Sen. John McCain's campaign today reports an impressive $31.5M cash on hand, having attended more than 30 fundraisers in May for a total of more than $21M. Barack Obama will always raise more than McCain, but between the RNC and McCain's cash on hand balance, the financial disparity between the two men will be negligable. However: it is harder to spend RNC money than to spend McCain campaign money, and even though the McCain campaign will essentially run the RNC, the Obama campaign will be able to raise and spend its money more efficiently. Obama will most likely opt out of the public financing system for the general election; McCain will most likely opt in.
Marc Ambinder is a contributing editor at The Atlantic. He is also a senior contributor at Defense One, a contributing editor at GQ, and a regular contributor at The Week.