Democratic opponents of John McCain are out-raising the presumptive Republican presidential nominee by millions of dollars so far this primary season, but his numbers are a far cry from the doldrums he witnessed just six months ago.

McCain, a champion of campaign finance reform, has just $7.9 million cash on hand compared to $33.1 million for Hillary Clinton and $38.8 million for Barack Obama, according to Federal Election Commission filings through Feb. 29. Additional numbers for the first quarter of 2008 will be out within weeks.

McCain also has $4.3 million in debt, compared to $8.7 million for Clinton and only $625,000 for Obama, according to the latest figures.

Overall, the senator has earned $64 million or one-third of Obama's staggering $193 million so far this election season. Clinton has raised $169 million overall so far.

Some causes for the Arizona senator's low numbers may include his failure to capitalize on the fundraising avenues on the Internet -- Obama and Clinton are both credited with major solicitation drives on the World Wide Web. A demoralized Republican base, which is suspect of McCain's positions on immigration and campaign financing, also has not demonstrated much enthusiasm for the nominee-in-waiting.

But McCain campaign senior adviser Steve Schmidt said the campaign is steady on its feet.

"We are very pleased at where we are in this race. John McCain has been counted out many times by every pundit and so- called political expert. We have no doubt we are on track, we are where we need to be and will raise all the resources we need to to win," Schmidt told FOX News.

Nonetheless, The New York Times reported Monday that while about 125 of President Bush's high-money fundraisers in 2000 and 2004 -- known as Pioneers and Rangers -- have donated to McCain, that's less than a quarter of Bush's total high-money contributors.

Schmidt said more and more donors are signing on to the campaign every day.

"We have seen a lot of enthusiasm, for example, Gov. Romney and his organization going all in. We just have no doubt that we will raise the money we need to win this race," he said, adding that he is "not sure every person (who helped Bush) will (join the effort) but a great many of them will."

According to the Times, the Republican National Committee has begun working in tandem with the McCain campaign in a fundraising drive that will raise money for both the campaign and the national party.

RNC spokesman Alex Conant did not confirm a combined campaign with the McCain camp but said the Victory '08 "effort is something that we do every four years. It's responsible for a lot of the get-out-the-vote efforts. That's what we've always intended on doing."

McCain isn't the only one facing fundraising hurdles. Politico newspaper reports Clinton is facing considerable debt that is now months-old. She owes cash to vendors, including phone-banking and direct mail services, catering companies and even for health insurance premiums for her campaign staff.

Asked if McCain can compete with better-funded Democrats, Schmidt said at some point, it's no longer about how much money is raised.

"We need to raise enough to win," he said.

Click here to read The New York Times story on Bush's bundlers.

Click here to read the Politico newspaper story on Clinton's debts.