The $66 Million August Haul - What's Next?

Yes, by now it's old news. Obama raked in $66 million in August. Quite an impressive feat and a new record for a Presidential campaign.

Yet, I suspect that the recent tightening of the race may have actually HELPED Obama, and he will have a substantially larger fundraising month in September than he did in August. The buzz surrounding the Sarah Palin VP announcement and convention speech in St. Paul produced a 24-hour period in which the Obama camp raised $10 million. Yes, the GOP suceeded in firing up its own base, but the selection of the neocon Palin fired up the liberal base as well. As a Politico article pointed out yesterday, a lot of the big liberal donors are now worried as this race become unexpectedly tight. Many supporters figured Obama to run away with the race.

Said one bg-time Hollywood supporter: “People are really scared that McCain is gaining. In my 20 years here, I have never seen folks write checks like this.”

This comes on the heels of a NYT article that was printed last week that stated:

The signs of concern have become evident in recent weeks as early fund-raising totals have suggested that Mr. Obama’s decision to bypass public financing may not necessarily afford him the commanding financing advantage over Senator John McCain that many had originally predicted.

But overconfident supporters may now feel a sense of urgency because the race is so close, and many recent polls have even shown McCain ahead. Trailing in the polls might be just what the doctor ordered for Obama's fundraising division.

Even during the summer months when Obama looked to be coasting to a 5- or 10-point victory, the leadership of the Obama campaign said they were expecting a closely faught battle. Now they've got one. Potentially, it couldn't have come at a better time.

[UPDATE: Proof the McCain did actually invent the BlackBerry]