Democrat Barack Obama raised $52 million last month for his presidential campaign, more than twice as much as Republican rival John McCain in a significant boost to his financial cache for the fall contest. The Obama campaign and the Democratic National Committee ended June with a combined total of $92.3 million in the bank. The figure represents a notable fundraising jump, especially for the DNC. Obama reported $72 million cash on hand and the DNC $20.3 million. But the Democrats still lag Republican John McCain’s presidential campaign and the Republican Party. Last week, McCain reported raising more than $22 million in June, which was his best month of the year. Together, the McCain campaign and the Republican National Committee began July with about $95 million in the bank.
The reason for the discrepancy, greater fundraising by Obama and the DNC but less money in the bank than McCain and the GOP, is because until now the DNC had spent much of its money, leaving little cash on hand.
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