Obama’s high-dollar donations lagging
Source: Washington Post
President Obama is struggling to draw in big-dollar donations, with half as many people writing large checks to his campaign than at this point four years ago.
Obama is outpacing his Republican rivals in fundraising overall, and his advisers have concentrated on amassing small-dollar backers, part of a strategy to get more people invested in the reelection effort. At the end of January, 1.4 million people had donated to the Obama campaign, responding to appeals for contributions as small as $2.
But Obama lags behind Republican front-runner Mitt Romney in finding donors willing to give $2,000 or more a surprising development for a sitting president, and one that could signal more worrisome financial problems heading into the general election. At this point in the last election cycle, Obama had received such large donations from more than 23,000 supporters, more than double the 11,000 who have given him that much this time. President George W. Bush had more than four times the number of big donations at this point in his reelection.
Democrats see a variety of possible explanations for such a dramatic drop in big-dollar contributions. The ailing economy has dampened fundraising overall. Some wealthy liberals and Wall Street executives alike have grown disaffected with the president over time. And the extended Republican primary has shined a spotlight on a field of potential rivals that many Democrats believe Obama will easily beat.
Read more: http://www.washingtonpost.com/politics/obamas-high-dollar-donations-lagging/2012/03/09/gIQApeitKS_singlePage.html
bluestateguy
(44,173 posts)nt
PSPS
(13,598 posts)Perhaps in the rarefied atmosphere of the WP's board room, festooned with millionaires, they may bemoan this lest the ad revenue they count on every election cycle may not meet the needs required to maintain their household staff at its current number.
PuffedMica
(1,061 posts)and watch the advertising revenue pour in.
GoCubsGo
(32,083 posts)If voters think the President will win in a blow-out, some will stay home. So, as idiotic as the article is, it may actually be helpful in the long run.
high density
(13,397 posts)Four years ago he was in a tense primary battle. This year everybody is sitting back and watching the GOP shoot themselves in the foot over and over... I am not sure what Obama needs maximum money for at the moment. The general election season will be long enough as it is without starting it now for no reason.
Also I bet many big money donors have embraced the Citizens United ruling, donating to outside groups that will still be supporting Obama in the GE.
get the red out
(13,466 posts)Mitt's needed those donations to seal his own primary.
Stories like this leave out so much logic.
Historic NY
(37,449 posts)he blew his load before the general and is struggling to find small (cheap) donors.
Response to Historic NY (Reply #13)
Tesha This message was self-deleted by its author.
Historic NY
(37,449 posts)With an unusually large proportion of his donors already giving the maximum contribution allowed by federal law, Mr. Romneys campaign has made repeated appeals to grass-roots donors in recent days, including a thank-you note from Mr. Romney, sent just minutes after he was declared the victor in Ohios primary, asking supporters for $10 contributions.
http://www.nytimes.com/2012/03/08/us/politics/romney-lags-in-gop-grass-roots-fund-raising.html?pagewanted=all.
spooky3
(34,452 posts)They use Dem. fund-raising success to scare their big donors.
I'll bet a lot of prospective donors are simply biding their time until the general campaign begins. Or, they may decide later to fund Senate and House candidates, if they think Obama has the race locked up.
joeglow3
(6,228 posts)You can donate 2,500 BEFORE the convention and another 2,500 after the convention. Thus, if people were waiting, but want to donate, they are cutting the amount they can give in half.
cstanleytech
(26,291 posts)After all they will eventually decide on a candidate and with the pacs now able to spend unlimited money they will be able to bury obama if he doesnt have enough cash on hand to counter the advertising blitz they will probably use against him.
onehandle
(51,122 posts)lacrew
(283 posts)The article says he's raised $255 million, and has $74 million on hand.
I think most of this has been setting up offices in all the states...ands its a good strategy, if you can afford it - he's going to challenge the GOP candidate in every state. That means even some 'safe' states will be in play.
But can he afford it?
I think, if he starts to lag in the polls, he'll make another pilgrimage to Hollywood, and be able to raise more funds.
One thing to note - much of this article seems like it was sourced from a Karl Rove editorial last week (which makes it sound like beltway talk). Rove, btw, is sitting on a Super-Pac, with $20 million, and a goal to raise $300 million. He will be a force in this election. I presume all VP picks will have to go through Karl.
brooklynite
(94,571 posts)My wife and I are double maxed out. It would be nice if we could have used that money for Congressional races, but we're not going to unilaterally disarm.
judesedit
(4,438 posts)elementary, my dears.
judesedit
(4,438 posts)Thank you.
SadPanda
(176 posts)Not buying the beltway bullshit.
66 dmhlt
(1,941 posts)CountAllVotes
(20,870 posts)Sorry about that. No money left for you being the interest rates are at zero. Nothing left to "donate".
AngryAmish
(25,704 posts)I'm sick of this shit.
CountAllVotes
(20,870 posts)Time to close my pocket book up so to speak.
Donated over $300.00 last time around and it wasn't exactly some spare change I had lying around either.
Enough is enough!!
Tarheel_Dem
(31,234 posts)You do understand that Congress doesn't want it closed right? And I suspect that the USSC would come down on their side. So what's he to do?
mia
(8,360 posts)Bucks will be pouring in once the Republicans have picked their chump.
pres211982
(1 post)unkachuck
(6,295 posts)....I don't understand these wall-street ingrates, corporate schmucks, greedy crony-capitalists and other forms of minimum human beings....they need to realize they have a friend in Obama....
....who else but a friend would let them steal our money, gamble it away and make us pick up their losses....a very dear friend indeed....
alferoutou
(25 posts)Obama
Romney
Gingrich
Santorum
Paul
All are competing for the same money from the same people Republicans.
It is Obamas fault because he is just not into liberal and progressive issues unless his poll numbers go down then he throws the liberal/progressive base a bone to get the numbers back up.
Sure Obama will get my vote but it is not like we have a real choice this election 4 crazy pubs and 1 moderate pub to choose from. Some choice.