July 23rd, 2008
11:55 AM ET
15 years ago

Presidential warchests near $200 million

[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2008/images/07/21/art.split.gi.jpg caption="Warchests for the presidential candidates have neared $200 million."](CNN) - Sens. John McCain and Barack Obama and the major political parties supporting their presidential bids together have amassed massive campaign warchests totaling almost $200 million, according to campaign finance documents filed this week with the Federal Election Commission.

McCain and the Republicans held a combined cash advantage over Obama and the Democrats, with $105.2 million in the bank as of June 30 compared to $92.1 million.

These figures take into account the available cash totals for the McCain and Obama campaigns, the Republican National Committee, the Democratic National Committee, as well a number of so-called "joint fundraising committees" established by the campaigns in conjunction with the national parties, and in some cases, with various state parties.

When comparing just the two presidential campaigns, Obama still maintains a sizable fundraising and cash lead over McCain. In the month of June, the Obama campaign raised $50.5 million in contributions compared to $16.4 million for the McCain campaign. The Illinois senator ended the month with a hefty $71.7 million in the bank, of which roughly $12 million is set aside for the general election and may not be spent prior to next month's Democratic National Convention. McCain reported a cash total of $26.8 million at the end of June, all of which is available to spend prior to the Republican National Convention in September.

Although his campaign committee trails Obama's in both fundraising and available cash, McCain is greatly aided by the financial strength of the Republican party’s fundraising apparatus. The RNC by itself reported a warchest of $68.7 million, compared to $4.5 million for the DNC.

In addition, McCain and the RNC have created six joint fundraising committees which together reported a total of $9.7 million in cash available to spend on behalf of the Arizona senator's candidacy.

On the Democratic side, Obama and the DNC have two joint fundraising committees with a total of $15.9 million in the bank. A third committee was created earlier this month and did not file a June campaign finance report.

McCain, who has said he would accept public funding for the general election, is also slated to receive approximately $84.1 million in early September to finance his general election campaign. Obama, who already has broken campaign fundraising records, says he will opt out of the public funding program and will finance his general election campaign using private contributions.

Filed under: Candidate Barack Obama • John McCain
soundoff (44 Responses)
  1. Mike, TX

    Obama should refund his contributions back to his supporters and stand down. His campaign is fraudulent.

    July 23, 2008 04:01 pm at 4:01 pm |
  2. Jan

    Repubs don't need as much-they don't try to buy as many votes–besides, McCain gets the public money because he kept his word. Give your money now, Obama people–you won't have much after taxes if he is elected. Only the rich know how to find loopholes to pay less. You will be paying more, not less–take that to the bank!

    July 23, 2008 04:06 pm at 4:06 pm |
  3. dave g, minneapolis

    It's sooo nice to hear how much it takes to win an election.

    Too bad other voices with real experience and ideas are not heard more loudly.

    Here's my contribution: Don't vote for these two.
    Vote for Barr '08. Real ideas to get us out of problems and return our freedoms and liberties that both parties are taking.

    July 23, 2008 04:08 pm at 4:08 pm |
  4. noMcSame

    Obama has another $20.00 coming from me and most of my coworkers on payday to help in the fight to get to the White House. Still counting baby.

    July 23, 2008 04:08 pm at 4:08 pm |
  5. ali

    and all that money will be spent here in america?what a stimulus to the economy!i'll go donate to obama again right now.6th time,now!this is better than shopping at wal -marts.i get something american made.obama!

    July 23, 2008 04:11 pm at 4:11 pm |
  6. Melinda Charlotte, NC

    I don't care what anyone says, that is WAY too much money for a presidential campaign. The money could be put to such better use in other ways. When I think of the poor and starving people at home here in America, I am filled with disgust at this whole process. We are experiencing an economic downturn and gas is $4.00 ( at least ) a gallon. Yet, these people raised that much money? I have donated before in this campaign ( to neither of these candidates), but no more. My money is going to people who need to eat, not paint their campaign logo on a plane.

    July 23, 2008 04:18 pm at 4:18 pm |
  7. Danny G. Boca Raton, FL

    32 years I've been a dem, this is one election I'm not excited about, I really don't know how ready Sen. Obama is, I feel he is my better choice at this point, but he still has not sold me completely on his plans and how he is going to enact them.

    we shall see... one thing is for sure, they are going to have plenty of money to show me how they plan on acting as president...

    July 23, 2008 04:20 pm at 4:20 pm |
  8. Patty

    It is a sad occasion when that kind of money is going to the campaigns when so many things in this country could benefit.

    July 23, 2008 04:25 pm at 4:25 pm |
  9. EDW

    Thank you CNN, thanks for reminding me that I need to make my monthly payment to the Obama campaign.


    July 23, 2008 04:25 pm at 4:25 pm |
  10. Mike the Independent from Ohio

    Makes me sick that this country has come to the point where one has to buy the presidentency. "A little confused" has it right. You hardcore Obama supporters as well as McCain supporters make me sick to my stomach, I'm ashamed to call you my countrymen

    July 23, 2008 04:27 pm at 4:27 pm |
  11. dave g, minneapolis

    @ a little confused

    Last year Americans donated $300billion of their own money, besides taxes. Think about how much more people could give if taxed less. Private, non-profits are much more efficient with their money because it is the law. It's interesting that the government is so bad at it, and the public keeps wanting more government programs.

    Vote for Bob Barr '08 to reduce government programs, pull out of Iraq and to promote individual rights. He encourages individual giving. These are things that both of the other presidential candidates don't talk about.

    July 23, 2008 04:34 pm at 4:34 pm |
  12. Erika, KS

    Ah, yes, you really can buy your way into the White House. Sadly, this doesn't mean you qualify to actually be there. Neither one of these individuals were the best candidate for the job. Typical American nonsense.

    July 23, 2008 04:35 pm at 4:35 pm |
  13. Montana is Obama Country

    Barack is worth all my money.. If I didn't have to pay my mortgage I will give him that money too.. I trust Barack to handle foreign affairs, the economy, the energy crisis, the WAR and everything else in between...

    "BarackoterFest" will crush McVain's October surprise..!

    Watch for "BaracktoberFest" coming to a town near you!!

    Yes WE Can..

    July 23, 2008 04:39 pm at 4:39 pm |
  14. karen-phoenix

    I'm a recovering republican, 64 years old. Was a republican election judge for 14 years. Never sent a dime to a republican. Every 3 weeks I send Obama $10 and maybe its time to up the anty!!! I think I'll send $20. Obama is the only hope my grandkids have of a future in the United States!!! Out with old, in with the new!!!! YES WE CAN !

    July 23, 2008 04:40 pm at 4:40 pm |
  15. eric

    The fact that the RNC has that much on hand is proof of the broken financing system Obama was talking about when he decided not to take public financing. Obama is already better publically financed than any campaign before him thanks to those of us who give what little we can to get him elected. He can expect a few more dollars from me in the near future. It's all I have to give at the moment.

    July 23, 2008 04:41 pm at 4:41 pm |
  16. Erin in Edmonds WA

    Note to Scott L: Guess you didn't get the memo either....

    July 23, 2008 04:47 pm at 4:47 pm |
  17. Cathy

    To Scott L and others alike:

    Obama would have been crazy to take public funding knowing how much his supporters believe in him and his campaign. I guarantee you, if McCain could raise even close to what Obama raised from his donors he would have opted out of pubic financing too.

    So please just stop with the petty bs.

    July 23, 2008 04:49 pm at 4:49 pm |
  18. Vermont

    McCain just isn't the same guy I actually used to like and respect 2 years ago.

    I have never donated to a campaign but I did this year. Obama, you have my vote! He won over this independant!!

    And I don't care if he flipped flopped over public financing. The GOP has 100+ million to spend before the convention then he gets the public financing. What is flawed there?

    It's about time there is an even playing field with $$$.

    July 23, 2008 04:55 pm at 4:55 pm |
  19. tedious898

    I want to apologize to any PUMA or republican that may have been offending by my comments about you people being idiots.

    When Obama is constantly bashed, I'm taking it personally – for some reason. I feel "That's My President" and how dare you constantly blast him. You have every right to criticize him as our constitution provides for that type of "response"

    Ok...now I'll go make my donation for "MY Candidate"

    P.S. please spend more time talking about the qualitities of McCain and less about what is wrong with Obama. I promise as an Obama supporter; I will avoid the insults.

    July 23, 2008 04:58 pm at 4:58 pm |
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