The Barack Obama campaign claims to have raised approximately 66 million dollars in the month of August. How?
He reached the $66 million mark with help from more than a half million new donors.
These are unofficial numbers, of course.
More details about the campaigns’ finance are expected later this week, when their monthly financial reports are due at the Federal Election Commission
So, the numbers aren’t due out until next week, but Camp O felt the need to release the $66 mil from half a mil small donors now. Why? It’s still less than he needs.
Obama’s fundraisers have estimated that he still has to do better in September and October, than the August haul of $66 million, to remain on par with McCain and the Republican National Committee. The RNC has more money to spend on McCain’s behalf than the Democratic Party has to aid Obama.
Reuter’s says that McCain might actually be in better financial shape given his option to accept public financing and the financial and the fundraising prowess of the Republican Party. Obama, on the other hand, will actually have to work for his money:
Despite his prodigious private fundraising, Obama may not have as much of an advantage as he would when it comes to the amount of money he will have available to spend on advertisements and get-out-the vote efforts.
McCain benefits from money contributed to the coffers of the Republican National Committee, which has been more successful at raising money than the Democratic Party.
The need to raise money privately also means Obama needs to take more time off the trail to headline events with donors. On Tuesday, Obama is attending a glitzy Beverly Hills fundraiser that will include a performance by singer-actress Barbra Streisand, a long-time Democratic activist. That event could be one of the biggest Democratic fundraisers of the election cycle.
The Obama campaign said its cash on hand at the end of August was more than $77 million and that its total number of donors is now 2.5 million.
So, Obama raised $66 million in August, but he only has $77 million on hand now. That means out of the gazillion total he’s raised so far, he’s already spent most of it. There’s also the question, at least in my mind, who are these “small donors?” Where do they come from? How much have they donated? How much of the $66 mil comes from large donors? Unfortunately, the last question is the only one Obama has to answer. The rest of these 2.5 million donors can remain forever anonymous, sending 5, 10, 20 dollar donations forever and we’ll never know any details about them. I guess, like the caucus system, Barack Obama’s practices highlight the need for campaign finance reform, too.
So, to recap, Obama has spent about, what, 90% of a gazillion dollars (okay, I’m guessing here, but you get my drift) from 2.5 million donors and he’s kinda tied in the polls. I wonder how much it’s going to cost to actually win. And where, oh where, will all those new, unnamed “small donors” come from?
PUMA
Just Say No Deal
