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Sen. Barack Obama reported spending more than $53 million in August and ended the month with $77 million in the bank, according to reports filed over the weekend with the Federal Election Commission. Similarly, said he McCain spent $41 million in August.
In the fund-raising department, McCain reported raising $47 million to Obama’s $65 million.
Advertising accounted for more than half of each campaign’s expenditures. Most of that money was spent in about a dozen states considered crucial to win the presidential contest.
Together, both campaigns spent nearly $94 million in August, a record rate of $3 million a day.
Deborah Creighton Skinner is the editorial director of BlackEnterprise.com.