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Obama Raises $52 Million in June, Tops McCain's Haul (Update3)

By Kristin Jensen and Jonathan D. Salant


July 17 (Bloomberg) -- Democratic presidential candidate Barack Obama raised $52 million in June, his second-biggest monthly haul and more than double Republican rival John McCain's total.

At the end of June, Obama had $72 million to spend and the Democratic National Committee had another $20 million available. McCain had $27 million on hand, while the Republican National Committee's coffers swelled to $68 million.

Obama's goal is raising $300 million for the general election with the party seeking to amass another $150 million -- enough to carry the Democratic presidential campaign to states that normally vote Republican. For example, Obama this week will open 20 offices in Virginia, which hasn't supported a Democratic presidential candidate since 1964.

``I think they figured out during the primary season how to print money and they will continue to do so, but it will be a monumental effort,'' said Heather Podesta, who raised more than $100,000 for Hillary Clinton's presidential campaign. As a registered lobbyist, she won't be able to raise funds for Obama.

Obama's June haul is second only to the $55.4 million he raised in February. All but $2 million raised last month was for the primary campaign, meaning the same donors can contribute to his general election campaign.

Outpacing McCain

The Illinois senator has outpaced McCain all year in fundraising, attracting more than 1.7 million donors, many of them online.

McCain reported taking in $22 million in June, his best month.Both candidates must file fundraising and spending reports with the Federal Election Commission by July 20.

McCain has been able to close the fundraising gap with the help of the Republican National Committee, which has been far more successful than its Democratic counterpart.

Obama campaign manager David Plouffe pointed out that disparity as he appealed to supporters for another round of donations of as little as $5.

``We have developed a strategy -- a very aggressive strategy -- that will only work if our millions of supporters continue to contribute their time and their money,'' Plouffe said in a note to supporters this morning.

Public Financing

McCain opted to take $84.1 million in public financing in the general election phase of the race, which begins when he formally accepts his party's nomination at the Republican convention in September.

Obama rejected public financing, betting he can raise more from private contributors. He is the first major-party candidate to shun public funds for the general election since the current system was put in place for the 1976 election after the Watergate scandal.

After forgoing federal funds, Obama has spent much of his time crisscrossing the country to raise money, often in states that won't be contested in the general election. Last week, he attended 11 fundraisers in Georgia, New York, California and Illinois and came away with more than $12 million. The largest donation was $33,100.

While small donors may respond to an e-mail, big contributors want to shake the candidate's hand before handing over the check, Democratic consultant Glenn Totten said.

``You expect to have a snapshot of you and the candidate,'' he said. ``You expect him to say, `It was a pleasure to meet you.' It's something you don't get on the Internet.''

Obama's absence now from swing states won't hurt him, said James Bonham, former executive director of the Democratic Congressional Campaign Committee.

``Voters in battleground states will be so intimately familiar with every aspect of both candidates by the time the election rolls around that any candidate spending a day away from those states is immaterial,'' he said.

To contact the reporters on this story: Kristin Jensen in Chicago at kjensen@bloomberg.net; Jonathan D. Salant in Washington at jsalant@bloomberg.net.

Last Updated: July 17, 2008 16:58 EDT