Barack Obama raises the funding roof
His haul of $66 million in August bests John McCain and puts the Democrat well ahead of the record for total fundraising.
Democratic presidential candidate Barack Obama raised a record $66 million in August, his highest monthly figure and almost $20 million more than Republican rival John McCain.
Obama's total since entering the race in early 2007 is now more than $450 million -- a figure that confirms his standing as the most successful fundraiser in U.S. political history.
Obama has surpassed President Bush as history's most prolific political fundraiser. Bush raised $270 million for his reelection campaign four years ago, and $95 million in 2000, for a total of $365 million.
Additionally, the Democratic National Committee and other committees established by the DNC and the candidate raised $17.3 million in August.
The Obama campaign also said $10 million came in during the days after Aug. 29, when McCain selected Sarah Palin as his vice presidential nominee.
The Republican National Committee took in $23 million in August. With McCain's $47 million, the two sides will have entered the final two months with combined bank accounts of about the same size.
Anthony Corrado, a campaign finance expert at Colby College in Waterville, Maine, predicted that Obama, McCain and their political parties would spend $220 million to $240 million each between now and Nov. 4.
"They have built an infrastructure like we've never seen," Corrado said of the Obama campaign, pointing to the $20 million Obama has poured into a Latino voter registration drive and field operations in the battleground states.
Obama's latest receipts counter talk that his fundraising had tailed off. Corrado said such talk reflected a lack understanding of how Obama had built his fundraising operation.
Obama relies on high-end donors to give the maximum $2,300 directly to his campaign account, but has more than 2 million donors overall, many of whom give small amounts regularly over the Internet.
Obama has several large-dollar fundraisers in the coming days, including one Tuesday at Greystone Mansion in Beverly Hills. Donors are expected to give $28,500 to the Democratic National Committee.
Barbra Streisand will headline a separate event at the Regency Wilshire in Beverly Hills that same evening.
Additionally, former President Clinton has promised to campaign for Obama and is sure to raise millions more.
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