Barack Obama's campaign announced Saturday that it raised more than $51 million in July, nearly double the amount John McCain raised during the same period.

The campaign reported that it began August with $65.8 million on hand, and that 65,000 new donors contributed to the Illinois senator's presidential campaign last month.

"The 65,000 new donors to the Obama campaign demonstrate just how strongly the American people are looking to fundamentally change business as usual in Washington," campaign manager David Plouffe said in a statement.

The Democratic National Committee also reported $27.7 million in donations last month, picking up the pace against the better-funded Republican National Committee, which raised $26 million in the same period. The DNC began August with $28.5 million on hand, while the RNC had $75 million on hand. Much of that money has come through fundraisers by President Bush, unpopular nationally but still a potent draw among those who donate to the GOP.

McCain's campaign reported Friday that it raised $27 million in July, the biggest haul of the year for the Arizona senator.

Obama, who pulled in $52 million in June, has consistently out-raised McCain. However, Obama is raising money to last him all the way through the November election since he has declined public financing.

McCain, on the other hand, is raising money to last only through the beginning of September, when he accepts the GOP nomination for president. That's when his $84 million in public financing kicks in, and he must leave his privately raised money behind.

McCain campaign manager Rick Davis said on a conference call with reporters Friday that the campaign will spend “much more than we’re raising” in August so as to drain the account by the time the public financing limitations kick in.

The McCain campaign says it has 600,000 donors, while Obama's lays claim to more than 2 million.

The Associated Press contributed to this report.