Colin Powell backs Obama

DUNN, N.C. -- Barack Obama won the coveted endorsement of Colin Powell this morning and his campaign announced it had raised a staggering $150 million in September, giving the Democratic front-runner two big boosts heading into the final weeks of the presidential campaign.

Powell hailed the Illinois senator as a "transformational figure" and expressed disappointment in the negative tone of Republican John McCain's campaign, as well as his choice of Alaska Gov. Sarah Palin as running mate.

Powell said both Obama and McCain were qualified to serve as commander in chief, but not Palin. He also suggested Obama was better suited to handle the nation's economic problems and build its stature around the world.

Powell, 71, a retired Army general who served as President Bush's first secretary of state, delivered his endorsement in an appearance this morning on NBC's "Meet the Press."

"We need a president that will not just continue, even with a new face and some changes and with some maverick aspects, will not just continue basically the policies that we have been following in recent years," said Powell, a Republican who served in three GOP administrations.

Robert Gibbs, Obama's communications director, said Obama called Powell after the program and said how honored he was to have received his support. In a 10-minute conversation, the Illinois senator said he was looking forward to taking advantage of Powell's advice in the next two weeks and, hopefully, over the next four years.

McCain responded in an interview on "Fox News Sunday."

"We have a respectful disagreement," McCain said of Powell's statement that Obama was ready to be president.

Although Powell had remained studiously neutral throughout the presidential campaign, his endorsement of Obama was not altogether surprising, given the kind things he has said about Obama. The stunner this morning was the announcement of the Democrat's September fundraising haul.

The $150 million figure -- shattering by leaps all fundraising records -- was revealed in an e-mail dispatched to supporters Sunday morning by campaign manager David Plouffe. He said the campaign added 632,000 new donors in September, for a total of 3.1 million contributors to the campaign. He said the average donation was $86.

Obama's cash receipts give him well more than a 2-to-1 advantage over McCain, who accepted $84 million in federal funding for the fall campaign and, with it, restrictions on his total spending.