Obama Sees Steep Dropoff in Cash From Major Donors

[alp227]

Source: NY Times

President Obama’s re-election campaign is straining to raise the huge sums it is counting on to run against Mitt Romney, with sharp dropoffs in donations from nearly every major industry forcing it to rely more than ever on small contributions and a relative handful of major donors.

From Wall Street to Hollywood, from doctors and lawyers, the traditional big sources of campaign cash are not delivering for the Obama campaign as they did four years ago. The falloff has left his fund-raising totals running behind where they were at the same point in 2008 — though well ahead of Mr. Romney’s — and has induced growing concern among aides and supporters as they confront the prospect that Republicans and their “super PAC” allies will hold a substantial advantage this fall.

With big checks no longer flowing as quickly into his campaign, Mr. Obama is leaning harder on his grass-roots supporters, whose small contributions make up well over half of the money he raised through the end of March, according to reports filed Friday with the Federal Election Commission. And Mr. Obama is asking far more of those large donors still giving, exploiting his joint fund-raising arrangement with the Democratic National Committee to collect five-figure checks from individuals who have already given the maximum $5,000 contribution to his re-election campaign.

“They clearly are feeling the pressure,” said one major Obama fund-raiser, who asked for anonymity to characterize his conversations with campaign officials. “They’re behind where they expected to be. You have to factor in $500 million-plus in Republican super PAC money.”

Read more: http://www.nytimes.com/2012/04/21/us/politics/obama-campaign-faces-dropoff-in-big-donations.html

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The top comment under "reader picks":

interesting that this time around, 58% of the money is coming from you and me, whereas in the supposedly much more exciting 2008, the number was 38%. Maybe this is just the result of the smaller pie, but its nice to know that the under $200 crowd is more reliable than the big donors. We don't buy influence, we just back our guy and hope he can keep the forces of darkness at bay.

[goclark]

1. Just send my $$$'s

[Tx4obama]

2. Obama Fundraising Yields 10-To-1 Cash Advantage Over Romney

Obama Fundraising Yields 10-To-1 Cash Advantage Over Romney

WASHINGTON -- President Barack Obama's reelection campaign is sitting on a major cash-on-hand advantage over his likely opponent, Mitt Romney. The president raised $35 million in the month of March alone, while spending $15.6 million during that same time period.

The rate of donations to expenditures left the president's team with $104,096,193.91 cash on hand -- a huge total, especially when compared to the Romney campaign's $10.1 million.

In addition to the money raised by the Obama campaign, the Democratic National Committee raised $18 million during the month of March (giving the allied forces a combined total of $53 million). Romney, to this point, has been unable to take advantage of any joint fundraising operations with the RNC. With the Republican primary now all but formally concluded, the expectation is that his numbers -- both number of donors and their dollar amounts -- will rise dramatically. Earlier this week, in fact, the Romney campaign projected that it would raise roughly $800 million for the fall campaign.

Obama, it appears, is being helped by recruiting more big-money donors to the fold. The campaign listed 117 bundlers who raised over $500,000 during March, as well as 141 bundlers who helped raise between $200,000 and $500,000 during that same month.

<SNIP>

Full article here: http://www.huffingtonpost.com/2012/04/20/obama-fundraising-romney-cash-advantage_n_1441692.html

[tblue]

7. It's not an election. It's a SALE!

I'm glad he's doing well vis a vis Romney, however that is an INSANE amount of $$$$!!!!

Our election campaigns are totally out of control. It's obscene the way we prioritize.

[TheWraith]

25. A "sale" to under $200 donors?

That's where 58% of Obama's money comes from.

[bluestateguy]

3. Why must we be bothered with these hand wringing Oh Noes posts?

And the poll pimps too, that rush to the computer screen to post the latest fake poll we must all get all nervous about.

[Drunken Irishman]

4. Oh look! More concern from the MSM...

Forget that he's not THAT far off his 2008 pace. Forget that, four years ago, he was embroiled in a very hotly contested primary battle. Forget that, at the moment, he holds a significant 10-1 advantage over Romney without even really hitting the meat of the campaign - no, none of that matters!

Give me a fucking break. Obama will be just fine.

[appleannie1]

5. We donated and plan to send more. Living on SS, it won't be much but all we have.

[davidthegnome]

6. I do not think wealth will determine this election

I suspect either at least a 5% victory for Obama... or fraud of the sort we saw in 2000. The electronic voting machines, as has been proven over and over again, are not that difficult to hack. Romney will have the support of his wealthy friends, many wealthy business men and women and probably the Koch brothers and their ilk, when it's time to really put on the pressure. None of this will be enough to convince the American people he'd be a decent President, but it might be enough to tamper with the voting machines, certain officials...

This time around it will matter more than ever... who is counting the votes?

[lunasun]

35. needs to be landslide vote -voter fraud is harder for a national vote then

[eridani]

8. I was getting severance pay in 2008 but am now on a fixed income

No choice but to give less, but I'll do what I can.

[JaneQPublic]

9. I donate whenever my right-wing coworkers make anti-Obama remarks.

I pay $10 per negative comment.

This week's tally cost me $50 bucks to Obama.

I figure this way is more productive than spending company time arguing with people whose opinions I'll never change.

[Flying Squirrel]

10. Amen to that...

We have no more chance of changing their minds than they have of changing ours. That`s why the future is in the hands of young minds. Thankfully the majority of them have been coming our way.

[davidpdx]

16. With me it's one particular person on Facebook

It doesn't happen often, but when it does it's a knock down drag out fight. I guess I should make it $50 then.

[magical thyme]

11. how much of a cash advantage

over his opponents did Rmoney need for his decisive primary victory again? Wasn't it something like 10:1? I've already forgotten....

[BarryMiami]

12. Why?

None of the responders, nor the story, asks the question: Why are the high rollers not contributing.

Could it be that they view Mr. Obama as not representative of their Democratic values, as not prosecuting
the Democratic Platform, as being more of a centrist than a Democrat? Where are Clean Coal, offshore drilling,
charter schools, nuclear energy, the division of Jerusalem, in the Democratic Platform; they are not. Where
is Mr. Obama's commitment to use renewable energy as the corner stone to rebuild the economy; never happened.

Mr. Obama has done some good things in his tenure but his administration is unapproachable and he has
built wall of cronies. Just underwriting billions of dollars for new nuclear plants is enough to turn off most
committed Democrats; his right hand man is tied to the industry. Need we ask more.

Mr. Obama is trying to be all things to all people. Fine. Let them finance his campaign. When a real
Democrat runs, the real Dems will support him. He used the Dem Party to get elected but kept OFA
in tact for his own use. Why does no one see this?

[JNelson6563]

13. lolz

Yeah, I'm sure big money is staying away because he isn't liberal enough. Of course we know that big monied interests in America are only interested in a liberal agenda. Only REAL Dems are of any interest to them!

My gawd, did you just sign up to post that load of fail? How very sad.

Julie

[xtraxritical]

24. I'm sure the big donors are waiting for the general campaign to heat up.

Right now everything is on hiatus until the Tampa convention makes the nominee official. I've seen no ads from either side yet. I intend to donate when they really need it, I need it too much at the moment. Most importantly - VOTE A STRAIGHT DEMOCRATIC BALLOT!

[peacebird]

15. LOL! Yeah, RIGHT you are... Big money corporate interests are all *so* liberal - NOT!

[yurbud]

17. it sounds like he needs the small supporters even more.

to get that, he needs to stop using GOP obstruction as an excuse and start figuring out how to do an end run around it.

Prosecuting Wall Street economic terrorists and FIRING their tools on his economic team would be good start.

Even lower hanging fruit is firing Arne Duncan and making a clear break with right wing, corporate-driven, education ''reform'' meant to break teachers unions and public schools so the already wealthy can divert taxpayer dollars into their pockets. And in the process of doing so, so exactly why.

[emulatorloo]

31. He's getting tons of support from small donors

That is a fact. I know it is popular at DU to claim the Dem base has abandoned Obama but that is not factual.

Small donors are contributing, there are lots of them, and it is adding up.

What is not happening is liberal millionaires donating to the PACs supporting Obama.

Per Bill Maher, the liberal millionaires erroneously think Obama will just walk away with the election easily. So they don't see a need to donate large. Have seen similar in another New York Times article.

That's why Maher donated a million in such a public way - to try to wake up Hollywood millionaires.

It is not going to be a cakewalk. Koch Bros and Rove Crossroads are going to spend Billions to Swiftboat Obama and all Democratic candidates.

[dotymed]

20. I think most Progressives see this and like you said

the big money Progressives are disgusted. The 99% Progressives are afraid (rightly so) of a Romney victory and keep giving. IMO, if President Obama wants more support, he should declare himself a Progressive and ACT like one. I don't see it happening. He believes he must keep his right-wing corporatists happy for now and after.
Sadly, what is now considered right of center used to be so extreme that no public figure would align themselves with that clique. What is now considered centrist, used to be called what it really is, Neo-Conservative. Our country has been pulled so far to the right by the wealthiest 400 Americans and their sycophants that at the very least, we 90%ers (or whatever number is left after the greed before anyone supporters) should at least return to truth in labeling these "people."

[TheWraith]

26. Keep singing the same old ridiculous song.

Meanwhile, stick your fingers in your ears to avoid hearing about the many victories for our side, and the fact that Obama has a nearly 90% approval rating with liberal Democrats.

[dotymed]

34. hahaha

Who conducted this poll? I am a Progressive Democrat as are many of my friends. That poll sure never made it our way. Actually, I don't know a real, honest Progressive that is not voting with their nose held and fingers crossed....Get Real. In 2008 i canvassed, etc. for President Obama after all of the hypocrisy,profits before people, protecting the wealthy,continuing Bush treacheries...90% approval rating. What is your definition of Progressive? Oh, LIBERAL? does that mean "let them eat cake?"
Actions speak louder than rhetoric.

[MessiahRp]

36. They spout this number often

The numbers are questionable at best. I think in the end most people will look at Romney and the RW crazies and decide to go with Obama but I sure hope nobody forgets his major cave ins and that he just started talking like he was on the same side as liberals (after he and his staff derided them publicly for 3 years) when it came time to start the re-election campaign. In the end I think Obama's legacy is he came in after the worst Presidency of all time and didn't fight hard enough. He did some good things but mostly he did just enough and let the Republicans roll him on a bunch of stuff. When 2016 comes around we're going to have a hard time making the case that Democrats provide such a dramatic difference because we're likely going to be in control for a little while and Washington Dems/Obama don't seem eager to piss off their masters too much... which is why so many Republican concepts remain perpetually on the table regardless of how anti-Democratic and pro-corporate master they tend to be.

[dotymed]

37. +1000 n/t

[progressivebydesign]

28. The big corporate donors don't care about clean coal, etc.

the major donors they're talking about are not the ones that are going to hold back money for nothing having clean coal or charter schools. If anything, they see a big opportunity in the republican wall street darling. Seriously.

He is President Obama, btw.

[MjolnirTime]

33. A dumbass says what?

[JoePhilly]

38. See this article in Sunday's Washington Post? Say's Obama is getting the big donors.

http://www.washingtonpost.com/politics/big-money-donors-find-their-way-to-obamas-reelection-campaign/2012/04/21/gIQAMM0cYT_story.html

[cbrer]

14. Next time he'll think about that

Before he suggests that they jack taxes on fat cats.

[sofa king]

18. He has $100 million and hasn't had to spend it until last week.

Romney in the meantime exhausted his high-dollar donors in February (no way I'm linking to FOX; look up "Romney donors start tapping out" from Feb 22), and his sub $200 donor base is practically nonexistent.

It seems unlikely Romney will draw more money out of those who backed other Republican candidates, seeing as a majority of all humans on Earth--including Republicans--view Romney unfavorably.

That means most of his money will be pooled up in political action-committee sources which he cannot directly control without risking prosecution. The nutjobs will be tossing their own money around, probably in harmful ways.

And I can't help a chuckle as I watch President Obama pull a metaphorical "nobody f---s with the Jesus" maneuver on the GOP, taking their own campaign finance scheme away from them... and pulling the trigger until it goes "click."

[Iliyah]

19. Yea, but it looks

like the American people, y'know the "little" people are supporting Pres O, which the last time I checked "cha ching" are the voting block. Although the corporations are considered as live human beings which is totally absurd represents "one" so therefore, if I were the crazed gop party, I would be worried. Also, Pres O will have enough to compete with Mitten's millionaire and billionaire donors and regardless, I think the ecomony is slowly coming back to life even tho the crazed gop party is doing everything possible to make America fail.

I'm not ready for World War Three either.

[eilen]

21. Cover for not supporting Congressional Democrats-- key passage in article:

"Mr. Messina has also warned the party’s two Congressional campaign committees not to expect their traditional allotments of Democratic National Committee cash this year, money Mr. Obama is husbanding for his own efforts. "


I am not sending a penny to anyone. I have enough problems keeping up with rising gas prices, food prices, college tuition, power rates, school and property taxes and my wages ARE NOT keeping up with inflation.

So one millionaire might go into greater debt than another millionaire. I'm sure Goldman Sachs will lend what is needed.

[Beacool]

32. Isn't that charming?

Screw the Congressional Committee, all money is mine.

I'm not sending money to anyone either.

[Hawkowl]

22. The rich prefer a real Republican

Instead of Mr. Obama's tepid imitation of one. Mr. Obama should review Harry Truman's remarks about fake Republicans. Even money Obama gets his ass kicked in November.

[progressivebydesign]

29. I wish you all the best with a real republican then.

So if President Obama isn't pure enough for some liberals, we should be supporting the real republican? Sorry, but nothing about President Obama feels republican to me. But then again, I equate republicans with absolute disregard for working people, disregard for the middle class, disregard for the plight of those who are uninsured, disregard for the environment, the type of people that cheer guys like Ted Nugent on, the ones that curtail civil rights, send racist jokes to their friends, etc. etc. I guess I don't know what a republican really is, if you're telling me that President Obama is a republican.

[Hawkowl]

39. You are describing 21st century Rethuglicans

I'm talking the DLC corporate Democrats that are a bit to the right of Eisenhower Republicans. I will vote for neither. And good luck to you.

[truthisfreedom]

23. Romney is going to snooze people to death with his boring commercials filled with lies.

No matter how much he spends, he'll never convince anyone of anything. He's character-free. Etch-a-sketch.

[dtom67]

27. You might wanna cover your eyes....

Mitt is gonna raise 800+ million for his campaign . And he will probably win because one of the following must be true:
1. Democrats won't show up
2. The system is corrupt.

[alp227]

30. ??? Washington Post on Sunday: "Big money in a big way for Obama’s reelection campaign"

The Post's "Influence Industry" writer T.W. Farnham writes for the Sunday Post:

President Obama’s reelection campaign has been rapidly increasing the number of big money “bundlers” collecting checks for his reelection, doubling the number of financiers who have brought in at least $500,000.

The influx during the first quarter of the year shows the president is getting an especially warm embrace from Hollywood and the broader entertainment industry, partly making up for a drop in support from Wall Street after Democrats passed broad new regulations for the financial sector, according to a list of fundraisers released by the campaign on Friday.

The Obama campaign has 533 people who have each raised at least $50,000 for his campaign and the Democratic National Committee, including 90 who joined the campaign in the last quarter. The total nearly matches the 558 people who were listed as volunteer fundraisers for the 2008 campaign.

Of this year’s bundlers, 117 are in the top echelon, raising at least $500,000 each, nearly double the number the campaign reported at the end of the 2011 and more than double the 47 who reached that level in 2008.

[RBInMaine]

40. Somewhat early yet. No contested primary. Should pick up some as get closer to the fall.

[nanabugg]

41. Good!! Then he won't owe the fat cats anything in return.. nt