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 “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. Marty, FL

    Great news! Go Obama '08!

    I will be making another donation tomorrow, as well as one to Hillary. It is time to take our country back.

    July 17, 2008 08:45 am at 8:45 am |
  2. Election Watcher

    Another promise which Obama turns his back on to the tune of $300M and counting. Oh, no wait, sorry. He didn't break a promise, he simply "refined his position". Imagine how he'd be if elected.
    Just say Noabama!

    July 17, 2008 08:45 am at 8:45 am |
  3. CT voter

    I'll be sending in more now, thanks for the heads up. It's ironic Obama has been saying Afgahn should be the main focus from the start and only now Bush and Mccain are picking up on it month's later after it's gotten MUCH worse...the idiots...

    Obama 08

    Please don't send another moron into the white house America, let Mccain retire.

    July 17, 2008 08:46 am at 8:46 am |
  4. Bulldog

    All of this talk about McCain being just like George Bush is absurd. McCain is at least 50% like Dick Cheney. McCain was calling for war in Iraq in 1998 before 9/11. Why isn't his being reported more? This shows the real John McCain, the WAR MONGER.

    July 17, 2008 08:47 am at 8:47 am |
  5. jooce

    MSM ... wipe that egg of your face. i supposeyou will spin this one too for your best friend, st. john mccain. are his ribs really that good?

    July 17, 2008 08:48 am at 8:48 am |
  6. Foreign observer

    52 million is not enough to keep pace with the GOP money machine.

    July 17, 2008 08:49 am at 8:49 am |
  7. atypical

    We've got your back Obama. We'll make sure to do our part in this election to ensure you won't regret not accepting public financing.

    Just sent in 25.00 this week. More to come later. Promise.

    I know money is tight for a lot of us, but if we all keep doing a little we'll accomplish a lot!

    Let's take Obama to the White House.


    July 17, 2008 08:50 am at 8:50 am |
  8. Cynthia

    I'm glad he is raising large amounts because he is going to need it to fight all of the negative things that th RNC and their surrogates will put out there against him.

    July 17, 2008 08:50 am at 8:50 am |
  9. Dave, Illinois

    "The Audacity of Buying an Election" by Barrack Obama. The sad part of all this is that there are so many gullable people persuaded by pretty words from this empty suit.

    July 17, 2008 08:51 am at 8:51 am |
  10. Super delegate NJ

    When this dude opted out of public financing, he had just received a blank check from Oprah to buy this country's Presidency. Good Luck Barrack

    July 17, 2008 08:51 am at 8:51 am |
  11. JM

    I really want Obama to win, but McCain is going to be tough to beat.
    War hero
    POW survivor
    Represents true american patriotism.
    Relates to the average working american
    All these things weigh heavy..

    Obama 08

    July 17, 2008 08:51 am at 8:51 am |
  12. John B. From New Hampshire

    smart... a campaign truly fueled by the people!!!

    OBama '08

    July 17, 2008 08:53 am at 8:53 am |
  13. Kyle

    It seems like an obscene amount of money for both sides. I wonder how things would change if a candidate did not have to buy an election!

    July 17, 2008 08:54 am at 8:54 am |
  14. Anna

    I'm looking forward to many more great fundraising months. I will do whatever I can to help elect Barack Obama as our next President.

    July 17, 2008 08:54 am at 8:54 am |
  15. Phil From VA

    That includes $10 from me. This campaign is for all the ordinary people. Not the Cindy McCain buddies.

    July 17, 2008 08:55 am at 8:55 am |
  16. Kingslough NY.

    AMERICANS!! Choose yea this day who you will vote. From my stand i see the light at the end of the tunnel for Obama. Its simple arithmetics IQ vs senile = Americas blue oceanview

    July 17, 2008 08:56 am at 8:56 am |
  17. HULK Buster

    a republican has been in charge with our country for the past 8 years and look at how we are doing.
    WHY are some people so blind? Vote Dems or suffer for 4 more years of the same.
    Im proud to say that I DIDNT vote for BUSH cause I know he is as dumb as Forest Gump and McCain as a republican...


    July 17, 2008 08:56 am at 8:56 am |
  18. Tampa resident

    He is going to need it... The RNC will throw everything and the "kitchen sink at him... They are already posting billboards stating "Dr. Martin Luther King was a Rebublican" in Tampa... THEY ARE RUNNING SCARED.... Makes me think of that ol Sam Cooke song.....

    OBAMA 08.....

    July 17, 2008 08:56 am at 8:56 am |
  19. JB

    Wonderful. I knew that Sen. Obama raised more than 30 million dollars. The numbers are going to get larger and larger each month until CNN finally realizes that people want Obama not McBush or McSame

    July 17, 2008 08:58 am at 8:58 am |
  20. JB

    If anyone has ever read Marx, the Proletariat are rising. No more tax cuts for the rich. No more CEO's making 400 times the average worker (in Japan a CEO makes 10 times the average worker). Trickle down doesn't work. The divide between the haves and have nots has gotten bigger every year, and we are done with it.

    That is why McCain will lose.

    Jack up the taxes on the wealthy, they are generally the ones who have gotten us into this mess in the first place. Let their tax dollars get us out! And give the average worker a break.

    July 17, 2008 08:58 am at 8:58 am |
  21. Papa (South Africa)

    Thats what I'm talking abt
    Voters putting they're money where they're mouth is
    as an Avid Obama supporter from Far (South Africa)
    this is just another example for me to use for those
    cynics here who dont give BO a chance simply cos of race
    common McSame=McBush=McNotgonnawin

    July 17, 2008 08:59 am at 8:59 am |
  22. Mike

    Count it!

    July 17, 2008 09:00 am at 9:00 am |
  23. Xavier

    Obama 52 million. McCain 22 mllion. It wont be long before Obama eclipses McCains available funds. What do Obama detractors have to say now?

    July 17, 2008 09:02 am at 9:02 am |
  24. MMN-Milwaukee WI

    Thank-you Obama, change is here already. You have gone and reminded us that we do own a stake in the electoral process and it’s not the special interest groups and corporations that should decided for us how the country should be run. The ground up change is truly in effect and no one can take that away from us again unless we let them do so. I am ready for more change and I am not afraid. FDR told us "we have nothing to fear but fear itself" and those were not just words he inspired many.

    July 17, 2008 09:02 am at 9:02 am |
  25. Adam from NY

    Haha...playing it coy!

    July 17, 2008 09:02 am at 9:02 am |
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