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. Tracey

    I'm glad BO is not taking public money, he will owe no one but the American People. Time to take the country back!!!! And I think he's the man to do it!!! GO OBAMA 08

    July 17, 2008 09:27 am at 9:27 am |
  2. dz in Austin

    A fool and his money are soon parted. I hope all you guys contributing to him actually get what you think you are paying for.

    These contributions along with the commercials run by his version of the 527's (Moveon.org, Planned Parenthood, etc) just may buy this election after all.

    Don't get me wrong, as I see it , now I don't have a choice but to vote for him or stay home. I'm not sure which of those choice my conscious can live with, but I'm certainly not enthusiastic enough to contribute!

    July 17, 2008 09:27 am at 9:27 am |
  3. Cheri

    WOW!! Wasn't the media just reporting last week that Obama had only made 30 million and people weren't as excited about his campaign because of his fisa vote,he was losing his base,etc.....

    July 17, 2008 09:27 am at 9:27 am |
  4. Let the truth be told

    The economy must not be in too bad of shape for Obama supporters!

    July 17, 2008 09:27 am at 9:27 am |
  5. R.I.F.

    Average donation = $68. Folks, that's true public campaign financing. Meanwhile the RNC and McCain are taking in money from tons of special interest groups and the media just ignores it. What person running for president would opt out of a system that they created where they can raise $52 million in one month with average donations of $68???

    July 17, 2008 09:28 am at 9:28 am |
  6. Debbie - Arkansas


    July 17, 2008 09:28 am at 9:28 am |
  7. Vivian Dixon

    It is important for all us to keep the momentum going. This country needs a serious overhaul. I know Obama can't do it alone, but at least he has the vision. And everything starts with a vision. He gets my money and my support.

    Go OBAMA!

    July 17, 2008 09:28 am at 9:28 am |

    Not a penny from me ... considering he intends to continue the war in Afghanistan.

    July 17, 2008 09:28 am at 9:28 am |
  9. libby

    I sent in $50 to Hillary!

    Whatever Obama crazies I'm never voting for Obama.

    I'm sending Hillary another $50 next payday. 🙂

    July 17, 2008 09:28 am at 9:28 am |
  10. CW4Barak

    Great.....I am glad I gave money, and will continue to give. May GOD bless and keep you all in the Obama camp!

    July 17, 2008 09:28 am at 9:28 am |
  11. Pimping for Obama

    I hope everyone reads the comments made by J.S. and then asks themselves, "what's wrong with this picture"?

    Young girls have been going door to door in neighborhoods asking for donations of $100. When refused they ask for whatever amount you want to contribute and when refused, they ARGUE with you and refuse to leave the property saying they want to tell you why you should contribute.
    Throw them off your front porch and call the cops.

    July 17, 2008 09:29 am at 9:29 am |
  12. A. Boston, MA

    Negotiating with Iran (Meeting with our enemys), More troops in Afghanistan (The real war), both said would happen when Obama became president. We'd save $200 billion a year toward our economy. Why is congress already following Obama's moves? It's a no brainer!!

    Today is payday. I'm dropping $500 ...

    Obama 08

    July 17, 2008 09:29 am at 9:29 am |
  13. Jackie

    Way to Go President Obama!

    July 17, 2008 09:29 am at 9:29 am |
  14. California Voter

    The amount of money spent by all the candidates running for President is obscene considering the overall economy. At the time of gas at an all time high, we have presidential candidates spending millions to be elected, and I find the amount Obama has raised especially distasteful after he promised to use public financing! Money is totally trying to buy this election for Obama - the least experienced of all the candidates.
    I bet you Elvis could have been elected President if there had been an internet in his day.

    July 17, 2008 09:30 am at 9:30 am |
  15. Kevin

    Let us all pray that Sen. Obama remain humble in his many successes. He is a once in a generation leader, and he can do much good around the world. Let us remember that he is not a Savior as Christ is, but a future President of the United States. As we are all overjoyed with this possibility, let us hold his feet to the fire, and encourage him everyday to make America and the world a better place to live

    July 17, 2008 09:30 am at 9:30 am |
  16. therealist

    Change we can count on or special interest groups coming out of the wood works??

    July 17, 2008 09:30 am at 9:30 am |
  17. Truth B Told

    How much does it cost to win the presidency again? Lol Seems to me it's a different amount for different people... "Things that make you go Hummmm....."

    Donate, Donate, Donate!!!!

    Because We Can!!!

    Obama 08

    July 17, 2008 09:30 am at 9:30 am |
  18. Nate

    Obama opted out of public funding.....McCain just looks worse and worse every day. McBush says, "go ahead, lets take the public's money and waste it on a campaign that isn't going to get me elected because I'm from the Stone Age School of Thinking." And that my young padwan, is why you fail. 85 million in public funding??? Is there anyway I can keep my tax dollars from going to that pot? Talk about Fraud, Waste, and Abuse.

    July 17, 2008 09:31 am at 9:31 am |
  19. Method Man

    Obama's changing the game-

    When he gets into office, he won't be beholden to lobbyists, PACs and huge corporations; he'll answer to WE the PEOPLE

    I'd rather he get by on 5 and 10 dollar donations from millions of people, than from $2300 donations from a few millionaires

    July 17, 2008 09:31 am at 9:31 am |
  20. Chikk On Lit


    July 17, 2008 09:31 am at 9:31 am |

    I'm donating as often as I can to the Obama campaign but I sure wish this contest wasn't about money. Couldn't these millions of dollars be spent on taking care of people instead of spending it on the media.

    July 17, 2008 09:31 am at 9:31 am |
  22. M. Fitzgerald

    Typical, just typical.

    Obama's raising money from the people, while McCain is taking money the RNC. That's the kind of money my mother was thinking of when she told me not to stick it in my mouth. You never know where it's been

    July 17, 2008 09:32 am at 9:32 am |
  23. Darius

    Just to piggyback off of what "Pumas aren't Democrats, so stop using our name"... Why don't we start referring to Barack Obama not as Barack or Sen. Obama, but as President Obama....

    Can anyone else out there second my motion?

    July 17, 2008 09:32 am at 9:32 am |
  24. John Starnes Tampa Florida

    McCain is learning the hard way that Americans are realizing anew that the Republican Party has long been soley about government of, by, and for the wealthy. Astonishing that McCain, who after an affair while married, would marry into vast wealth and end up with EIGHT homes, would refer to Barack Obama as elitist! His near-daily major gaffes, plus missing 61.8% of the votes of the 110th Congress, make clear he is unfit to end up in the White House continuing Bush's tragically flawed and failed policies that have wounded America to the core on every level.

    July 17, 2008 09:32 am at 9:32 am |
  25. mozartt

    I have been watching the discussion on CNN about the colour of Senator Obama's skin and the potential influence it may have on voters. So, in summary, we have two candidates. One is Harvard educated, a brilliant orator, presidential in dress and stature and a man who has an incredible ability to think on his feet. On the other hand, we have a candidate who cannot complete a speech without a teleprompter, which means he doesn't think well if someone else is writing his speeches, he is caricature in delivery, he appears to not know the differences between Sunnis and Shiites, he confuses Iran and Iraq and he still thinks Czecoslovakia is a country. He acknowledges not knowing anything about economics and he wants to stay in Iraq for the next 100 years. However, he does appear to have one overriding strength he is white!. So when you are sitting in your home, waiting for it to be foreclosed, and when you children are being killed in a war that has nothing to do with you and when you cannot take your child to the dentist because you don't have the money, and when your economy is in recession and your children are hungry, etc,, please feel secure in the knowledge that at least your candidate is white!!! In the face of a superior candidate, it is astounding that he may not win because his skin is black. If that isn't the ultimate stupidity I dont know what is.

    July 17, 2008 09:33 am at 9:33 am |
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