The cash contest

Jim Geraghty:

News from David Plouffe of Team Obama this morning:

In the month of June, supporters like you helped raise $52 million. And together with the DNC, we now have nearly $72 million in the bank. That's a very strong financial position to be in.

But we remain at a massive disadvantage to our opponents.

As I mentioned in my video message earlier in the week, the McCain Campaign and the Republican National Committee finished June with nearly $100 million in the bank.*

Good for Team Obama, but we're left wondering... why all the secrecy? Why wait until mid-month to reveal they raised more than twice what the McCain campaign raised?

It's a fine bounce-back for Obama... but pretty far from the $100 million some of his supporters were talking about.

UPDATE: A reader articulates my second reaction:

So Obama outraised McCain more than 2:1 in June and still has $23 million LESS than McCain/RNC. Amazing. Howard Dean is a catastrophe for the DNC. Also, Obama’s cash burn rate must be incredible, and he still has only a 3-4% lead in July to show for it.

Obama ended May with $43 million cash on hand, McCain ended the month with $31.6 million on hand.

The DNC ended May with $3.9 million cash on hand, the RNC, $53.5 million. CNN puts the current McCain/RNC combined cash on hand total at $95 million.

...

I think they are going to be much closer between now and the conventions than Obama and the Democrats expected. It will be the September and October numbers that may spell the difference. That is when McCain will be campaigning using federal funds and Obama will also have to be fund raising too.

We should also keep an eye on the "burn rate" for Obama. He has gotten used to spending a ton of money in the primaries and getting little bang for his bucks in many of the most big states where he still lost to Hillary outspending her sometimes three to one.

McCain has mastered the boot strap campaign in winning the nomination and is still effectively using it with his townhall meetings and YouTube ads that probably get more play than they do on TV. While Obama was raising more money in June he was losing support in the polls.

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