US:Barack Obama has raised $32.5 million for his presidential campaign in the past three months, breaking all records for a Democratic candidate and giving him a financial edge over frontrunner Hillary Clinton.
Ms Clinton raised about $27 million during the same period and former senator John Edwards raised about $9 million, enough to keep his place in the top tier of Democratic candidates.
Individual contributors are allowed to give up to $2,300 (€1,700) to each candidate for the primary campaign and a further $2,300 for the general election, which can only be used if the candidate wins his or her party's nomination.
Almost all the funds Mr Obama has raised - $58 million since the start of 2007 - are earmarked for the primary campaign, giving him a further advantage over Mrs Clinton, much of whose cash is only available for the general election.
Mr Obama's money came from more than a quarter of a million donors and the average contribution was just over $200, reflecting his success in winning small donations from internet supporters.
"Together we have built the largest grass-roots campaign in history for this stage of a presidential race," Mr Obama said.
The enthusiasm for Mr Obama's candidacy, which is also reflected in the huge crowds he attracts to campaign events throughout the country, has not translated into poll numbers. Ms Clinton retains a clear lead in national polls and in most early primary states, including New Hampshire, while Mr Obama's support remains stubbornly around 20-25 per cent.
Ms Clinton's superior performance in candidate debates in recent weeks has helped to boost her poll numbers but a new Mason-Dixon poll suggests that 52 per cent of Americans say they would never vote for her under any circumstances. The Clinton campaign has dismissed the survey as a fluke, pointing out that a Newsweek poll this week shows her defeating any Republican candidate in a head-to-head race.
Most Republican candidates have yet to release their second-quarter fundraising figures, an ominous sign in view of the fact that campaigns like to trumpet good news as early as possible. Former Massachusetts governor Mitt Romney and former New York mayor Rudy Giuliani are expected to come out on top, although neither is likely to come close to the totals raised by Mr Obama and Ms Clinton.
Arizona senator John McCain announced yesterday that he raised just over $11 million during the past three months and has only $2 million cash in hand to run his faltering campaign. Mr McCain, whose standing among Republican activists has been damaged by his support for the immigration reform Bill that collapsed last week, said he was reorganising his campaign, cutting 50 staff and imposing pay cuts on many of those who will remain.