McCain's Money Starts Flowing -- He Raises $22 Million In May
In an indication that Dems perhaps can't count on John McCain to be all that underfunded for the general election, McCain was able to raise $22 million in May, his best month yet, and up from $18.5 million raised in April.
Barack Obama's May numbers aren't in yet, but it seems likely that he'll have outdone McCain's numbers when one consider he raised $30.7 million in April.
On the other hand, while Obama is still quite likely to out-raise McCain over the whole cycle, at this point it's by no means a safe bet that it'll be a truly overwhelming advantage.
Late Update: The latest numbers show that McCain has $31.5 million total cash on hand. In short, money will probably not be a huge problem for him this Fall.















Do we know what Obama's May numbers are yet? I imagine his June numbers will be Epic.
June 5, 2008 12:49 PM | Reply | Permalink
Now we have to add in RNC vs. DNC numbers, which are not pretty. The DNC is seriously lagging behind the RNC in fundraising, and that's money used for the presidential election campaign. The much higher contribution limits now kick in as well, so big McCain (or Romney or Bush/Cheney) donors can go from $2300 for the primary and $2300 for the general to a whopping $28,500 for the RNC!
That's why Obama now has someone at the DNC from his camp, to try to start catching up. We should dig into the RNC numbers to see how much is from lobbyists and PACs as well, to see how meaningful in $$ the Obama no PAC/lobbyist pledge is.
June 5, 2008 4:41 PM | Reply | Permalink
If even 25% of Hillary's donors give something to Obama, he will indeed dwarf McCain
June 5, 2008 12:50 PM | Reply | Permalink
Great point Eric.
LISTEN UP ALL YOU TPM'ers, IT IS TIME TO DONATE MORE MONEY TO THE OBAMA CAMPAIGN.
This really is OUR time, lets do what we can now, while we still can!!!!
http://my.barackobama.com/page/content/semr?source=SEM-register-google-obama-search-national
June 5, 2008 12:51 PM | Reply | Permalink
Ooooo, I think the rich bastards who pull the puppet strings on Bush, Cheney, and Co. are starting to get scared! They see the writing on the wall.... President Obama.
The more frightened they get, the more their money will flow in....
June 5, 2008 12:53 PM | Reply | Permalink
My guess is that a lot of McCain's donations will be close to or at the limit of $2300. He might get a lot of money up front this way, but as happened with Hillary, the well will run dry quickly. Obama, however, will have an entire ocean of small-dollar contributors that he can tap into throughout the general.
June 5, 2008 12:56 PM | Reply | Permalink
Yep, I'll donate more now that the general is on. I just didn't want him to blow all the cash on the primary - you know how it is with these young whippersnappers!
June 5, 2008 1:00 PM | Reply | Permalink
That's not change we can -- what does that say? Oh, "ha ha". That's not change we can ha ha believe in!
June 5, 2008 1:03 PM | Reply | Permalink
Clinton 17,802,300
Obama 17,501,751
Clinton should run as an Independent.
She has more votes than Oilbama.
June 5, 2008 1:05 PM | Reply | Permalink
Ahh, your tears, they are so sweet.
Another bowl please.
June 5, 2008 1:20 PM | Reply | Permalink
I have been told on excellent authority that the shelf-life of a defeated candidates is shorter than a gallon of milk.
June 5, 2008 1:28 PM | Reply | Permalink
Ooops, I meant "the shelf life of the votes of a defeated candidate."
Damn, I wish TPM has a preview feature! Why can't we be state of the art like other blogs?
June 5, 2008 1:29 PM | Reply | Permalink
"Oilbama"? Wow, that's a new one.
Wouldn't that be awesome if that's the
spin the right goes with:
Yeah, Obama is in league with the oil cartel!
I love it! So inspired!
I also hear he's in league with the KKK.
Pass it on.
June 5, 2008 1:48 PM | Reply | Permalink
Steal your face right off of your head.
June 5, 2008 1:59 PM | Reply | Permalink
Lanny Davis just joined VoteBoth.com as a senior advisor. There's the nail in that coffin.
June 5, 2008 1:06 PM | Reply | Permalink
Yeah, doesn't he realize that he hurts her cause more than he helps it?
On second thought, nevermind.
June 5, 2008 4:37 PM | Reply | Permalink
So is everyone just going to give up on holding McCain to Federal Matching Funds?
June 5, 2008 1:08 PM | Reply | Permalink
No breakdown here (or in the link) on how much of that is "primary" funds & thus available before September. Also no breakdown on small contributions vs. maxed out donors -- thus no sense of McC's ability to keep the spigots on. The very absence of such info is highly suggestive.
The story does point out that McCain "has spent a large chunk of his time raising money in between campaign stops" while Obama & Hillary have been mostly, you know, campaigning. One of the most important aspects of Obama's fundraising is that it has occupied an unprecedentedly small portion of the candidate's time. That advantage is likely to continue.
Of course there will be plenty of money spent on the Repub side both by McCain & by others. But the Republican's historical advantage in $$ is gone. Obama will have much more, and will have more direct control over most of it. Whether this will be "overwhelming" is not measurable -- at least not now.
June 5, 2008 1:12 PM | Reply | Permalink
McCain is still in deep shit on the whole financing question. As of now so far as I know he is still under his public financing pledge for the primary, and almost certainly gone over the legal limit. He notified the FEC that was opting to drop out of the public funding pledge but so far the FEC has turned him down. This could turn out to be a real big side issue in the campaign.
On Obama's side, he made some kind of pledge to go with public financing in the general if McCain did the same. So far nobody can hold him to the pledge because the Obama is not the official nominee yet.
But count on it, this will be an issue, and a big one after both candidates have been officially nominated. From Obama's point of view the ideal would be for the FEC to release McCain from the pledge, but so far it has not happened because the FEC, lacking a quorum of directors, is defunct.
What a mess.
June 5, 2008 1:25 PM | Reply | Permalink
I'm certain the unbid contractors of the loyal Bushite brigade just love giving to McBush the II, who is everything Bush ever was to unbid contractors, a friend, confident, a criminal con-conspirator.
The definition of pork is giving the taxpayer money back to taxpayers instead of simply your friends in the way Bush does it and now John McCain who is only GIVING TAXPAYER money to unbid contractors, his friends - and McCain can't get more Bush like than that.
Republican is simply synonymous with word criminal these days, because Republican certainly doesn't mean conservative. There is nothing conservative about unbid contracts, but most certainly there is everything criminal about it.
June 5, 2008 1:57 PM | Reply | Permalink
I'm actually waiting to donate again to Obama to make sure my dollars are spent torching the mccain campaign and not Hillary's consolation prize. I have a feeling that the lastest financial reports will be dwarfed compared to next months now that he's flying solo.
June 5, 2008 2:06 PM | Reply | Permalink
Obama cannot legally give money raised through his campaign to another candidate, so you can relax about making a donation to him. With one exception: Obama's campaign can make a maximum donation of $2,300 to Hillary, but I don't think that would be they way they will go.
However, it is legal for him to do fund raisers using his connections for Hillary. If Obama agrees to help Hillary with the bills, that is the likely way to do it.
June 5, 2008 2:33 PM | Reply | Permalink
Thanks for the clarification....I was never clear on how he would help diminish her debts. Time to open the wallet again.
June 5, 2008 2:41 PM | Reply | Permalink
Take a look at some of the numbers:
• If each of Obama's donors gave him a modest $250, he'd have $375 million to spend during the two-month general election sprint. That's $186 million a month; $47 million a week.
• During the same September to Nov. 4th period, McCain will have about $85 million to spend since he has decided to take taxpayer money to help finance his campaign activities.
• Obama has more than 1.5 million donors; McCain has a few hundred thousand. If just a million of Obama's donors sent him the maximum donation, $2,300, he could raise $2.3 billion.
http://www.huffingtonpost.com/2008/06/05/obamas-money-machine-inst_n_105404.html
June 5, 2008 4:56 PM | Reply | Permalink
Modest $250? His average so far is less than $100. I understand that general election campaigns can expect higher donations, but still...
I'd also like to express my belief that political ads are far less important than being talked about on the news and media, which requires no cash. I don't see Obama having a major advantage over McCain in this fashion. Also, if Obama agrees to the debates McCain has been asking for, that could make Obama's money even less important.
June 5, 2008 6:07 PM | Reply | Permalink