To the many warning signs Democrats face in the 2010 midterm elections, add this: New fundraising reports show Republicans outraised Democrats in the third quarter in all eight open Senate races on next fall's ballot.

Reasons for the GOP's success vary in this narrow, but important, category. While it isn't the only indicator of party strength and momentum, fundraising in races without incumbents does offer an unfiltered prism through which to gauge the enthusiasm and organization of each party's base.

And for now, by that measure, the GOP's base is more organized and enthusiastic -- at least, about opening their wallets.

The biggest disparity surfaced in Florida, where Gov. Charlie Crist, perhaps the GOP's biggest Senate recruiting coup in 2010, continued to dominate the money chase, taking in $2.5 million and outraising Rep. Kendrick Meek (D) by more than 3-1. Even more troubling for Democrats: Crist's primary challenger, Marco Rubio (R), raised an additional $1 million of GOP money. (Of course, Rubio's fundraising is also troubling for Crist).

It was déjà vu, of sorts, in Kentucky, where Ron Paul's son Rand posted a surprisingly impressive $1 million haul. That's almost as much as the two top Democratic candidates raised combined. Paul even outraised his GOP rival, Secretary of State Trey Grayson, who enjoys strong support from Senate Minority Leader Mitch McConnell. The younger Paul, a surgeon, took a page out of his father's playbook, conducting Internet fundraising blitzes known as "money bombs."

In Missouri, Rep. Roy Blunt (R) has trailed Secretary of State Robin Carnahan (D) in recent polls, but Blunt led in third-quarter fundraising. In Illinois, Rep. Mark Kirk (R) outraised Treasurer Alexi Giannoulias (D) and has nearly as much cash on hand. Former state Attorney General Kelly Ayotte (R) raised more than Rep. Paul Hodes (D) in New Hampshire, while former Rep. Rob Portman (R) outraised Lt. Gov. Lee Fisher (D) in Ohio. Two Republicans, Reps. Todd Tiahrt and Jerry Moran, raised about $860,000 in the open-seat race in Kansas, where no viable Democratic candidate has surfaced. Rep. Mike Castle (R) is the only announced candidate in Delaware.

The numbers belie what is still, essentially, a defensive crouch for Republicans, who currently hold six of these eight Senate seats. To make actual gains, they'll need to find opportunities elsewhere.

Still, Republicans said the fundraising success suggests their base is back on track. "I think it's a combination of things," said Brian Walsh, a National Republican Senatorial Committee spokesman. "One, we have solid, well-qualified candidates. Two, the mood on the ground is trending in the direction of the Republicans, or against the Democrats.... The grassroots is re-energized, and a number of folks who voted for Obama, lots of them independents, are realizing that this is not what they signed up for."

Democrats appear unfazed. Eric Schultz, a Democratic Senatorial Campaign Committee spokesman, said focusing on fundraising in open-seat Senate races is only one part of the picture. "Our donors are energized every time they see Republicans wipe their hands clean of responsibility for turning the economy around and reforming health care," he said.

Nationally, Schultz said, the DSCC outraised NRSC by almost $3 million in September and significantly increased its cash-on-hand edge, from $3.6 million to $5.1 million. The DSCC now has twice as much money in the bank. Schultz also pointed to Democrats' lead in cash-on-hand and year-to-date totals in a slew of competitive races; of the 16 races highlighted in The Hotline's Senate Dashboard, the top Democrat has more cash than the top Republican in 11 of them.

"Clearly the town halls/tea partiers/national buzz didn't translate at all into dollars raised," one Democratic strategist said. "The truth is that the conservative activists are actually doing damage by fueling strong primary challenges to the NRSC recruits."

Indeed, Republicans face some warning signs of their own. In Delaware, Castle, who announced his Senate bid earlier this month, took in just $58,000 between July 1 and Sept. 30, raising questions about his commitment to a costly battle with Vice President Joe Biden's son, Beau. Fundraising was weak for GOP challengers to two potentially vulnerable Democrats, Senate Majority Leader Harry Reid of Nevada and Blanche Lincoln of Arkansas. And Republicans faces potentially divisive primaries in Kentucky, Colorado, Connecticut and Nevada.

But for a party that spent the first half of 2009 in despair, the latest fundraising quarter offers Republicans the audacity of hope.