Democratic presidential hopeful John Kerry outspent President Bush by about $10 million in May and started this month with less than half as much campaign cash left as his GOP rival.
Kerry spent $32 million in May and began June with about $28 million left, a monthly campaign finance report he filed late Sunday with the Federal Election Commission showed.
Bush used up $22 million last month and started June with $63 million on hand, according to his monthly FEC report.
Both candidates have been raising and spending money at a record-breaking pace.
Kerry now holds the Democratic presidential record in both areas, reaching at least $148.5 million raised, including roughly $6 million in loans and just under $121 million spent.
Bush has set an all-time presidential record with at least $218 million raised and $152 million spent.
Kerry has been holding fund-raisers for weeks to rebuild his finances after the Democratic primaries. The Massachusetts senator took in about $31 million last month through events, online donations and mailed contributions.
Bush stopped throwing fund-raisers for himself in April and has started raising money for other Republicans. He collected about $13 million last month through Internet and mailed contributions.
Each is free to raise as much as he can until his party's nominating convention in late summer. Bush and Kerry skipped public financing through the primaries, freeing themselves from the program's spending limits.
Both are expected to accept full government financing for their general-election campaigns. Those will start once they are nominated by their parties — Kerry in late July and Bush in early September.
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