Halperin's Take

I suppose it was conceivable that Obama could have raised more than this, but this is plenty in both the expectations game and in terms of building up a real money advantage over the Republicans. Obama doubled what the GOPers have raised. He did it with a small average contribution (meaning there is room to go back to many of his donors for more). And he did it with relatively little threat from the Republicans to inspire his base. Smart Republicans were already aware of the money problem they will face; smart Democrats worry that outside groups raising unlimited sums could make $86 million look like chump change.