Despite $66M August, Obama Needs Money

Campaign must raise $3M per day to reach $200M target
By Kevin Spak,  Newser Staff
Posted Sep 15, 2008 10:55 AM CDT
Campaign workers at the Obama headquarters in Chicago work near a mosaic of Obama's face made of newsprint from a local newspaper, Tuesday, Aug. 12, 2008.    (AP Photo/Charles Rex Arbogast)
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(Newser) – Barack Obama raised more money in August than any presidential candidate ever, but he’s still desperate for cash, reports Politico. Obama has $77 million in the bank, close to the $85 million John McCain has to spend this general election. But McCain will benefit from outside “independent” groups Obama has spurned, and a brimming RNC war chest.

Obama’s big commitment to his unprecedented ground operation is also eating up much of his cash. Obama will have to raise $3 million per day to reach his $200 million target. “Time is not on their side and their goals are so ambitious,” said one finance expert. The situation is forcing Obama to visit solidly blue states for fundraisers, while McCain has the luxury of simply campaigning.