RNC Retains $50 Million Cash Advantage Over DNC [View All]

[Hope And Change]

RNC Retains $50 Million Cash Advantage Over DNC


By Eric Kleefeld - June 23, 2008, 11:00AM

Here are some new fundraising numbers that complicate the notion that Obama will have an enormous fundraising advantage over McCain this fall: The Republican National Committee now has $50 million more on hand than its Dem counterpart.

The latest FEC filings show that the RNC raised over $24 million in the month of May alone, and has over $53 million cash on hand. By contrast, the DNC raised only $4.8 million, and has just under $4 million cash on hand -- a paltry amount compared to the national GOP's coffers.

This is significant because it reveals just how important Obama's decision to forego public financing really is -- and how much of a risk he's taking by effectively closing down the 527s on his side. Obama will unquestionably retain an enormous head-to-head money advantage over McCain's official campaign committee, but the GOP will almost certainly be able to step in with a parallel apparatus that will be formidable.

http://tpmelectioncentral.talkingpointsmemo.com/2008/06/gop_retains_50_million_cash_ad.php