David Jackson, USA TODAY

President Obama is edging closer and closer to U.S. history's first billion dollar campaign.

"All told, Obama's campaign and the committees it controls have raised $923 million," reports National Journal.

"If they raise just half as much in October as they did in September," it added, "Obama's campaign will indeed become the first billion-dollar campaign in history."

As it stands now, it doesn't look like the Republicans will hit the 10-figure mark.

The money is used not only for television and radio ads, but field offices and other get-out-the-vote efforts.

National Journal's Reid Wilson notes that Democratic fund raising belies previous statements by Obama and other campaign officials that news stories about a billion dollar campaign were exaggerated.

In a piece entitled "The Obama Who Cried Wolf," Wilson cites an e-mail Obama sent out in August telling supporters, "I will be out-spent this election."

Don't bet on it.

USA TODAY