It turns out that there may be a reason that Obama is reneging on his gentleman’s agreement to participate in public financed campaign, it appears that McCain is catching him in donations. In May, McCain raised about $22 Million dollars, roughly the same amount that Obama raised. According to the Politico:
McCain reported having about $32 million in cash for primary-related expenses at the end of May. Obama reported having $43 million in hand at the start of June — but about $10 million of that is dedicated to the general election.
So it appears that even their cash on hand is fairly close. What is really amazing is that the GOP had a insanely fortuitous month. The RNC raised about $53 million while the DNC raised only $4 million. Yeah, nothing to see here, the Democrats are united under Obama though (/sarcasm off). Furthermore, if you count the money on hand, the RNC has about 13 times the amount of money to spend compared to the DNC. I thought everyone was sick of the GOP and everyone was excited over Democrats this year?
I realize you can’t compare fund-raising to actual electoral results, however this has to be a glaring red-flag to Democrats. Particularly since Obama was still in a knock-out drag fight with Hillary in May, you would have thought he could have raised a bit more money. McCain has been sitting back almost forgotten since February and he has done much much better then anyone thought he would.
I think the fund raising this year will be interesting. If I were the GOP I certainly would not sit back and think happy days are here again. Reportedly Hillary is trying to get her fund raisers together to help Obama. Say what you like about the Clintons, but they know how to raise a buck. The real question is how willing are the die-hard Clinton supporters going to be to turn around and give money to Obama now? June and July will certainly be interesting to watch from that point of view, if for nothing else.