Obama nears $750 million FEC report shows

WASHINGTON, Dec. 5 (UPI) -- U.S. President-elect Barack Obama raised nearly $750 million in his presidential campaign, Federal Election Commission reports show.

The amount exceeds what all of the candidates combined collected in private donations in the 2004 presidential race, The New York Times reported.

Obama, the first major-party nominee to forgo public campaign financing since the system began in the 1970s, spent more than $136 million Oct. 16-Nov. 24, the period covered in the report filed Thursday with the FEC. His Republican opponent, Sen. John McCain of Arizona, who tapped into public financing and was limited to $84 million, spent $26.5 million during that period, his report to the FEC indicated.

Because of differences in the way fundraising numbers are reported, an exact figure isn't available, the Times said. However, FEC filings seem to indicate Obama raised more than $300 million for the general election alone.

Obama reported having nearly $30 million in the bank as of Nov. 24. McCain reported having $4 million left but he also reported $4.9 million in debt, the Times said.

FEC data indicate fundraising efforts of all presidential candidates in 2004 netted less than $650 million, not including public campaign funds, the Times reported.