Hillary Erases Obama's Money Lead

The third quarter cash-on-hand numbers were released yesterday and Hillary Clinton has erased Barack Obama's previous lead in money raised and cash on hand. The Politico reported that Clinton and Obama were tied in the money race, while most outlets reported the story as Clinton having more cash on hand than Obama.

Clinton holds nearly $35 million three months before the voting starts, to Obama's $32 million.

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She reported raising $23.7 million for the primary and had operating expenses of $21.3 million. Obama spent a nearly identical amount, but he raised $19.3 million in the quarter. They each reported debts — Clinton owed $2.3 million and Obama owed $1.4 million.

Democrat John Edwards reported $12.4 million in the bank after raising nearly $7.2 million and spending almost $8.3 million during the quarter. New Mexico Gov. Bill Richardson, trying to establish himself among the Democratic leaders, reported $5.8 million in the bank. He raised $5.3 million in the quarter and spent $6.6 million.

Only Clinton raised more money than she spent in the third quarter. The Democratic presidential candidates have $104 million in the bank compared to $36.5 million for the Republican candidates.