WASHINGTON (AP) — 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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