Both Obama and the Democratic National Committee outraised their Republican counterparts in July.

Obama raised $51 million, as compared to McCain’s $27 million, and the DNC raised 27.7 million, as compared to the RNC’s $26 million, the first time that the DNC has outraised the RNC since 2004.

Happy dance time, though the combined cash on hand is about $94.3 million Obama + DNC vs $96 million McCain + RNC, because the DNC has spent a lot of money on Dean’s 50 state strategy.