Breaking news: Excellent fund-raising month for the Democrats.

And let me note in passing that there was a thoroughly mixed-up set of reporting on this by our national media (admittedly, not entirely their fault). In fact, I’m only three-quarters convinced that I have everything reasonably straight now; but this should go up.

Here’s what went down. The Obama campaign reports (via Constant Reader CrabCakes) $52 million raised for June; the DNC reports 22.4 million raised for June. Total cash on hand: $92.3 million ($72 million Obama, $20.3 million DNC), a significant jump from last month’s $47 million. Jake Tapper reports that only $2 million of that is allocated to the general, which is good short-term news for the Democrats. All of this puts the Democrats into rough parity with the RNC (who had a total cash-on-hand of 94.5 million at the end of June, or $102 million if you count State Victory Party money).

All of this probably has a lot of Democrats breathing a sigh of relief, here. Probably a lot of muttered swearing from conservatives at the missed opportunity, but then we’ve had a run of good news lately.

Full disclosure: I publicly doubted that the Obama campaign was going to be able to break $50 million. I was wrong: I was particularly wrong with regards to the DNC, which seems to have finally figured out how to get some money together. I hang my head in shame… actually, no, I don’t.

Some analysis after the fold.The major result of all of this is that we’re not going to be able to mock the Obama campaign about its supposed money worries; which is a tragedy, but I for one got to do it for months, so I shouldn’t be all that greedy. The aforementioned people sighing in relief are probably going to follow that with a full-bodied bit of crowing, which they’re equally-probably feeling entitled to; it would no doubt be cruel to remind them that they’re celebrating coming in to almost-even with the GOP, but then, we already have the reputation of being the cruel people, so there you go.

The biggest news is probably the better numbers from the DNC, actually: if they hadn’t done so well this month the title of this article would have been something like “Democrats have mediocre month.” It’s not really unexpected, although too many people didn’t expect it (I admit to being more surprised than I really should have been). The end of the primary campaign – and it’s probably now well and truly over now, more’s the (mild) pity – let the mechanisms finally start up again. Guess this means that the City of Denver gets paid on time, among other things… and, yeah, the Democrats have absolutely no excuse for giving the city any further money worries over the convention, now.

Bottom line: the race just started. The good news for the Democrats is that they are at rough parity to the GOP. The bad news for them is that it took them until July to do it, they have to do something like this every month, and that they have no margin for error.

Should be exciting.

Moe Lane

PS: One last note. Jake Tapper noted this interesting aspect of the Obama campaign’s rhetoric (one that seriously confused early reporting of these numbers):

But, Plouffe cautions supporters, the RNC is far outraising the DNC. “The Obama campaign and the DNC ended June with a combined total of nearly $72 million in the bank,” Plouffe wrote. “It’s a healthy number. But McCain and the RNC together still have a huge cash advantage, and we need your help to close the gap. …The McCain campaign and the Republican National Committee finished June with nearly $100 million in the bank.” (That number is actually $95 million.)

Shortly after sending out that mass email,* however, Obama campaign spokesman Bill Burton emailed reporters to note an error: “The Obama campaign has $72 milllion cash on hand on its own, not combined. The DNC totals will be out shortly. “

Per ABC News’ Political Director David Chalian, the DNC raised $22,481,194 in June and has $20,306,056 cash on hand. Meaning the Obama campaign and DNC have a combined total of nearly $92 million in the bank, not $72 million as previously claimed.

Meaning the “huge cash advantage” of McCain and the RNC that Plouffe referred to in his fundraising solicitation is not so huge after all.

This is legitimately worrisome – and I don’t mean worrisome to the GOP. Either Plouffe lied in the original video, or he somehow didn’t know an elementary detail about the state of the campaign that he should have known on July 3rd at the latest. Neither of the two possible answers should be acceptable to Democrats; fortunately, I suspect that not enough people will care to make it an issue…