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Obama tops campaign fund-raising Obama tops campaign fundraising
(about 3 hours later)
Democratic US presidential candidate Barack Obama is well ahead in the race for campaign funds, official figures filed in Washington have confirmed.Democratic US presidential candidate Barack Obama is well ahead in the race for campaign funds, official figures filed in Washington have confirmed.
Mr Obama raised some $32.8m (£16.4m) in the second quarter of 2007 while fellow Democrat Hillary Clinton, who is ahead in the polls, raised $27m. Senator Obama raised some $32.8m (£16.4m) in the second quarter of 2007 while fellow Democrat Hillary Clinton, who is ahead in the polls, raised $27m.
New York's ex-mayor Rudolph Giuliani led the Republicans on $17.5m. New York's ex-mayor Rudolph Giuliani led the Republicans with $17.5m.
Candidates are garnering money more quickly than ever but for some spending is rapidly outstripping fund-raising. Candidates are garnering money more quickly than ever but for some spending is rapidly outstripping fundraising.
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 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 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.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 (D) - $32.8mHillary Clinton (D)- $27.1mRudolph Giuliani (R) - $17.5mMitt Romney (R) - $14m John McCain (R) - $11.2mJohn Edwards (D) - $9mSource: reports filed to the US Federal Election Commission See graph comparing fundsAPRIL-JUNE 2007 FUNDRAISING Barack Obama (D) - $32.8mHillary Clinton (D)- $27.1mRudolph Giuliani (R) - $17.5mMitt Romney (R) - $14m John McCain (R) - $11.2mJohn Edwards (D) - $9mSource: reports filed to the US Federal Election Commission See graph comparing funds
Much more money is flowing into the Democratic race than the Republican.Much more money is flowing into the Democratic race than the Republican.
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.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, our correspondent says.The question is whether he can do it politically, our correspondent says.
The Obama camp is suggesting that his is a powerful grassroots campaign, with 250,000 individual donors. The Obama camp is suggesting that his is a powerful grassroots campaign, with more than 250,000 individual donors.
However, a significant amount of his campaign funds is coming from big investment firms.However, a significant amount of his campaign funds is coming from big investment firms.
Mr Obama's total of $32.8m is nearly all for the primary election. The Illinois senator's total of $32.8m for the second quarter is nearly all for the primary election.
Mrs Clinton raised $21.5m for the primary election with a further $5.6m to spend if she wins the Democratic nomination. Mrs Clinton, senator for New York, raised $21.5m for the primary election with a further $5.7m to spend in the general election campaign if she wins the Democratic nomination.
Democrat John Edwards, former senator for North Carolina, raised $9m and spent $6.4m in the second quarter.
He had $13.3m cash on hand at the end of the three-month period, compared with Mr Obama with $36.3m and Mrs Clinton with $45.2m, boosted by a $10m transfer in the first quarter from her Senate campaign fund.
Staff costsStaff costs
For the Republicans, Mr Giuliani's $17.5m made him the top fund-raiser, while former Massachusetts Governor Mitt Romney raised $14m. For the Republicans, Mr Giuliani's $17.5m made him the top fundraiser, while former Massachusetts Governor Mitt Romney raised $14m.
His outgoings for the same period were $20m. However, Mr Romney has a huge personal fortune and has already lent his campaign nearly $9m. His outgoings for the same period were $20.5m, nearly a quarter of which was for television advertising. However, Mr Romney has a huge personal fortune and has already lent his campaign nearly $9m.
Some of the other candidates in the crowded field are already facing the crunch with their fund-raising not matching their expenditure. Some of the other candidates in the crowded field are already facing the crunch with their fundraising not matching their expenditure.
Republican Senator John McCain's campaign raised $11.2m but he spent $13m. Republican Senator John McCain's campaign raised $11.3m but he spent $13m. His campaign also has debts of about $1.8m.
Mr McCain, who has been trailing in the polls behind Mr Giuliani and Mr Romney, has already shaken up his campaign team amid disappointing fund-raising results. Mr McCain, who has been trailing in the polls behind Mr Giuliani and Mr Romney, has already shaken up his campaign team, reportedly cutting dozens of jobs, amid disappointing fundraising results.
Two senior campaign aides resigned last week and more are thought likely to follow.
Employing staff to run campaigns in various part of the country was the biggest expenditure for all candidates.Employing staff to run campaigns in various part of the country was the biggest expenditure for all candidates.
Travel also accounted for a large part of budgets, with candidates spending a total of $8m to get around the country.Travel also accounted for a large part of budgets, with candidates spending a total of $8m to get around the country.
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