Both presidential candidates have been spending huge amounts of cash on television commercials during the broadcasts of the Olympic games.
Republican John McCain started the month of August with $96 million. And although this may sound like a lot of cash, Republicans have been trying to play catch up to the Democrats in their fundraising efforts, since the two presumptive nominees were chosen.
However, the Arizona senator had his best fundraising month yet in July, bringing in $27 million. It is is the largest amount McCain has ever raised in one month, since securing the GOP nomination. But he has to spend all of that money before the Republican convention is over. That's because McCain opted for public financing during the general campaign and certain restrictions on the use of taxpayer money come with such financing.
"Our fundraising continues to be very healthy," Rick Davis, McCain's campaign manager, said in a conference call with reporters, noting that July was the fifth-straight month McCain has improved his cash flow.
This healthy fundraising has allowed McCain to run more television commercials in the Olympics. Advertising time in the broadcasts of the games is very expensive. Likewise, he has also been able to spend millions on commercials airing on television stations in the eleven battleground states.
Obama and the Democrats have turned out to be prolific at raising campaign funds. Obama, alone has more than two million donors that he can petition for more money at a later time. In contrast, McCain lags behind with 600,000 donors. The Republican Party announced it had reached one million.
The Illinois senator will continue to rely on his record-breaking abilities to raise cash for his campaign. He decided several months ago not to use public financing for the general election, becoming the first presidential candidate in 30 years to choose not to do so. So, Obama must actively build up his cash reserves throughout the fall months. While, McCain on the other hand, needs to spend the money now piled up in his private campaign account.
Source: The Associated Press