July 23rd, 2008
11:55 AM ET
14 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. Scott L

    No matter how much $$ Obama raises after he lied about public financing, he is going to get crushed in the general election. He doesn't care because he will make millions writing books and going on talk shows and giving speeches. He is set for life now, and I would be willing to bet he doesn't even care about the presidency anymore.

    July 23, 2008 03:04 pm at 3:04 pm |
  2. Obama Supporter from Texas

    I support Obama all the way. I am going to donate another $100.00 dollars today!!! Who will join me?

    Obama '08

    July 23, 2008 03:07 pm at 3:07 pm |
  3. Willow, from Iowa

    So McCain gets the 84 million AND the 105 million from the RNC. I thought he could only use the 84 million. Obama gets to use whatever he gets from fundraising, and will not take the 84 million, but only gets 4 million from the Democrats.

    I have read in several places that the RNC sacrificed all of their smaller campaigns for the senate, etc. to give all their money to McCain. Talk about betting on the losing horse. They knew they were going to lose senate seats, so bet it all on the big one.

    Obama is free to fund raise all that he can. Well, its time to get out my card and give him another donation.

    July 23, 2008 03:09 pm at 3:09 pm |
  4. Abby

    We sill not be outspent this time like we were in past years. Thanks in large part to that scary machine that McCain has yet to learn, the computer!!! Thank you Mr. Gore for creating the internet..hehe

    Every kid in college and every elderly person and every one with access to the internet can donate $5, $10 and $15 and take our county back. It's a beautiful thing.

    July 23, 2008 03:12 pm at 3:12 pm |
  5. Rob in VA

    Way to beat the Rebublicans at their own game. This is great! Let's face it, being the best candidate for the job alone does not get one into the White House. This society is based on capital and having the most capital certainly does give one more options.

    OBAMA 08'

    July 23, 2008 03:12 pm at 3:12 pm |
  6. prefer koolaid than your arsenic

    can some one please explain to me how if the public finance system Mccain called Obama a flip flopper for backing out of, if it were not flawed the way Obama said it was, how can McCain raise so much money....loop hole, flawed system or what? now i guess McCain is trying to BUY votes?

    July 23, 2008 03:24 pm at 3:24 pm |
  7. Vig

    Obama opted out of public funding because he knew the riches were flowing his way. He thinks he can buy the red states, the Latinos, the Blacks, the Jews, the Whites – how opportunistic can you be? Americans should be disgusted as they pay inflated gas and grocery prices. How can you brag about money while the country you supossedly want to serve is suffering? Mr. Obama, is first and foremost a politician – not a rock star.

    July 23, 2008 03:25 pm at 3:25 pm |
  8. kim hussein taylor portland, oregon

    "with $105.2 million in the bank as of June 30 compared to $92.1 million."

    yeah, but when you take out the crooked repugs' ill-gotten gains, their $12.58 aint so impressive, is it?!?

    "The RNC by itself reported a warchest of $68.7 million, compared to $4.5 million for the DNC."

    easy to do when you are THIEVES!!!

    July 23, 2008 03:26 pm at 3:26 pm |
  9. M.S. Indiana

    So who is buying America now ??? Looks like the Republicans are

    Time to do a little donation to Obama

    BTW. how are our friend Ron Paul doing ??

    July 23, 2008 03:27 pm at 3:27 pm |
  10. Susan

    I will, and will continue to do so until he is elected! OBAMA 08!

    July 23, 2008 03:28 pm at 3:28 pm |
  11. Debby, NJ

    Your "warchest" is about to be empty, your party will no longer tolerate your gaffs.

    July 23, 2008 03:35 pm at 3:35 pm |
  12. A little confused

    If people contributed to charities, homeless shelters, Food Banks, etc, the way they contribute to Presidential campaigns, the changes in our nation would be substantial.

    July 23, 2008 03:38 pm at 3:38 pm |
  13. LK

    All this money for a job that pays $400,000. I think the American people are the ones the jokes on. No wonder why this country is in BIG trouble. It time for people to wake up before its too late.

    July 23, 2008 03:42 pm at 3:42 pm |
  14. Obama 08: white, 60 year old woman

    Boy, McCain has the money to make more of his lame, inaccurate attack ads.

    This campaign is too long and the media revenues are too vested in keeping it controversial and to appear close.

    July 23, 2008 03:45 pm at 3:45 pm |
  15. Ken

    Please, ALL you neo-idiots, send as much cash as you can to the [R]s. And then send some more. I rejoice at the thought of you throwing even more of your money away. Do you realize how much of your net worth was sucked away by Bush admin. policies over the last 7 years? I love how these [R]s run around thankful for a hundred dollar tax break, while the economy tanked around them, tye buying power of that $100 all but disappeared, and the debt that their children and grandchildren owes skyrocketed. But that's OK, when the debt comes due, the neo-nuggets of that day will just blame the situation on all your 'whining', 'lazy' children and grandchildren. I love it when animals with brains the size of a pea feast on their own.

    July 23, 2008 03:47 pm at 3:47 pm |
  16. The Silent Majority

    Time to give McCain another million.

    July 23, 2008 03:49 pm at 3:49 pm |
  17. a southern bell for OBAMA




    July 23, 2008 03:52 pm at 3:52 pm |
  18. Kiah

    Scott L...Obama will not only make more money by HIMSELF and WIN and his books after his 8 years in office will be highly sought after.

    So get used to saying President Obama.

    Obama '08 & '12

    July 23, 2008 03:55 pm at 3:55 pm |
  19. Lorraine

    This group of women is writing Obama another weekly check.

    July 23, 2008 03:57 pm at 3:57 pm |
  20. Obama-Junkie, IL

    Let the GOP spend up all its money defending McCain in a general election meanwhile the other congressional races will favor going to the Democrats while McCain still loses on Nov. 4th!

    July 23, 2008 03:57 pm at 3:57 pm |
  21. Ian

    Hundreds of millions of dollars for a job that only pays a few hundred thousand dollars a year.

    July 23, 2008 03:58 pm at 3:58 pm |
  22. Hispanos para Obama

    with 527 groups hiding under the radar for McCain, Obama needs to raise more cash.
    and you can approve this message

    Obama 08

    July 23, 2008 03:59 pm at 3:59 pm |
  23. Dr.Mimi De La Cruz for OBAMA





    July 23, 2008 03:59 pm at 3:59 pm |
  24. Peejay

    "If people contributed to charities, homeless shelters, Food Banks, etc, the way they contribute to Presidential campaigns, the changes in our nation would be substantial."

    I'm glad I'm not the only one who thinks the amount of money spent to buy the US Presidency is OBSCENE.

    July 23, 2008 04:00 pm at 4:00 pm |
  25. DMAC in ID

    I read a report several days ago that Obama is receiving donations from places like Kenya and Nigeria and Nicaragua just to name a few that was on his out of country list. and his web site. I didn't think that was legal. Sure wish I could find out how to really check this out and get it on line.
    McCain had non.

    July 23, 2008 04:00 pm at 4:00 pm |
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