Republicans traditionally enjoy the benefit of bulging coffers for election campaigns, be they at presidential or state level, giving them a psychological edge over the Democrats. But the boot is on the other foot for the 2008 presidential race, with the Democrats holding a clear edge so far on the money trail. Does this mean a Democrat is heading for the White House?
According to the latest figures, the top three Democrats - Barack Obama, Hillary Clinton and John Edwards - have raised $68.5 (£34.3m) in the past three months, compared with $48.7m for the top three Republicans - Rudolf Giulani, John McCain and Mitt Romney.
The Democratic financial advantage is even more marked over the first six months of the year. Since the start of 2007 the Democrats have raised nearly 50% more than the Republicans - $144.3m compared with $101.7m, which includes money the candidates can use in the primary and in the general election.
Iraq and the lack of grassroots enthusiasm for the current line-up account for the unusual Republican financial disadvantage.
Things are looking particularly bleak for John McCain, the former Republican frontrunner but now a fading second. The former war hero, who has suffered politically because of his support for the Iraq war, has had to sack 80 people from his staff of 120 due to a lack of cash.
Some Republican strategists think more money will head their way once Fred Thompson, the actor turned politician, declares his candidacy, which could happen next week. That might be the case, but for now things are looking rather glum for George Bush's party.
