And as we all know, if you got the money, you got the election.
The DNC filed its repot last night, indicating that it had raised $6.5 million for March and 20.6 million for the quarter, about $3 million more than the RNC's total. And that was before Obama himself kicked into re-election fundraising gear, as he has this week.
The Democrats have their own challenges. The small-dollar energy of 2008 hasn't ignited. And some major Democrat donors, too, have been alienated; Obama certainly hasn't offered the kind of donor maintenance that Bill Clinton did, and there have also been fewer (though some) jobs for donors and other supporters. Obama's campaign, for instance, raised more in the first quarter of 2007 than the DNC did this quarter, despite having much lower limits.
Still, the DNC now has about three times the RNC's cash on hand, with $9.7 million, and a bit less debt. And the RNC has probably gotten the breathing room it could (and that it genuinely deserved) out of the Steele aftermath.