Obama plans prime-time TV ad before Nov. 4

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On Friday, the Republican National Committee will start running a TV ad in Indiana and Wisconsin seeking to sow doubts about Obama's political upbringing, linking him to Ayers and other Chicago figures. "The Chicago Way. Shady politics. That's Barack Obama's training," the ad says.

Boosted by an economy in crisis and a saturation of advertising, Obama has built up his margins over McCain in Democratic-leaning battlegrounds such as Pennsylvania and Michigan. He has tilted Republican-leaning states such as Colorado and New Mexico toward his side. And he has created contests in such reliably Republican states as Indiana, Virginia and North Carolina.

By now, McCain's allies had hoped the Arizona senator would have established his dominance in states President Bush won in 2000 and 2004, and would have focused on winning two of the three key Rust Belt states of Pennsylvania, Ohio and Michigan.

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But McCain stopped advertising in Michigan, Obama leads in Pennsylvania and he has the edge in Ohio.

"Money doesn't always mean victory, but it means that you have more options to cover more of the battlefield," Republican strategist Terry Holt said. "We're going to have to win with less."

Less is right. Obama is outspending McCain in practically every one of the 14 states the two camps are contesting. One exception is Iowa, where McCain spent more than Obama even though Obama has been sitting on a comfortable lead in the polls.

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Meanwhile, Obama's ability to spend is restrained only by his ability to raise money.

He is the first major party candidate to decline public financing in the general election, leaving him free to spend as much as he can raise. McCain, on the other hand, is limited to spending only the $84 million in public funds he accepted to cover all his costs in September and October.

The RNC is helping with its own resources. It raised a record $66 million in September. Obama has not disclosed his September finances; he doesn't have to until Oct. 20, when financial reports are due to the Federal Election Commission.

Even with their combined resources, McCain and the RNC trailed Obama in ad spending last week by more than $6 million.

"That is a message imbalance that you just can't overcome," said Evan Tracey, head of TNS/CMAG.