The Note

John Edwards' cash on hand, however, gets him back in some folks' first tiers. And he could certainly get elected mayor of Portsmouth, New Hampshire.

And we could all write it 1,000 times on our individual blackboards, but the president's fundraising advantage (and the ease with which he takes it in) is THE story of this cycle, no matter who the Democrats nominate.

Outside the Gang of 500's obsession with the fundraising figures, of course, the Letterman aphorism is vibrating intensely this news cycle, with George Tenet and Josh Bolten knowing JUST how Dick Gephardt feels.

In news about the California recall:

--51% of likely California voters are in favor of recalling Governor Gray Davis according to the latest Field poll. 43% are opposed to the recall.

--Former Los Angeles Mayor Richard Riordan comes out on top in the Field poll among possible Republican replacement candidates.

--The legal and political rhetoric continues to heat up as the courts begin to weigh in on the petitioning and verification processes which may cause the delay Democrats seek.

-- At 4:30 pm ET Governor Davis will make a "major statement" regarding the state budget in Sacramento.

In Washington today, the president makes separate remarks to U.S. Attorneys and Urban Leaders.

His CIA director is on the Hill in closed session, and The Note is running a pool on how long after he finishes his appearance the first leak about what he said appears on the wire. E-mail us your guesses. politicalunit@abcnews.com

Senator Edwards holds a discussion with workers about his job growth plan this morning in Milford, New Hampshire. Later in the day, he'll be in D.C. to make remarks on civil rights and voting rights to members of the D.C. Democracy Fund.

Senator Kerry is in New York City to deliver remarks on national security.

Senator Lieberman campaigns in Charleston, South Carolina today. Hadassah Lieberman will campaign in Nashville, Tennessee, where she'll visit a food bank and have lunch with Democratic activists.

Senator Graham campaigns in Roanoke, Virginia. He'll be at the Winner's Circle NASCAR shop with Ward Burton, Jon Wood, Eddie Wood, and former Congressman Ben "Cooter" Jones. After a fundraiser tonight, there's a concert featuring bluegrass patriarch Ralph Stanley.

Governor Dean, Ambassador Braun, Reverend Sharpton, Representative Gephardt and Representative Kucinich have no public events scheduled for today.

*Source: Dan Balz, Washington Post, 7/2/2003 LINK **Source: Sharon Theimer, Associated Press, 6/25/2003 LINK

The real and continuing macro story line is reflected in the Balz/Edsall lead: "President Bush raised more money in the past three months than all nine of his Democratic rivals combined, according to reports filed with the Federal Election Commission (FEC) yesterday, opening up a huge financial advantage that is likely to continue throughout the 2004 election campaign." LINK

But the press corps rightly, if not terribly aggressively, pays attention to Congressman Gephardt's dismal second-quarter haul.

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