July 17th, 2008
08:04 AM ET
15 years ago

June take for Obama's campaign coffers: $52 million

[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2008/images/07/17/art.obama2.afp.gi.jpg
caption="Barack Obama's campaign says it raised more than twice as much as John McCain last month."]

WASHINGTON (CNN) - Barack Obama's campaign raised $52 million last month, more than twice the amount of funds brought in by his rival, John McCain, according to campaign officials for the presumed Democratic presidential nominee.

Obama's campaign now has $72 million cash on hand, the term used to describe how much money they currently have to spend, campaign officials said Thursday.

The average donation to Obama in June was $68, the officials said, bringing the monthly total to more than twice the $22 million raised in May. Meanwhile, the Democratic National Committee reports it raised over $22 million in June - bringing the total cash-on-hand held by Obama and the DNC to $92 million.

At that time, the Illinois senator was still locked in a fierce primary battle with Sen. Hillary Clinton for the Democratic presidential nomination, and Obama was spending more time campaigning for votes and delegates than simply fundraising.

With the conclusion of the primaries in early June and Clinton's suspension of her campaign just days later, Obama's campaign cash numbers had been expected to rise in June.

McCain's campaign raised $22 million in June, its best month yet. The campaign said that combined with the Republican National Committee, they have about $95 million cash on hand.

Earlier: McCain camp says GOP has $95 million

In a fundraising e-mail to supporters, Obama Campaign Manager David Plouffe acknowledged the deficit, saying that “McCain and the RNC together still have a huge cash advantage, and we need your help to close the gap.”

Obama has opted out of using public financing for his campaign, but McCain is accepting federal funds. That means at the conclusion of the political conventions in September, McCain will get about $85 million in public funds to spend on his campaign until Election Day, November 4th.

Obama will receive no federal money, but is free to raise and spend as much money as he can. If he continues to raise large amounts of money, he could have an advantage over McCain when it comes to campaign cash in the crucial months of September and October.

Money of course is not the only factor in the campaign, but it does pay for advertisements on television, radio, the Internet and in print, as well as fund expensive get-out-the-vote efforts in crucial battleground states across the country.

soundoff (264 Responses)
  1. Pudin

    Hmm, $52 million in a month, but what is he campaigning for? CHANGE. What kind of change, you ask? Why, I don't know! I will never support Obama and I think he is leading the young people of this country down the wrong path with his public speaking skills and his ONLY message. Those of you who support him need to ask yourself what he is going to do in the White House, what is he going to change. I can't seem to get a clear answer out of anyone, supporters or the media as to what specifically his campaign is all about. What in the world does his change mean?

    July 17, 2008 10:11 am at 10:11 am |
  2. Jo Ann

    Thanks Obama for including the ordinary people and not looking down
    your nose at the small donations. This sounds to me like his campagin is being run by the people for the people. Special interest groups can't hold anything over him like they can McCain. It's funny to me how what Obama said about the war and his plan to end it. McCain says it was due to his inexperience and look what Bush is doing now seems to me Obama had the right idea. If this had been done before may we would not have lost over 4000 lives.
    Sending another donation today and will until he is elected President of USA.

    July 17, 2008 10:12 am at 10:12 am |
  3. Sue

    I will continue to donate to his campaign. We cannot afford a third Bush term!

    July 17, 2008 10:12 am at 10:12 am |
  4. rich

    in the u.s, it takes BILLIONS of dollars to elect a new president.

    how sad, considering there are only 2 candidates to choose from.

    July 17, 2008 10:12 am at 10:12 am |
  5. Alex in MA

    Another $50 from this member of the BARACK BRIGADE!

    Yes we can!

    July 17, 2008 10:13 am at 10:13 am |
  6. YES WE CAN!

    Love it!!!

    July 17, 2008 10:13 am at 10:13 am |
  7. Michael "C" Lorton, Virginia

    Money talks and McBull walks........how sweet it is......

    July 17, 2008 10:14 am at 10:14 am |
  8. Rice

    Brilliant, and thank you to all the supporters-big and small. I have made many sacrifices to contribute to the campaign and will continue to do so. Polls and the MSM do not take into account all of who have not previously voted or contributed to a campaign. If all Barack supporters, previously not registered and or Republicans and Independents, were counted, the numbers in the polls and demonstration of his actual lead against Mcinsane would be more accurate. Let's keep giving in effort to make up for those Hillraisers who don't and won't support the next POTUS. Donate to the Victory fund and we can be sure that Billary does not get any of the dosh we send in. Let her Hillraisers pay her debt off with the money that they won't send to Barack. Between them and the Billary's millions already in the bank, I am sure she will be fine. I wish them luck and distance.

    July 17, 2008 10:14 am at 10:14 am |
  9. World Angel

    One thing I can't understand is, if the ECONOMY is soooo bad, why can't all of the million of dollars that's being raised for the candidates campaign be used for that purpose.

    The three Presidential candidates, Senator Clinton, Senator Obama, and Senator McCain, by the close of March had raised a combined total of over $500 Million to spend to get a job that pays $400 Thousand a year. If you add in the amounts raised by the candidates that have dropped out of the race, the total rises to over $800 Million raised. It's almost mind boggling to consider anyone spending that much money to get a job. It would be like you spending $50 to $80 Million to get a job that pays $40,000 per year. Or, spending $500,000 to promote a program or rally and only raising $400. Why would anyone spend that much money for a job? One word, POWER! Power is the only thing that is sought after, by some, more than they seek God, money or love.

    Everything they're saying in their campaign speeches will never happen anyway, it's senseless to spend that kind of money for someone to LIE to you. WHY DO WE DO SUCH STUPID THINGS.

    July 17, 2008 10:15 am at 10:15 am |
  10. Concerned American

    Government of the people, for the people, and by the people. No special interests.

    July 17, 2008 10:15 am at 10:15 am |
  11. Dr. T

    Cool,Obama is a man of Faith/Hope.Dropped Public/lobby financing b/4 he saw this light. Has to raise money 4 the DNC and hilary . Will shatter fund raising ceilings each month eclipsing $500million b/4 november. Mccain is no match for a born champion.

    July 17, 2008 10:16 am at 10:16 am |
  12. blogatlantic

    Raising funds is great, but implementing those funds to greatest effect is the Greatest. Can Obama manage his funds better than McCain? Can McCain call on the old school money bags to raise quick cash when it's needed? The candidate who will raise, implement and manage their funds better, will start establishing who will better manage the U.S. economy and could go all the way

    July 17, 2008 10:18 am at 10:18 am |
  13. Jon

    Presidential elections are such a colossal waste of money, but then again, so is the government. The same people who whine about not being able to keep their house or buy groceries are sending both clowns money every month.

    With the Internet as prevalent and the media giving the candidates all sorts of free press, (Obama may sponsor NASCAR, McCain and Viagra or Czechoslovakia), you would think the campaigns wouldn't need to spend so much.

    July 17, 2008 10:18 am at 10:18 am |
  14. NotPayingHillaryDebt


    & those who say Obama is buying the Presidency .. the money come from the People .. their are the voters & voices will be heard come Nov

    Democrats 08!!!!!!!!!!

    July 17, 2008 10:19 am at 10:19 am |
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