July 17th, 2008
08:04 AM ET
14 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 โ€œMcCain and the RNC together still have a huge cash advantage, and we need your help to close the gap.โ€

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. Lorna, NY

    I will continue donating to his campaign. We need this man as President. Everything he has been saying has been true: The US is now negotiating with Iran, Afganistan is being ignored, Iraq was never a threat to us. We need someone with judgement and foresight to lead this country. We need someone like Barak Obama.

    July 17, 2008 08:08 am at 8:08 am |
  2. No McBUSH


    Smart move to opt of out the financing!

    Here's another $500!

    July 17, 2008 08:10 am at 8:10 am |
  3. J.S.

    Millions are being contributed to Obama's campaign while we have banks failing, floods destroying property, fire fighters fighting to extreme exhaustion in California and the worst drought in the panhandle of Oklahoma since the Dust Bowl. If these same contributors would respond to these problems the way they have to his campaign-what a "real CHANGE" they could make in the lives of so many Americans.

    July 17, 2008 08:14 am at 8:14 am |
  4. Pumas aren't Democrats, So Stop Using OUR Good Name

    President Obama... sounds nice

    July 17, 2008 08:15 am at 8:15 am |
  5. KLM


    July 17, 2008 08:17 am at 8:17 am |
  6. HillaryClinton4BarackObama

    Wow ... we are really Fired Up and Ready to Go ! Obama for POTUS ...

    Yes we Can ...

    July 17, 2008 08:18 am at 8:18 am |
  7. Obama 08: 60 year old white female

    Media underestimates Obama AGAIN!!! Wasn't it last week they were predicting he would raise less than McCain???

    Overlooked is that the average donation was $68 which also indicates the number of VOTERS supporting this campaign!!

    July 17, 2008 08:20 am at 8:20 am |
  8. Reed

    What the hell is the DNC doing? Obama has to raise all the money while they sit on the hands. On the other hand, the RNC is raising all of McCain's money. I'm glad Obama opted out of the public finance system or he would have been at a serious disadvantage.

    July 17, 2008 08:20 am at 8:20 am |
  9. For Obama

    Keep doing your thing, Obie.

    July 17, 2008 08:22 am at 8:22 am |
  10. DEBBY, NJ

    You Gooo Barack !!!
    Just gave another $25.00 this morning

    July 17, 2008 08:22 am at 8:22 am |
  11. Deanna

    I wish his campaign would let us know how we can send money to him and not Hillary. They would have received more money.

    July 17, 2008 08:23 am at 8:23 am |
  12. Worst...Resume...Ever....

    "Money of course is not the only factor in the campaign..."

    Are you serious? Its been the only factor in this election since last October.

    July 17, 2008 08:23 am at 8:23 am |
  13. Roger

    I donated $50.00 in that $52 millions, and I intend to do that every month until the election. I'm tired of the economy, the war in Iraq. ect. That's the way I fight back.

    July 17, 2008 08:24 am at 8:24 am |
  14. NObama

    This money will enable Obama to continue to buy air-time to promote his non-existant policies and smooth talk that Obamabots confuse with experience.

    July 17, 2008 08:25 am at 8:25 am |
  15. Joe Reed

    Bye bye McCain, Hello President Barack Obama!

    July 17, 2008 08:25 am at 8:25 am |
  16. Wolf Dermann

    Obama might be outraising the McCain on the official numbers, but McCain is able to keep up with Obama with his "McCain Victory 08" fund, through which he accepts up to $70,000 per individual donor with most of the money going to the RNC that will spend it for McCain. So much for fair campaign financing.

    July 17, 2008 08:25 am at 8:25 am |
  17. Joanne

    Yes, of course heraissed this money with Hillary's help. thank her supporter's or should I say her fund raisers. Really lol Hillary is still so much mor qualified. It is rally unfortaunate The DNC let her down.

    This nominee was hand picked What a shame. He better pick her for his VP or else he might get quite the surprise th is Nov.

    Hillary VP

    July 17, 2008 08:26 am at 8:26 am |
  18. OBAMA 08!!!

    YES WE CAN !!!!

    Everyone lets go BARACK THE VOTE in November become one in over 1.5 million owners of history...YES WE CAN!!!!

    July 17, 2008 08:27 am at 8:27 am |
  19. Foreign observer

    Money keeps the world go round. Obama shows a good financial trend but he is still far apart from succeeding on money.

    July 17, 2008 08:27 am at 8:27 am |
  20. bitter gun owner and church goer

    As the Beatles sang- Money cant buy you love......

    July 17, 2008 08:28 am at 8:28 am |
  21. Mario Bratfisch, Berlin

    McCain can save as lot money as he wants to, he won't beat Sen. Obama at all, when it comes to Nov. 4th. ๐Ÿ™‚

    I will have a chance to see Obama next week here in Berlin, Germany and I'm very much looking forward to this. I hope you Americans will do the right thing and vote Obama as the next President of your wonderful country. ๐Ÿ™‚

    July 17, 2008 08:29 am at 8:29 am |
  22. Michael

    Good Job Obama... it s great to see that young people are so involved in your campaign... now all you guys need to do is go out and vote!!


    July 17, 2008 08:30 am at 8:30 am |
  23. NC Attorney

    Yes We Can!! I am proud and honored to have been among those that contributed to the $52 Million. We will make a difference!!!

    July 17, 2008 08:30 am at 8:30 am |
  24. Patty

    When people in this country are hurting and having a difficult time, I find it disgusting that this amount of money is being spent on campaigns. I sure hope we get our money's worth in the end but doubt it.

    July 17, 2008 08:31 am at 8:31 am |
  25. Bulldog

    This shows how much support is out there for Obama. While the poll numbers may show a different story it is clear the Obama supporters are much more engaged and put there money where there mouths are. Republicans seem to rather throw out lies than donate money to their canidate.

    July 17, 2008 08:31 am at 8:31 am |
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