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Obama leads in campaign funding Obama leads in campaign funding
(about 13 hours later)
Democrat Barack Obama has taken the lead over rival Hillary Clinton in the battle to raise funds for the bid to become US president.Democrat Barack Obama has taken the lead over rival Hillary Clinton in the battle to raise funds for the bid to become US president.
The Illinois senator's presidential campaign raised $32.5m (£16.2m) in the period from April to June, a record for a Democratic candidate, his team said.The Illinois senator's presidential campaign raised $32.5m (£16.2m) in the period from April to June, a record for a Democratic candidate, his team said.
Mr Obama has now collected a total of $55.7m (£27.9m) in funding.
But Mrs Clinton, whose team said she raised around $27m (£13.5m) in the same quarter, still leads in opinion polls.But Mrs Clinton, whose team said she raised around $27m (£13.5m) in the same quarter, still leads in opinion polls.
Republican candidate John McCain has raised only $11.2m, his team said.
As a result, several top staff have taken pay cuts and some jobs will be lost in a campaign shake-up, Senator McCain's campaign manager told reporters.
His fellow Republican contenders have yet to announce their second quarter totals but are expected to do so well before the 15 July deadline for submitting reports to the Federal Election Commission.
Grassroots support
Mr Obama's fund-raising success will give added momentum to his campaign to become America's first black president, correspondents say.Mr Obama's fund-raising success will give added momentum to his campaign to become America's first black president, correspondents say.
Mrs Clinton, who leads in national and most state polls, is due to campaign in the key state of Iowa later on Monday with her husband Bill Clinton, hoping to harness the former president's ability to wow the crowds and raise funds. He has now collected a total of $55.7m (£27.9m) in funding, at least $25m (£12.6m) in the first quarter.
DEMOCRATS' FUNDRAISING Barack Obama: $32.5mHillary Clinton: $27mJohn Edwards: $9mBill Richardson: $7mChristopher Dodd: $3.25m According to campaign aides, $31m of his total funds are earmarked for use in party primaries.
DEMOCRATS' FUNDRAISING Barack Obama: $32.5mHillary Clinton: $27mJohn Edwards: $9mBill Richardson: $7mChristopher Dodd: $3.25m Mrs Clinton, who leads in national and most state polls, raised $26m (£13) in the first quarter and has an extra $10m (£5m ) on top, left over from her earlier Senate campaign.
She is due to campaign in the key state of Iowa later on Monday with her husband Bill Clinton, hoping to harness the former president's ability to wow the crowds and raise funds.
Former Senator John Edwards said his campaign had garnered a second-quarter total of just over $9m (£4.5m) from some 100,000 donors.Former Senator John Edwards said his campaign had garnered a second-quarter total of just over $9m (£4.5m) from some 100,000 donors.
Other Democratic candidates Bill Richardson and Christopher Dodd reported raising $7m (£3.5m) and $3.25m (£1.6m) respectively. Fellow Democratic candidates Bill Richardson and Christopher Dodd reported raising $7m (£3.5m) and $3.25m (£1.6m) respectively.
Republican candidates have not yet announced their funding totals for the second quarter but are expected to do so well in advance of the 15 July deadline for submitting reports to the Federal Election Commission. Mr Obama said he had received at least 154,000 contributions in the last accounting period, bringing the total number of donors to 258,000 in the first half of the year.
Mr Obama said he received at least 154,000 contributions in the last accounting period, bringing the total number of donors to 258,000 in the first half of the year. This made his the "largest grassroots campaign" for this stage of a presidential race, he said.
Mr Obama said his was the "largest grassroots campaign" for this stage of a presidential race.
"We now have hundreds of thousands of Americans who are ready to demand health care for all, energy independence and an end to the war in Iraq," Mr Obama said."We now have hundreds of thousands of Americans who are ready to demand health care for all, energy independence and an end to the war in Iraq," Mr Obama said.
"That's the kind of movement that can change the special interest-driven politics in Washington and transform our country, and it's just the beginning.""That's the kind of movement that can change the special interest-driven politics in Washington and transform our country, and it's just the beginning."
According to campaign aides, $31m of Mr Obama's total funds are earmarked for use in party primaries.
RepublicansRepublicans
In the first quarter of the year, Mr Obama raised at least $25m (£12.6m) and Mrs Clinton raised $26m (£13). Mr McCain's disappointing showing will be a setback for the Arizona senator, once considered to be the frontrunner for the Republican nomination but now trailing his main rivals in many polls.
However Mrs Clinton has an extra $10m (£5m ) on top of these donations, left over from her earlier Senate campaign. John McCain's campaign team now has little cash on hand
He had already announced an overhaul of his fundraising operation in April after declaring a disappointing $12.5m (£6.2m) for the first quarter of 2007.
Campaign manager Terry Nelson blamed a general disenchantment among the Republican faithful for the team's failure to raise more cash, which leaves them with only $2m on hand.
Mr McCain's support for the Iraq war and the immigration bill which failed in the Senate last week may also have cost him some support, observers say.
On the Republican side, former Massachusetts Governor Mitt Romney indicated on Friday that his second quarter funds fell short of the $21m (£10.5m) raised in the first quarter.On the Republican side, former Massachusetts Governor Mitt Romney indicated on Friday that his second quarter funds fell short of the $21m (£10.5m) raised in the first quarter.
Rudolph Giuliani, who raised nearly $15m (£7.5m) in the first quarter, is expected to announce his figures on Monday or Tuesday. Former New York Mayor Rudolph Giuliani, who raised nearly $15m (£7.5m) in the first quarter, was expected to announce his figures on Monday or Tuesday.
Senator John McCain is hoping to come in third in the Republican fund-raising stakes, correspondents say. Money pledged for the presidential election in November 2008 - should a candidate become their party's nominee - cannot be spent on campaigning for the primary.
He announced an overhaul of his fundraising operation in April after declaring a disappointing $12.5m (£6.2m) for the first quarter of 2007.
Money pledged for the presidential election in November 2008 - should a contender become their party's nominee - cannot be spent on campaigning for the primary.