Obama Campaign Nets $51M in July; RNC, DNC at Near Parity

By Dotcomabc

Aug 16, 2008 2:12pm

Sen. Barack Obama’s campaign brought in more than $51 million during the month of July compared to Sen. John McCain’s $27 million during the same time period.

The campaign says it was a good showing considering that the Illinois senator was on his “world tour” for 10 days in July, with nary a fundraising event for a third of the month. More than 65,000 new donors contributed to the Obama campaign, according to a press statement.

“The 65,000 new donors to the Obama campaign demonstrate just how strongly the American people are looking to fundamentally change business as usual in Washington,” said David Plouffle, Obama’s campaign manager, in the statement.

It was the third-best fundraising month for the presumptive Democratic presidential nominee. In February, the Obama campaign raised $55 million; June netted $52 million.

Why did the Obama campaign put this out on a Saturday instead of Friday when Sen. McCain, R-Ariz., put out his lower figure? The Obama campaign says the money was still being counted on Friday.

But I will observe that stories about the Obama campaign being flush with cash don’t exactly inspire donors to write checks, and given the DNC’s cash disadvantage vis-a-vis the RNC, stories about how much more money Obama has than McCain are misleading.

The DNC announced today that it raised $27.7 million in July; the RNC reported just under $26 million.

However, the RNC reported having nearly $75 million cash on hand at the end of July compared to the DNC’s $28.5 million.

If you combine the cash on hand for RNC/McCain, you get approximately $96 million in available funds. The combined DNC/Obama money puts the Democrats in the same ballpark, which is no small feat for the Democrats who usually suffer financially compared to the GOP.

But it does mean that the two entities are at near parity despite Obama’s proven ability to raise more money than any other candidate in American history.

- jpt

ABC News’ David Chalian contributed to this blog.  It has been updated since its original posting.

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