One year and two months later (exactly to the day since she “started the conversation”), the Hillary Clinton campaign is getting the joke

This just in: Katherine Seelye at the New York Times reports on an initiative from an Obama supporter that sounds like Ron Paul on steroids.

Some fans of Senator Barack Obama have set up a new Web site with the goal of raising $1 million in one minute.

The minute starts at 1 p.m. on Monday, the day before the presidential primary, though donors can pre-register through AnObamaMinute.com.

It's always fun when dueling campaign emails arrive in the e.politics inbox only minutes apart, particularly when they're so gently massaging the same issues-of-the-moment. Today's edition: Obama vs. McCain. The weapons: "bitter" vs. "out of touch." The immediate stakes: the contents of thousands of wallets. The long-term stakes: the public perception of each man, and ultimately his electoral fate.

Hillary Clinton's MyPA won't change the way the campaign spends money in Pennyslvania, but it's a neat idea nonetheless.

As fundraising gets more and more transparent, it's important to learn how to read between the lines. As pathbreaking as the Obama campaign has been, they are a step back from the transparency of the Dean bat, which at least gave us real dollar figures in addition to a total number of donors. Neither could beat the transparency gold standard set by Ron Paul, who updated via a real-time XML+Flash element that was scraped for analytics. Moreover, when the Paul campaign bulk uploaded offline contributions, they told people. The Obama "bat" turns out to be an indecipherable mix of real and fake data.

(Correction? See update.)

If you're a Republican (like me), it's time to grab the Rolaids again.

According to publicly available donor data on BarackObama.com, the Obama campaign has already received more than one million individual donations in March. Obama had received 727,972 donations in his record-breaking $55 million February. And we still have a week to go in the month.

Sometime today, I presume, the Obama campaign will reveal its total fundraising haul for the month of February, and everyone will go gaga. Whatever the actual number--$35 million is the low estimate (which would match the Clinton campaign's take), $70 million is Republican consultant and techPresident blogger Patrick Ruffini's plausible prediction (which would be nearly six times John McCain's reported February income)--it's important to put this into more dramatic perspective. He has more individual contributors than the entire large donor pool to federal campaigns and parties in 2000, and nearly as many as in 2004. Already.

According to my initial projections off this crowdsourced spreadsheet of Obama donations I set up after the Wisconsin victory, Obama has already raised at least $45 million for February and is on track to raise $60 million for the month.

The news last week that Obama raised $32 million in January -- $28 million of it online -- is historic.

Why? Because we're getting our first glimpse at the death of offline fundraising. Just 12% of Obama's money came in offline. When we were in the primary season zone, the only way people knew how to give was online.

If he wins, John McCain will have spent roughly $40 million to secure the nomination against two vastly better funded opponents. That is a far cry from the conventional wisdom that it would take $100 million to compete.

How much you raise may not matter that much, but I'm about to argue that how you raise it makes a big difference.