Edwards Took in $7 Million

Edwards at a fundraiser in June. (AP).

Top advisors to presidential contender John Edwards have now reported the former North Carolina senator raised $7 million over the past three months, and expects to enter the final push to the January primaries with about $20 million in the bank.

Half of that $20 million, though, will be coming from the U.S. Treasury -- matching money Edwards will be entitled to tap because he has agreed to operate his campaign within the federal public financing system. Doing so will subject Edwards to a range of spending restrictions, including limits on how much he can spend campaigning in the critical states of Iowa and New Hampshire.

This afternoon, Edwards's senior adviser Joe Trippi made another spirited defense of the decision to stay within the public system. He said this was not a question of feeling a financial squeeze. It was a matter of principle.

"People are sick and tired of the corroded busted rigged system in Washington," Trippi said.

The bulk of the money Edwards raised during the third quarter came from small donors, according to Trippi. In all, the campaign has received funds from 150,000 total contributors over the course of this year.

--Matthew Mosk