Monday, September 15, 2008

Obama's Money Problem(?)

Last week, I referenced James Pethokoukis' article that Obama's fundraising had essentially "dried up." Now, new reports show Obama raised $66 million in August. Essentially, I contradicted myself. Or did I?

To be sure, Obama did set a new record, besting his previous $55 million in February. Many attribute this surge in donations due to John McCain's VP pick Sarah Palin.

But what people fail to realize is the fact that McCain, who opted for public financing while Obama did not, is expected to take in $84 million in public dollars after September 1. The McCain camp also disclosed that they have raised $47 million in August heading into the Republican convention.

On top of that, the Republican National Committee has consistently exceeded expectations in fundraising, while the Democratic Party has consistently missed their targets. Together, McCain and the Republican Party hope to amass $300 million for the general election through September and October. Combined, McCain and the Republicans have $194 million at their disposal.

All this leads to one conclusion: Team McCain has finally gotten the momentum on their side, right at the time they needed it most.

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