It's hard to appreciate the sheer size of the financial advantage Obama will enjoy over McCain. For Democrats, who're used to being effortlessly outspent, it doesn't even sound plausible. But McCain, with his lax fundraising and decision to accept public financing, will have about $85 million for the election, with another $40 million coming from the RNC, some of which will go to the McCain campaign, some of which won't. By contrast, a very conservative estimate for the Obama campaign's fundraising is $300 million. A high estimate, in which 2/3rds of his donors max out at $2,300, is $2.3 billion. And neither of these totals include the new donors he's likely to get, nor the pool of Clinton funders who he's going to begin hoovering money from. I'm expecting him to raise $500 million easily.In a national election, money isn't everything. Free media matters too. That's why the McCain campaign is desperately pleading with the Obama campaign to do 10 televised debates and townhalls, the better to equalize exposure. But money is how you fund organization. It's how you fund field. It's how you fund ads. It's how you set the terms of the debate. It's how you make the other campaign spend defensively. Obama will be able to fully fund his campaign in every state he thinks he can win and most states he doesn't. And he'll be able to do so while raising the money passively -- unlike McCain, he won't have to waste flying around to endless fundraisers.McCain, by contrast, will have to make hard choices. He'll have to choose where to spend, and what on. Which attacks to rebut, and which assaults to launch. As Ed Kilgore concludes, "in assessing a general election campaign that currently looks like a cliffhanger, add financial resources to partisan identification trends, the issue landscape, and the mood of the country, as factors that should give Obama an edge. These factors do not in any way guarantee a Democratic victory, but it sure doesn't hurt to have so many aces in the hole."Photo used under a Creative Commons license from Tracy O. OBAMA IS RICH. RICH!
It's hard to appreciate the sheer size of the financial advantage Obama will enjoy over McCain. For Democrats, who're used to being effortlessly outspent, it doesn't even sound plausible. But McCain, with his lax fundraising and decision to accept public financing, will have about $85 million for the election, with another $40 million coming from the RNC, some of which will go to the McCain campaign, some of which won't. By contrast, a very conservative estimate for the Obama campaign's fundraising is $300 million. A high estimate, in which 2/3rds of his donors max out at $2,300, is $2.3 billion. And neither of these totals include the new donors he's likely to get, nor the pool of Clinton funders who he's going to begin hoovering money from. I'm expecting him to raise $500 million easily.In a national election, money isn't everything. Free media matters too. That's why the McCain campaign is desperately pleading with the Obama campaign to do 10 televised debates and townhalls, the better to equalize exposure. But money is how you fund organization. It's how you fund field. It's how you fund ads. It's how you set the terms of the debate. It's how you make the other campaign spend defensively. Obama will be able to fully fund his campaign in every state he thinks he can win and most states he doesn't. And he'll be able to do so while raising the money passively -- unlike McCain, he won't have to waste flying around to endless fundraisers.McCain, by contrast, will have to make hard choices. He'll have to choose where to spend, and what on. Which attacks to rebut, and which assaults to launch. As Ed Kilgore concludes, "in assessing a general election campaign that currently looks like a cliffhanger, add financial resources to partisan identification trends, the issue landscape, and the mood of the country, as factors that should give Obama an edge. These factors do not in any way guarantee a Democratic victory, but it sure doesn't hurt to have so many aces in the hole."Photo used under a Creative Commons license from Tracy O. 
