Barack Obama Raises $52 Million in June
by John Little on 17/07/2008Not a bad month for Obama:
The Obama campaign rolls out its June fundraising numbers today, which meet the sky-high expectations the campaign faces and surpassed a recent wave of rumors of a relatively slow month.
The sum nearly equals Obama’s — and the American political — record of $55 million in February.
Spokesman Bill Burton emails that the campaign raised a total of $52 million in the month of June with an average donation of just $68, giving the campaign and the DNC have a total of nearly $72 million cash on hand.
If only money bought experience. Still, it’s useful but it can also be misspent (just ask Hillary Clinton about that):
First, Obama’s vaunted money machine will mean less than you might expect. Given his burn rate and how much McCain is raising, Obama may well end up with something like a 6-5 or 5-4 edge, not anything more decisive. Which makes Obama’s decision to run a 50-state campaign a critical gamble: He can run in Montana and Mississippi only as long as he can keep organizations and TV ads going in Michigan and Minnesota, too.
So Obama might raise a total of $500 million to McCain’s $400 million. It’s not quite the massive gap that many in the media would lead you to believe. Factor in the campaign’s respective strategies and the advantage arguably shifts back to McCain.
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