Obama raises 5 Million from West Coast fundraisers

Jun 2011
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from Reuters:

"(Reuters) - President Barack Obama topped up his re-election war chest with a string of successful West Coast fundraisers that ended Monday and showed soft poll numbers had not dented his ability to raise big money.

Despite tough economic times, supporters shelled out for events from Seattle to San Diego that likely raised upward of $5 million in two days, paying up to the legal limit of $35,800 to hear Obama speak.

"What this election is about is everyone gets a fair share," he told a packed crowd of over 800 at the House of Blues in Los Angeles after a performance by the rapper B.o.B.
Obama's approval rating dropped over the summer as concern mounted the United States was headed into a second recession, but he has still been able to pull in plenty of fundraising dollars.
His campaign team also said it was close to racking up a million donors, recalling his massive grass-roots fundraising push that helped him win the White House in 2008....

...Obama's campaign team said he was on track to have drawn 1 million donors by October, hitting that goal in half the time it took in 2008."


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If the last statement is true then this means that Obama has added roughly another 350,000 to 400,000 donors since the Q2 financial statements were released. He had 552,462 individual donors in Q2. And we are not even into the heat of the election season yet.

It is not just money that wins elections, but money plays a major role in getting there. And the fact that Obama, clearly at a or maybe THE low-point in his presidency, can still fundraise, must be a source of concern for the GOP. Even if the GOP does a pretty respectable job of fundraising in total for Q3 2011, it will not look that way, for the money will be spread over so many candidates. In Q2, Obama brought in 86 million. The GOP in total brought in ca. 41.7 million, less than half of his fundraising total.

I also think that some fundraising totals may convince a couple of GOP candidates to get out of the race. After all, a candidate can't win without money to get where he or she wants to go.

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Here was my posting on the Q2 figures:

So, the quick and easy math first:

2011 Q2 total Haul:

Obama: 86 million (Campaign and DNC)
Of that, only from 552,462 individual donors: 47 million. (2007: Q2: 33 million.)

Obama will not need to spend that money in a primary battle for the nomination.
-------------------

GOP field:
Romney: 18.3 his declared goal was 50 million. (Romney 2007: Q2: 18.4 million)
Bachmann: not yet declared, Daily Beast thinks she will pull between 7-8 million.
Ron Paul: 4.5 million
Tim Pawlenty: 4.2 million
John Hunstman: 4.1 million (2 million self-financed)
Herman Cain: 2.5 million
Newt Gingrich: 2 million (1 million in debt)
Sarah Palin: 1.6 million
Rich Santorum: 1 million

Total: ca 38.2 million, without Bachmann.
With Bachmann, estimated 45 million.


UPDATE 07/22/2011: Bachmann's haul was way under 7-8 million: 3.6 million.

That brings the total GOP haul to about 41.7 million.

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So, what does Jake Tapper write about this the largest quarterly haul for any candidate in the history of the USA?

"Obama Nets 260,000 First-Time Donors, But Where Are the 2.7 Million Others? "

Fact: ca 292,000 returning donors (I am one of them and will be every single month), ca 260,000 new donors.

But Tapper just wants to know why the other 2.7 million didn't just jump in right away.

I thought Tapper was smarter than this. As he already well knows, the donor rolls grow as the campaign continues. We are not even in the hot phase of money raising, and Obama already has 86 million in the bank, with another 15 months of fundraising possibilities.

In spite of his hackish headline, he had to admit the following:

"Obama collected $47 million during April, May and June, gathering contributions from 552,462 individuals -- a record participation rate for this point in a presidential campaign, officials said. The number of donors for the quarter also ecclipsed the campaign's total for 2007."

There's more:

"According to the campaign, 98 percent of all donations in the second quarter came in installments of $250 or less -- the threshold the campaign uses to define “grassroots donors.”

"In the second quarter, the campaign reports 552,000 donors gave 680,000 donations, illustrating that some have already doubled down. More than 13,600 donations were of $251 or more."

So, let's do some math. Let's assume that Obama will only have 3.0 million donors again this year:

552,462 / 2,700,000 = 20.46%.
So, with 15 months to go, Obama already has 20% of his donor base.
260,000 previous donors are already back.
If only 165,000 previous donors jump on each month until Election day, that makes 2,475,000 donors, plus the 552,462, which makes over 3 million donors.

But wait, we forgot new donors. If just 50,000 new donors sign on each month, that makes 750,000 new donors.

Assuming the minimum of participation based on such a start, Obama is easily headed for between 3.5 million and 4 million donors for 2012. Mark my words and mark this thread, I will be updating it EVERY QUARTER until election day.

BTW, here is the link for the FEC fundraising reports. Public domain. Take a look.


 
Last edited:
Jul 2011
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Tennessee
i expect obama to raise more money then the last election.

the money is obama's biggest edge in the election.

big money isn't always republican!!
 
Jan 2011
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east coast
I don't care which which party gets more, but until we get the money out of politics this country is destined to not just fail............but fail quicker then thought possible
I think we need to fail. Rock bottom is the only way to get an addict into rehabilitation. I vote for our complete failure, so the eyes of all in Washington may be opened.
 
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michaelr

Former Staff
Dec 2006
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Living proof that it costs a lot of money for a failure to buy up the presidency.

He is still going to fail.
 
Jan 2007
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I think we need to fail. Rock bottom is the only way to get an addict into rehabilitation. I vote for our complete failure, so the eyes of all in Washington may be opened.
I think the collapse of the financial system was the closest to rock bottom we have seen - if the companies had all been allowed to fail (as they likely should have been at least from an investor standpoint) and the realization that our entire way of life would fall apart (at least temporarily), then maybe we could have worked on our real problems and learned to work together on long term solutions. But alas, the moneyed interests have managed to come out of the crises richer then ever and any restriction on leverage, gambling is somehow viewed as an infringement of the rights of others to put the country into more danger then all the foreign armies put together. They moneyed interests have managed to further divide us and as has been the rule for the last 40 years, the majority of the American population loses again.

Unless there is an amendment to the constitution to get money out of politics, we are effed - no matter which party is in power
 
Jan 2011
12,143
5,214
east coast
I think the collapse of the financial system was the closest to rock bottom we have seen - if the companies had all been allowed to fail (as they likely should have been at least from an investor standpoint) and the realization that our entire way of life would fall apart (at least temporarily), then maybe we could have worked on our real problems and learned to work together on long term solutions. But alas, the moneyed interests have managed to come out of the crises richer then ever and any restriction on leverage, gambling is somehow viewed as an infringement of the rights of others to put the country into more danger then all the foreign armies put together. They moneyed interests have managed to further divide us and as has been the rule for the last 40 years, the majority of the American population loses again.

Unless there is an amendment to the constitution to get money out of politics, we are effed - no matter which party is in power
Agreed