Washington – Democratic Sen. Barack Obama of Illinois ended the first half of the year with $34 million cash on hand for the presidential contest, while boosting his overall financial picture from April through June with a vigorous fundraising drive, the campaign said today.
The actual amount available for the primary was expected to be closer to $31 million because Obama has also raised money for the general election, which he cannot use unless he wins the nomination.
Obama is expected to have more debt than the $190,000 he reported in April. His spending is likely to be more than twice the $6.5 million he spent in the first three months of the year.
The money in the bank is more than $10 million greater than his cash on hand in April. His chief rival in the money race, Sen. Hillary Rodham Clinton, had not yet filed her financial disclosure, so her cash on hand was not available.
The campaigns had until midnight tonight to file full financial reports to the Federal Election Commission.
Democrat John Edwards increased his cash on hand this quarter despite a drop in contributions for his presidential nomination campaign. In his filing, the Edwards campaign reported $12 million in the bank for the primary elections, an increase of more than $2 million over his cash on hand at the end of March.
Edwards, the former senator from North Carolina and 2004 vice presidential nominee, raised about $8.8 million for the primary from April through June; he also raised $250,000 for the general election, money he can’t use unless he becomes the Democratic nominee.
Overall, Edwards has raised $21.8 million for the primary and $1.3 million for the general election. While trailing Obama and Clinton, Edwards retained his place ahead of New Mexico Gov. Bill Richardson and Sen. Christopher Dodd of Connecticut.
Dodd today reported raising nearly $3.3 million with nearly $6.4 million in the bank. For the year, Dodd has total receipts of $12.1 million, which includes a $4.7 million transfer from his Senate campaign account. Richardson on Saturday reported raising $7 million in the second quarter and having a similar amount in the bank.
With the early nominating contests still six months away, the campaigns have focused much of their attention on fundraising.
While money is a measure of organization and early appeal, it is hardly predictive of how nomination contests will turn out.
“This should not be a race about money or who has the most glitz or celebrity,” Richardson said today after a presidential forum in Chicago put on by a trial lawyers’ group.
Obama’s campaign has said he raised $31 million in primary election contributions during the second quarter; the Clinton campaign has said she raised $21 million in primary funds. Neither has said how much cash it has on hand.
Among Republicans filing today, Ron Paul, the Texas congressman running a longshot campaign, reported raising nearly $2.4 million from April through June and ended the quarter with a similar amount in the bank.
The total is a remarkable showing for Paul, putting him ahead of Arizona Sen. John McCain in cash on hand. Paul still barely registers in public opinion polls and raised far less than McCain or the other leading Republicans. But his libertarian views and opposition to the war in Iraq have lit a fire among nontraditional contributors, particularly on the Internet.
Paul has relied on his debate appearances and on an online network to spread his message. He also spent $120,000 on printing and mailing fundraising letters, his single biggest expense.
Overall, he has raised $3 million for the year and spent $646,000.
Former Massachusetts Gov. Mitt Romney and former New York Mayor Rudy Giuliani, who are leading the Republican field in money and in public opinion polls, reported their finances Friday.
Other presidential candidates filing reports with the FEC:
Sen. Sam Brownback, R-Kan., raised $1.4 million, slightly more than his campaign brought in during the previous quarter. The candidate reported having $460,236 in the bank.
Former Arkansas Gov. Mike Huckabee, a Republican, raised $764,000 for his presidential campaign from April through June and had $437,000 cash on hand at the end of last month.
Former Wisconsin Gov. Tommy Thompson raised $461,000 in the second quarter. The Republican reported nearly $122,000 cash on hand but also listed debts and obligations of more than $127,000.
Lackluster performance in the second quarter already caused one Republican candidate to quit the race. Former Virginia Gov. Jim Gilmore announced Saturday he was withdrawing. Today he reported $62,000 cash on hand and $129,000 in debts and obligations.
