Clinton Has $24 Million for Primaries

Graphic shows how much campaign money Rudy Giuliani has raised from Jan. 1 to March 31, 2007; 1c x 2 1/4 inches; 46.5 mm x 57 mm (Dgm - AP)

WASHINGTON -- Hillary Rodham Clinton banked a daunting $24 million for the Democratic presidential campaign at the end of the first quarter even as rival Barack Obama outraised her in a display of fundraising prowess.

Clinton, the senator from New York, raised $19 million for the primary election, trailing Obama, who collected $24.8 million in donations for the primary.

Obama reported $18.2 million cash on hand for the primary, keeping him at Clinton's heels as the presidential campaign enters a more intense second quarter.

The first quarter financial reports established Clinton and Obama as the undisputed money leaders of the Democratic field, a significant but not determining factor in politics. The reports also show that as a group, Democratic presidential candidates outraised Republicans by a margin of eight to five.

John Edwards, the Democrat's vice presidential nominee in 2004, established himself as a likely alternative to Clinton and Obama by raising $13 million for the primary and reporting $9.8 million in the bank at the end of the quarter.

Clinton was able to boost her cash on hand with a $10 million transfer from her Senate campaign account, money left over from her easy Senate victory last year.

Both she and Obama spent similar amounts during the quarter and were thriftier than Republicans Mitt Romney and John McCain, the two biggests spenders in the presidential contest so far.

Clinton reported operating expenses of $5 million and a debt of $1.6 million. Obama spent $6.6 million and had $190,000 in debts. The low spending rate for both is all the more remarkable given the large amounts of money they raised.

The figures are early barometers of a candidate's fundraising base and organizational strength. So far candidates are on a record setting pace that is shattering past thresholds for fundraising and spending.

Most leading candidates from both parties plan to bypass the primary public financing system, placing a greater premium on early fundraising. For the first time since changes in campaign finance law in the 1970s, many candidates are considering bypassing public money in the general election and are raising money for that cycle as well.

On that front, Clinton leads the way, raising $6.9 million, a sum that must be kept separate and can't be touched unless she wins her party's nomination. Obama and Edwards both raised $1 million for the general election.

Clinton's money in the bank for the primary tops all candidates who have already reported to the FEC. The amount is more than twice the bank balances reported by Romney and Rudy Giuliani, who led the Republican field in cash on hand.