Decision 2008: Obama, McCain Combine for Record Spending

For all of Barack Obama's remarkable fundraising, he enters the final two months of the presidential contest on virtually the same financial footing as John McCain.Finance reports filed with the Federal Election Commission show Obama and the Democratic National Committee ended August with 95 million dollars in the bank.

By: Associated Press | Alabama's13.com
Published: September 21, 2008

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WASHINGTON (AP) - For all of Barack Obama's remarkable fundraising, he enters the final two months of the presidential contest on virtually the same financial footing as John McCain.

Finance reports filed with the Federal Election Commission show Obama and the Democratic National Committee ended August with 95 million dollars in the bank. McCain and the Republican National Committee had about 94 million.

The two combined to spend a record 94 million dollars last month -- more than half of it on advertising. They also collectively raised more than 110 million dollars.

Unlike Obama, McCain is accepting 84 million in public money for the remaining two months of the campaign. Surplus cash raised privately was turned over to the national and state Republican party committees, which can still help him this fall.