Kerry bests Bush in campaign cash stakes

DEMOCRATIC challenger John Kerry raised more campaign cash than US President George W Bush last month and spent more too, but started June with millions less on hand than the incumbent as a summer of campaigning begins.

Mr Kerry spent $32 million in May and opened this month with about $28 million left, a monthly campaign finance report he filed on Sunday with the Federal Election Commission showed. Mr Bush used up $22 million last month and started June with $63 million on hand, according to his latest FEC report.

Both candidates have been raising and spending money at a record pace. Each has poured tens of millions of dollars into ads in battleground states since Mr Kerry emerged from the Democratic primaries.

Mr Kerry has set a new party record with at least $148.5 million raised including roughly $6 million in loans and just under $121 million spent. Mr Bush has set an all-time presidential record with at least $218 million raised and $152 million spent. Mr Kerry has been holding fundraisers 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.

Mr 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 man is free to raise as much as he can until his party's nominating convention in late summer. Mr Bush and Mr 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 Mr Kerry in late July and Mr Bush in September. Independent candidate Ralph Nader has also filed a new campaign finance report with the FEC.

Mr Nader has raised just under $1 million and spent nearly all of it, starting June with about $73,000 in the bank and just under $25,000 in debts, his report showed.