The national press is rightly impressed with Obama's fundraising, but focusing on that rare apparent advantage obscures the reality that bleeds through lower in the story:
Republican officials point out that, when the RNC totals are combined with the $21 million in cash that McCain held at the end of July, they actually have slightly more money available for the White House contest than do Democrats. (Combined figures show Republicans with $96 million and Democrats with $94.3)So, parity. Forget the Republican underdog story. It's bullshit.
Combine this parity with unmeasured but almost certain Republican advantages in 527s, and the ocean of slime coming from the right will get deeper and deeper before the tide ebbs off the beach and leaves us.
We'll see if there's a strong enough rip current to drown Obama. I hope he's strong enough to swim around it.