McCain memo: Obama needs $200M to keep up

WASHINGTON, July 11 (UPI) -- Advisers to likely Republican presidential nominee John McCain said in a memo that Democratic rival Barack Obama needs $200 million to keep pace with McCain.

The advisers say that, with help from the Republican National Committee, the McCain campaign has more resources than Sen. Obama, D-Ill., a prolific fundraiser, The Hill reported.

Rick Davis, head of the Arizona senator's campaign, said during a conference call with reporters the campaign and the RNC combined had just under $95 million cash on hand at the end of June, and that they have been outspending Obama in advertising by almost a 3-to-1 margin since April.

"I think Obama probably made a strategic mistake by not matching our buy in June," Davis said.

While acknowledging Obama's extraordinary fundraising skills, Davis said McCain advisers estimate Obama would need to raise between $45 million and $50 million a month until Election Day if he wants to compete with the GOP in TV buys.

Davis said the public funds combined with the estimated $110 million the RNC will have for ground operations and the State Victory Committee's $7 million will give McCain about $212 million to spend after the Republican convention ends in early September.