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.
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“That support translates directly to what we can do on the ground,” Mr. Messina writes. “In the past three months we’ve grown our organizing staff by 50 percent, and opened up three new field offices every week. Thousands of volunteers and organizers made 3 million phone calls and in-person visits to voters.”Skip to next paragraph
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Donations from the financial services sector present a mixed picture for Obama and the Democrats. The president has raised $15.6 million from employees of that industry, according to an analysis by the Washington Post of data from the Center for Responsive Politics. But some $12 million went to the DNC.
In a head-to-head matchup against leading Republican candidate Mitt Romney, a founder of the private-equity firm Bain Capital, Obama doesn’t fare too well in financial-sector donations. The president has raised just $3.9 million, versus $7.5 million for Romney, the Post reports.
Still, Obama and the DNC have had some success in raising money on Wall Street. One-third of the president’s top 40 fundraisers come from the world of finance, including former New Jersey Gov. Jon Corzine of MF Global, hedge-fund manager Orin Kramer, and UBS executive Robert Wolf, according to the Post.
But the president isn’t exactly advertising the Wall Street support he does have, as he strikes a populist tone in speeches and tells reporters he understands the frustration expressed by the Occupy Wall Street movement.
In the end, Obama’s healthy fundraising numbers – so far, $89 million for his campaign and $66 million for the DNC – don’t tell us much about how he will do on Election Day, Nov. 6, 2012.
“What it shows you is that he retains a loyal base of support,” says Mr. Corrado. “He’s going to amass the sums needed to be financially competitive with whoever the GOP nominee is. But the real question is going to be whether the investment he’s making now in organizing and campaigning is going to be enough to overcome general perceptions about the state of the economy.”
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