Show Us the Money

Friday is the deadline for the presidential candidates to file their May financial reports with the FEC.

So far the Obama campaign has been mum about their May fundraising and spending but based on their decision to opt out of public financing, you have to think they are feeling pretty confident about their financial situation.

Through April 30, the Obama campaign raised $264.4 million overall and the McCain campaign raised $89.1 million overall, per ABC News' Tahman Bradley.

The McCain campaign has said it expects to report $21.5 million in May – his best month ever – and started June with $31.5 million in the bank

The most anticipated stat to come tomorrow may be the overall debt that Hillary Clinton will report to the FEC (and don't be surprised if that figure comes late, in order to bury it on a Friday summer evening). ABC News' Bradley reports that as of the end of April, the Clinton campaign was carrying $19.4 million in debt. The higher that Clinton number is tomorrow, the more significant the June 26th Obama/Clinton joint fundraiser becomes for the New York Senator, who is looking to Obama to help her retire some of that debt.

NAFTA was front and center in the lead-up to the Ohio Democratic primary, with the Obama and Clinton campaigns engaging in a heated debate on the issue as they angled to position themselves with working class voters.

It looks like the trade agreement is returning to the campaign spotlight, with John McCain scheduled to deliver remarks on free trade Friday at the Economic Club of Toronto in Ottawa, Canada. McCain will talk in general about the importance of the United States' relationship with Canada and talk specifically about the importance of the U.S.-Canada trading relationship

The speech and setting gives the McCain campaign an opportunity to highlight what they will say are inconsistencies in Obama's positions on trade with Canada.

Expect Exhibit A from the McCain campaign to be Obama's recent interview with Fortune Magazine where the Democrat seemed to dial back from his strong primary season criticisms of NAFTA (Paging Austen Goolsbee).

When presented with his quotes that the trade agreement was "devastating" and "a big mistake," Obama said: "Sometimes during campaigns the rhetoric gets overheated and amplified." That line is likely to be part of a chorus from the Republican side tomorrow.

Obama's event on Friday could be a two for the price of one deal -- an economic roundtable with about 15 Democratic governors, but also an opportunity to size up a few potential running mates.

Per ABC News' Sunlen Miller, the open press event will look much like the one Obama had with national security advisors on Wednesday. Obama will make opening prepared remarks and then will open up the discussion to the governors.

The campaign has not said which governors will be attending but keep an eye out for New Mexico Gov. Bill Richardson, who was not shy or coy in noting that the Democratic Party "ignored the Southwest" and "ignored the Southwest Hispanic vote." Will other VP potentials, like VA Gov. Tim Kaine and KS Gov. Kathleen Sebelius, attend?

Fresh off her largely positive reviews for her co-hosting of The View, Michelle Obama speaks at the National Partnership for Women & Families 2008 Annual Luncheon. Per the campaign, Mrs. Obama will address the "unique challenges facing America's working families."

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