Obama's one big advantage going into 2012 election: fundraising
President Obama has raised $155 million for both his campaign and for the Democratic National Committee. That's way more than all the Republican candidates have raised, combined.
President Obama faces an uphill battle for reelection, with unemployment projected to remain high at about 9 percent through 2012 and job approval ratings in the tank.Skip to next paragraph
Subscribe Today to the Monitor
But as an incumbent president facing no primary challenger, Mr. Obama enjoys one big advantage: fundraising. So far, he has raised $155 million for both his campaign and for the Democratic National Committee (DNC), which will help his reelection effort. That’s way more than all the Republican candidates have raised, combined.
All that money allows the Obama campaign to start organizing now in the key battleground states, renew contacts with the 2008 voters, and recruit volunteers. The Republicans, meanwhile, are still figuring out who their nominee will be.
RECOMMENDED: Six liabilities for Obama in 2012
Obama’s advantage comes not just in the quantity of money he has raised, but in the opportunity for efficiency. Thus, an early emphasis on high-dollar fundraisers, because each one is a three-fer: In one fell swoop, Obama is pulling in cash for his opponent-free primary season, the general election, and the DNC. If a donor maxes out on all three, that’s $35,800.
“When you’re president, you don’t have time to do two fundraisers a day,” says Anthony Corrado, an expert on campaign finance at Colby College in Waterville, Maine. “[The big fundraisers] allow them to be very efficient with the principals’ time – not just the president, but also the first lady and vice president.”
Another reason to hit the high rollers early: The $30,800 donation limit to the DNC is annual. The Democrats want their big donors to give this year, so they can ask for another $30,800 next year.
For other reasons, small donors are also critical. We don’t see a lot of press releases about the high-dollar events, but plenty of hoopla about how many folks have gone online and sent in even a few bucks.
The Obama campaign home page has a big ticker at the top counting the number of donors. On Monday, the campaign was so excited about reaching its one-millionth donor that press secretary Ben Label sent out a screen shot of the ticker close to 1,000,000 and then another one when it was at exactly 1,000,000.
Last Thursday, in an e-mail to supporters, Obama campaign manager Jim Messina highlighted the number of people who donated in the third quarter of this year – a record 606,027 – before getting to the grand total of money raised, $70 million to the campaign and DNC. Those who donated made 766,000 donations, with 98 percent of them at $250 or less. The average donation was $56.