President Barack Obama's 2012 reelection campaign is off to a high-flying start after announcing a record breaking fundraising haul that dwarfs his predecessor's financial prowess at the same time in his 2004 reelection efforts.

Obama and the Democratic National Committee (DNC) said Wednesday morning that they had raised a combined total of $86 million between April and June of this year, which would have been worth about $75 million in 2004, adjusted for inflation.

During the same cycle of President George W. Bush's reelection campaign in 2004, Bush and the Republican National Committee (RNC) raised $50.1 million, which comes to just shy of $60 million in today's dollars, adjusted for inflation.

In a video announcing the totals, Obama 2012 Campaign Manager Jim Messina hailed their take as a "monumental" achievement, pointing at 552,462 individual donors and an average per-donor contribution of $69. He said the results show the president's commitment to grassroots campaigning.

Comparatively, the whole field of 2012 Republicans raised a combined total of $33 million. Rep. Michele Bachmann (R-MN), one of the top GOP contenders, has not yet shared her totals.

The video below is from the Obama 2012 reelection campaign, published Wednesday, July 13, 2011.