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Obama tops Democratic fundraising Obama tops Democratic fundraising
(30 minutes later)
Democratic presidential front-runner Hillary Clinton is facing a continuing threat from Barack Obama, reports filed to US electoral officials suggest. Democratic presidential candidate Barack Obama is leading the race for campaign funds ahead of fellow Democrat Hillary Clinton, official figures show.
Mr Obama, the senator from Illinois, raised more than $30m in the second quarter of 2007, according to the official returns filed last night. Mr Obama raised some $32.8m (£16.4m) in the second quarter of 2007, while Mrs Clinton raised some $27m (£13.5m).
They show that Mrs Clinton, the senator from New York, raised just under $30m. New York's ex-mayor Rudolph Giuliani led the Republicans on $17.5m (£8.75m).
This is more than the entire Democratic field of hopefuls managed at the same time in the run-up to the 2004 poll. Candidates are raising money more quickly than ever but their spending is also keeping pace, with some having very little in the bank.
Grassroots power The amount raised by Mr Obama and Mrs Clinton is more than the entire Democratic field of hopefuls managed at the same time in the run-up to the 2004 poll.
The Democrats in other words are on fire, with their supporters willing and able to back these two big-name candidates with enough cash for sophisticated and expensive campaigns. The figures show that their supporters are willing and able to back these two big-name candidates with enough cash for sophisticated and expensive campaigns, says the BBC's Justin Webb in Washington.
APRIL-JUNE 2007 FUNDRAISING Barack Obama - $33mHillary Clinton - $27.1mSource: reports filed to the US Federal Election Commission APRIL-JUNE 2007 FUNDRAISING Barack Obama - $32.8mHillary Clinton - $27.1mRudolph Giuliani: $17.5mMitt Romney $14mSource: reports filed to the US Federal Election Commission
Much more money is flowing into the Democratic race than the Republican.Much more money is flowing into the Democratic race than the Republican.
Sen Obama's take, easily the biggest ever for a Democrat at this stage of the electoral cycle, suggests that he will be capable of matching Sen Clinton financially all the way into next year. Mr Obama's take, easily the biggest ever for a Democrat at this stage of the electoral cycle, suggests that he will be capable of matching Mrs Clinton financially all the way into next year.
The question is whether he can do it politically. The question is whether he can do it politically, our correspondent says.
The Obama camp are suggesting that his is a powerful grassroots campaign - 250,000 individual donors.The Obama camp are suggesting that his is a powerful grassroots campaign - 250,000 individual donors.
But Sen Clinton is still ahead in the polls and her financial position is perfectly secure. However, a significant amount of his campaign funds is coming from big investment firms.
Despite Mr Obama's fund-raising success, Mrs Clinton is still ahead in the polls and her financial position is perfectly secure.
For the Republicans, Mr Giuliani's $17.5m made him the top fund-raiser, while former Massachusetts Governor Mitt Romney raised $14m (£7m).
His outgoings for the same period were $20m (£10m). However, Mr Romney has a huge personal fortune and has already lent his campaign nearly $9m (£4.5m).
Some of the other candidates in the crowded field are already facing the crunch with their fund-raising not matching their expenditure.
Republican Senator John McCain's campaign reported spending more than it raised in the second quarter, leaving it with a $1.8m (£900,000) debt.