Barack Obama Raises Record $32.5 Million

Democratic presidential candidate Sen. Barack Obama, D-Ill., addresses the National Association of Latino Elected and Appointed Officials conference in Lake Buena Vista, Fla., Saturday, June 30, 2007. (AP Photo/Phelan M. Ebenhack) (Phelan M. Ebenhack - AP)

Sen. Christopher Dodd, D-Conn., on Sunday reported raising $3.25 million in the quarter for his presidential campaign, bringing his total raised this year to $7.3 million. Dodd last quarter also transferred $4.7 million from his Senate campaign account. His campaign said he had $6.5 million cash on hand at the end of the quarter.

The figures that some campaigns released Sunday are estimates. Details of how much the campaigns raised and spent in the latest period will not be available until the candidates file financial reports with the Federal Election Commission by July 15.

While several Democrats revealed their total sums, Republicans were not expected to announce their figures until Monday or later in the week.

For Obama, vaulting ahead of Clinton in the money race is an important achievement. Despite broad public interest in Obama's candidacy, he trails the New York senator and former first lady in national polls. Polls show the contest to be closer in some key early states and Obama is leading in South Carolina.

Obama aides on Sunday downplayed the polls, but the campaign has begun running biographical ads in Iowa to better acquaint voters with the candidate.

"While voters have a distinctly positive feeling about Barack, they don't have a great depth of knowledge about his life and history of leadership in Illinois and Washington," campaign manager David Plouffe wrote Sunday in an e-mail to supporters. "As we educate voters about Barack, we have strong reason to believe that our already impressive support in the early states will solidify and slowly build later in the year."

In announcing their fundraising totals on Sunday, the Obama campaign moved to ensure that his success would dominate the political news cycle as Clinton embarked on a three-day tour of Iowa with her husband, former President Bill Clinton. The campaign trip is the first time the Clintons have campaigned together in the state.

"Hillary has had a couple of good weeks, but there's nothing like killing momentum for Obama to come in with these unbelievably high fundraising numbers," said Jenny Backus, a Democratic consultant who is not aligned in the presidential contests.

At this point in the campaign, fundraising figures can act as an easy measure of candidate strength and create tiers of contenders based on their ability to amass money.

Other financial tallies can be as telling. That includes a campaign's spending rate, the size of the average donations and how much money can be used in the primary races and how much could only be tapped for the general election.

Several leading candidates in both parties have raised money for both the primary and general elections. The total numbers are misleading, however, because general election money cannot be used unless the candidate becomes the nominee. Early in the year, Obama raised more than Clinton in primary dollars.

Clinton aides have said she would raise "in the range" of $27 million in the April-through-June period in both general and primary election dollars.

Only Republican George W. Bush, in each presidential campaign, raised comparable amounts in the second quarter of the year before the general election. The single-quarter record is $35.1 million, by Bush from April through June in 2003. Clinton captured the first quarter Democratic record with $26 million, covering the first three months of this year. Clinton also transferred $10 million from her Senate campaign account in the first quarter.

Among Republicans, former Massachusetts Gov. Mitt Romney's campaign has said he will fall short of the $20.7 million raised in earlier in the year.

Rudy Giuliani was expected to exceed his first quarter total of $16 million. Sen. John McCain, R-Ariz., was struggling to match the $13.8 million he took in during the first quarter.