Obama's new distraction--campaigning for money

Politico:

Barack Obama's $66 million haul in August donations may set records but it's only a down payment on the huge sums the Democratic presidential nominee must continue to collect in order to compete through the Nov. 4 election.

Obama is attempting to become the first candidate to privately finance the general election phase of his campaign, and his August performance seems to be a good start.

His announcement that he had $77 million in cash in the bank at the end of August came strikingly close to the roughly $85 million in taxpayer funds that Republican John McCain has to spend on the entire general election.

But the August sum came after a full-court press by the campaign and in the midst of the Democratic National Convention, historically an easier time to generate donations because the party base is focused and united. The campaign announced that it had recruited 500,000 new donors in August, which brings the number of total contributors to 2.5 million.

Meanwhile, Alaska Gov. Sarah Palin's selection as McCain's running mate has lit up the Republican National Committee's online fundraising, creating a vibrant and fresh source of income to add to the party's already formidable big donor program.

RNC officials said Internet donations have quadrupled since Palin joined the ticket.

...
The Republicans are getting the kind of excitement Obama had last fall and he is trying to sprint to the finish with a fund raising job on his back. I think it will be weighing him down some this fall. Meanwhile Palin has energized Republican and gotten many to loosen their wallets finally. Obama needed to bring in $100 million a month this summer to reach his spending objectives. He did not come close and that is why he has pulled back in several Red States.

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