John McCain's campaign earlier reported having raised $47 million in August but because the Republican is accepting federal funding for the general election, the campaign had to donate any remaining money to state and local party organizations as of the first of the month. McCain received about $85 million for the fall campaign when he accepted the GOP nomination. Obama, who is bypassing the federal system, can raise and spend a nearly unlimited amount.
But Republicans expect to remain competitive overall, party because of their national committee. The RNC held a $50 million edge over its Democratic counterpart at the end of July. And, Obama's decision to rely on his own money network means his campaign will have to devote precious time to fundraising as the election surges through the final weeks.