Democratic co-frontrunners Senator Hillary Clinton of New York and Senator Barack Obama of Illinois have made an agreement with the Democratic National Committee (DNC). Under this agreement between the frontrunners and the DNC, the Democratic White House Victory Fund has been created.
Under this fund, both Clinton and Obama will raise funds for the DNC. Currently, the DNC is strapped for cash. While Obama and Clinton have raised funds, it went mainly to their campaigns. Under this new agreement, both of them will also raise funds for the DNC. With the DNC to be funded afterwards, it should help deal with the expenses of both the primary contests and the general election.
Presumed GOP nominee Senator John McCain of Arizona already created a similar fund for the Victory Fund. But, there is a different between the RNC Victory Fund and the Democratic White House Victory Fund.
In the case of the RNC Victory Fund, the RNC gets the funds after a nominee is chosen.
In the case of the Democratic White House Victory Fund, the DNC gets funding while the hopefuls are still campaigning. Both Obama and Clinton have agreed to raise funds together for the DNC.
DNC Chairman Howard Dean said that this is a sign that Clinton and Obama are both committed to the unification of the Democratic Party to ensure that they win the White House.
Still, Clinton and Obama are fighting it out for the Democratic nomination. Recently, Obama received the endorsement from John Edwards, the two-time former Democratic presidential hopeful and former North Carolina Senator. In 2004, Edwards became the VP running mate of 2004 Democratic nominee Senator John Kerry of Massachusetts.