Obama's Fundraising Skyrockets After Slow May

Democratic Illinois Sen. Barack Obama raised $52 million last month for his presidential bid, easily outstripping the $22 million collected by Republican Arizona Sen. John McCain.

June was Obama's second-best fundraising month, reversing several months of decline. Receipts were just a tick behind the $55 million he raised in February, at the height of the primary contest.

McCain's campaign said last week that June was his best month yet, with more than $22 million raised. A rumor, now discredited, had held that Obama's fundraising wasn't much better than that.

Obama has to outraise McCain, because he's using private funds for the fall campaign. McCain is taking $84 million in federal funds.

Overall, the money race looks less lopsided than it did a couple of months ago, in part because the fall contest will be paid for by the candidates and their national party committees.

Obama and the Democratic National Committee went into July with $92 million dollars on hand.

McCain and the Republican National Committee had $95 million.

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