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ON THE TRAIL

July 21, 2008

Barack Obama cut back on his spending in June after securing the Democratic presidential nomination, building up his cash on hand as Republican rival John McCain outspent him with a heavy dose of television advertising. Unlike McCain, who spent more than he raised in June, Obama accumulated cash during the month, holding back on a ramped-up television campaign until July. Obama is now matching McCain's and the GOP's spending on advertising. McCain reported his June fundraising in a monthly report filed Friday with the Federal Election Commission. Obama had until midnight yesterday to file his report.

Mitt Romney - increasingly visible on the campaign trail on behalf of the man who beat him out for the Republican presidential nomination - is about to forgive the $45 million he loaned himself for the primary struggles. The filing of papers with the Federal Election Commission to redeclare Romney's loans as contributions is imminent, according to The Boston Globe. That would clear legal decks for the former Massachusetts governor to become a candidate as, oh, say, vice president. Romney, whose personal fortune is estimated north of $190 million, is marshaling his vast national donor network for John McCain's benefit. "I'm appreciative every time I see Mitt on television on my behalf," McCain said earlier this week.

Conservative Christian leader James Dobson has softened his stance against McCain, saying he could reverse his position and endorse the Arizona senator despite serious misgivings. "I never thought I would hear myself saying this," Dobson said in a radio broadcast to air today. "While I am not endorsing Senator John McCain, the possibility is there that I might."