Who Is Leading Whom?
A fairly surprising bit of reporting from Andrew Romano of Newsweek's Stumper blog. It seems that the supposed big money advantage that Obama has over McCain doesn't exist. In fact, McCain will have considerably more cash going into the general election than Obama - by a rather large margin.
For all the pundits who predicted that Democratic nominee Barack Obama would crush McCain in the general-election money race, this should come as something of a surprise. After all, Obama raked in a record-breaking $280 million during the primary season; McCain's receipts totaled a measly $120 million. But as the last few months of federal fund raising disclosures have shown, "the real surprise" of this year's cash chase–as I wrote on July 11–is that "it's much more competitive than anyone expected." And the latest numbers are no expection.
While Obama netted a massive $51 million in July–again clobbering McCain, who racked up $27 million–the important statistic to look at is the combined amount of cash-on-hand for each candidate and his party (i.e, how much is actually available to spend on getting the nominee elected). In this case, the totals are nearly identical: the Republicans finished July with $96 million in the bank ($75 million for the RNC, $21 million for McCain) versus $94.3 million for the Democrats ($25.8 million for the DNC, $65.8 million for Obama). Bottom line: neither candidate is struggling financially.
There's more, do hop over and read it. As Romano points out, McCain will not have to fund raise during the general election. He opted for public financing and will be getting large monthly checks as a result. Obama will have to continue raising funds right through election day. McCain is currently outspending Obama by large margins in key states. Admittedly, the results are mixed so far, but things are not quite what many predicted, either.





