Barack Obama raised $51 million in July, pushing the total he has raised since his presidential quest began to more than $390 million.

His take dipped slightly from the $52 million he raised in June. But he nearly matched the roughly $53 million raised by John McCain and the Republican National Committee combined in July.

Obama's $390 million in contributions (it's actually about $400 million when miscellaneous increases are counted) is significantly more than the nominees raised four years back. President Bush had raised $240 million at this point four years ago, and Sen. John Kerry had received $210 million in donations.

With the $27 million he raised in July, McCain's total now hovers at about $153 million.

Obama is spending heavily on television ads in battleground states and on the the high-priced Olympics. As a result, the Democrat's cash in the bank slipped to $65.8 million at the end of July, from $71.6 million at the end of June.

Obama expects to out-raise McCain in part by seeking more money from his army of now 2 million donors. McCain has 600,000 donors, his campaign says.

McCain, by contrast, is taking an $84-million grant of federal tax money to run his fall campaign. He also can use about $19 million in RNC money. Additionally, the RNC and various state parties can spend unlimited sums in independent campaigns on the nominee's behalf.

Despite Obama's record fundraising pace, McCain is not with his resources, thanks to the Republican National Committee itself. In addition to the $27 million McCain raised in July, the RNC raised $26 million.

McCain and the GOP had slightly more in the bank at the end of July than Obama and the DNC and its various committees, $96 million to $94.3 million.

Then there are the parties ...