The news out of Springfield was stunning when campaign finance reports were released Monday.

Gov. Rod Blagojevich has $12.2 million in the bank for his re-election campaign. Judy Baar Topkina has only $1.5 million.

The significance is so wide, it will be difficult for the state treasurer to compete on a level playing field with the governor in the final stretch of the campaign.

Topinka had two significant fundraisers since the June 30 deadline, with President Bush and former New York City Mayor Rudy Giuliani coming to Illinois to campaign on her behalf. Those will help, but she will have to rally over Labor Day weekend to close the gap and launch into a more aggressive campaign in September and October. The election is Nov. 7.

Blagojevich raised $6.5 million in the first six months of 2006, a not-so-subtle reminder that he's one of the best in the country at enticing donations. He's nearly as prolific as U.S. Sen. Hillary Rodham Clinton, D-N.Y., who is considering a run for president in 2008. Clinton has $22 million on hand, by far the most of any potential presidential candidate.

The governor spent $10 million between January and June on television advertising. He spent it on winning the March Democratic primary race against Edwin Eisendrath, then set his sights on Topinka, the GOP nominee.

Much of the television advertising since March has been an attempt to drive up Topinka's negative ratings with attack advertising. After seemingly having little impact, a Rasmussen Reports poll showed the governor ahead by 11 points in its most recent survey.

"She's not going to out-raise the governor and outspend him … but she's in a pretty tenuous situation," Kent Redfield, a political science professor at the University of Illinois at Springfield, told The Associated Press. "The picture is not an impossible situation, but it's certainly not where you want to be. You can really fall off the cliff."

Topinka spent $3 million to win a tougher-than-expected primary battle with GOP primary challenger Jim Oberweis, half of it on TV ads. She picked up $100,000 donations from the Illinois Chamber of Commerce and the Illinois Association of Realtors.

Interestingly, Topinka is in better shape than Jim Ryan, who had only $690,000 on hand in June 2002 as he approached the stretch run in his loss to Blagojevich.

"While he may have more money, Rod Blagojevich remains highly unpopular, because he promised to clean up Springfield but instead has offered more-of-the-same in terms of investigations, mismanagement, and skyrocketing state debt," Topinka campaign spokesperson John McGovern said.

Blagojevich's campaign was giddy in pointing out the wide difference Tuesday.

"While Judy Baar Topinka engages in finger pointing and excuse-making, Gov. Blagojevich is providing real leadership to get things done for working families in Illinois," Blagojevich campaign spokesperson Sheila Nix said.

Topinka has a chance to turn the tide, even without money. She has committed to five debates against Blagojevich, and should do more. There's no better playing field for her than standing side by side with the governor, arguing issues on their merits and pointing out her fundamental differences with him.

As for the fundraising difference, the wide disparity will continue until the state adopts public financing of campaigns. Even then, candidates would have to agree to forgo private donations to keep it equitable.

For candidates like Blagojevich who raise money like it's second nature, what's the incentive? The governor's war chest fills his campaign with cash and confidence. That's a tough combination to overcome.