Marc Ambinder estimates that Obama’s $31 million second-quarter haul for primary funds alone is $11 million higher than what Hillary Clinton will report–a staggering amount. This doesn’t surprise me. During the quarter, I attended a number of Obama events for a story I wrote for our July/August issue, and saw up close the type of enthusiasm he generates. For a while now, I have argued that Obama, not Hillary, is the one conservatives should really be afraid of, not only because he can win the election, but because he’d be a more charismatic advocate for liberalism as president. The fact that for two consecutive quarters he has outraised Hillary in primary funds, one of the pillars of her “inevitability,” demonstrates how formidable Obama can be in a “change” electoral environment. Obama still trails Hillary in the polls by double digits, but I think he’s better off being behind at this point, amassing a war chest, and making his move in the early states starting in November, than peaking early as Howard Dean did. With that said, at some point soon, he’s going to have to do somthing to justify the enthusiasm of his supporters. So far, his performances in the debates have been underwhelming.