Tags: obama | cash | advantage

Obama Set for 2-to-1 Cash Advantage

Monday, 13 Oct 2008 11:54 AM

By Jim Meyers

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Democratic presidential nominee Barack Obama has racked up a huge fundraising advantage over rival Republican John McCain and is using that edge to outspend the GOP candidate on TV advertising.

Obama had more than $77 million on hand at the end of August, the close of the last reporting period, and “is on a pace to raise at least $100 million more by Election Day,” according to the Los Angeles Times.

“That would mean a cash advantage over McCain of better than 2-to-1.”

Overall, Obama has raised $454 million through August and will surpass $500 million by Election Day. McCain raised $210 million for the primaries but in the general election race he cannot spend more than the $84.1 million he accepted in public funding. Obama rejected the money from Washington and can continue to raise funds.

Thanks to his enormous war chest, Obama has been outspending John McCain on television advertising by a hefty margin of nearly 3-to-1 — an edge that’s helping to boost the Democrat’s campaign in key battleground states.

As Newsmax reported last week, Obama spent more than $20 million on TV ads in 17 key states from Sept. 30 to Oct. 6, while McCain spent only $7.2 million in 15 of those states.

In the week before last, Obama outspent McCain in TV advertising by more than 3-to-1 in Florida and Virginia, 2-to-1 in New Hampshire and Missouri, and 3-to-2 in Nevada, the Times reported.

Obama has also used his fundraising edge to turn once solid Republican states into battlegrounds — during that week he outspent McCain by more than 8-to-1 in North Carolina and 3-to-1 in Indiana.

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