While Barak Obama has raised a huge amount of money, those in charge of hosting his coronation in Denver are considerably short of their target -- some $15 million down on the $40 million in cash they are contractually obligated to raise by June 16.  

The host committee now considers it highly unlikely they will be able to raise the entire $55 million they had committed to  To further complicate matters, the host committee never met it contractual obligation with the Democratic National Convention Committee NCC to establish a $19.5 million line of credit.  Spending cuts are now under consideration.  

The cuts would be made to the many parties the host committee is obligated to throw for the delegations and the news media, and other hospitality functions not tied to production aspects inside the convention hall.  

The article notes that the Republican's host committee in St. Paul, Minnesota has not encountered any problems meeting its fundraising targets.