Obama’s fundraising drying up

posted at 8:55 am on September 9, 2008 by Ed Morrissey

Barack Obama’s reversal on public financing supposedly freed him to enjoy the riches of his prolific fundraising, but it also forced him to maintain that rate throughout the campaign.  According to the New York Times, Team Obama has gotten very nervous about its finances over the last couple of weeks, and may have fallen far below what they need to conduct the campaign:

After months of record-breaking fund-raising, a new sense of urgency in Senator Barack Obama’s fund-raising team is palpable as the full weight of the campaign’s decision to bypass public financing for the general election is suddenly upon it.

Pushing a fund-raiser later this month, a finance staff member sent a sharply worded note last week to Illinois members of its national finance committee, calling their recent efforts “extremely anemic.” …

The signs of concern have become evident in recent weeks as early fund-raising totals have suggested that Mr. Obama’s decision to bypass public financing may not necessarily afford him the commanding financing advantage over Senator John McCain that many had originally predicted.

How bad could it be?  According to one source, a California fundraiser, the DNC only raised $17 million, a drop-off of six million dollars from July — in a month where the party held its convention.  The Obama campaign reported a $10 million payday last Thursday, after Sarah Palin’s speech, but apparently that didn’t make the Obama campaign comfortable with their position.  In comparison, the McCain campaign raised $47 million and the RNC $22 million in August, their best combined performance by far in the campaign.

David Plouffe tried to spin it as best he could.  He claims that a majority of Obama donors have not yet contributed to the general election, and that they expect between $70-80 million over the next two months.  Unfortunately, by declining public financing (and reneging on his campaign pledge), Obama turned down $84 million, which he could have received without spending money on fundraising.  It’s difficult to see how this decision benefited Obama, if the entire upside now is that Obama will raise slightly less for himself while the DNC continues underperforming against the RNC.

Obama has to announce his August numbers next week, and they’d better be spectacular to offset both his costs and the sudden McCain fundraising juggernaut.  One imagines that if they were that good, we’d have seen the numbers by now, but they’ve sandbagged earlier this summer, too.  They need at least another $52 million just to keep pace on the top line, and given their burn rate, they may need somewhere around $80 million in order to have as much cash on hand as the Republicans.


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I just posted this on another thread. This one fits better.

The signs of concern have become evident in recent weeks as early fund-raising totals have suggested that Obama’s decision to bypass public financing may not necessarily afford him the commanding financing advantage over Senator John McCain that many had originally predicted.

A sign that major donors don’t like backing losers…or a sign that Obama doesn’t understand “economics” like he says…or Palin is picking his pocket…

right2bright on September 9, 2008 at 8:56 AM

After months of record-breaking fund-raising,

and after months of record-breaking fund-spending …

what is it about liberals in general and Democrats in particular, that when they see a pile of money, they have to rush out and spend it.

MarkTheGreat on September 9, 2008 at 8:57 AM

I have a better headline:

Obama’s Fundraising Goes “Plouffe”

BigD on September 9, 2008 at 8:57 AM

Somewhere a village is missing its organizer.

moxie_neanderthal on September 9, 2008 at 8:58 AM

Mr. Soros, please call your office.

fossten on September 9, 2008 at 8:58 AM

a finance staff member sent a sharply worded note last week to Illinois members of its national finance committee, calling their recent efforts “extremely anemic.”

and the infighting and back-biting begins.

MarkTheGreat on September 9, 2008 at 8:58 AM

Typical tax and spend liberal. Takes money from donors, wastes it on stryofoam pillars and trips to Europe and then comes back and asks for more.

ctmom on September 9, 2008 at 8:58 AM

Can’t he just write himself a few earmarks? There have to be a few laying around somewhere.

Metro on September 9, 2008 at 8:59 AM

ROFL. I love it. Not taking public funding coming back to bite him in the ass.

That’s what happens when you don’t stick to your “principles”…lol. I make myself laugh. Obama has no principles.

bloghooligan on September 9, 2008 at 8:59 AM

Maybe Barry can put O-Force One on ebay.

moxie_neanderthal on September 9, 2008 at 8:59 AM

I think Obama will have plenty of cash on hand for the election. He’s going to have to stop trying to win states like Montana and N. Carolina, but he’ll have plenty to attack the battlegrounds. I imagine his 527s will be out in full force given his dropping poll numbers too.

BadgerHawk on September 9, 2008 at 8:59 AM

Will flip-flop for food.

Great line, Ed.

Loxodonta on September 9, 2008 at 8:59 AM

Running for President sure is expensive.

SoulGlo on September 9, 2008 at 8:59 AM

It makes no sense to bribe the Junior Senator from Illinois. These people want to bribe the Next President of the United States.

Now that Obama has the stink of a loser, fundraising is going to dry up. Donors want something for their money, and Obama, as a loser, is going to have nothing to give.

gridlock2 on September 9, 2008 at 9:00 AM

Obama’s Fundraising Goes “Plouffe”

BigD on September 9, 2008 at 8:57 AM

That’s great. I hope Ed sees that and keeps it on file.

BadgerHawk on September 9, 2008 at 9:00 AM

Na na na boo boo.

Akzed on September 9, 2008 at 9:01 AM

Major donors?

I thought he was flip flopping on public funds because he was getting money from so many little donors.

Why is he seeking money from the rich?

DVPTexFla on September 9, 2008 at 9:01 AM

I am certain the Hollyweird/Riyadh connection will come through and the dead will donate money as well as vote this campaign.

sven10077 on September 9, 2008 at 9:02 AM

Much of the extra money Obama pulled in earlier this year came at the expense of the DNC and downticket races.

Since Obama is not getting matching funds, he will have to spend more time fund raising and not campaigning through the rest of the campaign.

There’s an economic term, diminishing rate of return. As Obama gets further into the campaign, he’s going to have to work harder, and spend more on each new dollar of donation.

The wheels are coming off this bus.

MarkTheGreat on September 9, 2008 at 9:02 AM

This actually opens up a new line of attack for McCain.

Obama is running his campaign just like he will run the gvernment if he is elected – too expensive, wasteful, and inefficient, and will require huge new contributions from taxpayers.

Not The Change We Need.

rockmom on September 9, 2008 at 9:02 AM

and the infighting and back-biting begins continues.

MarkTheGreat on September 9, 2008 at 8:58 AM

I think if we had any idea what’s been going on behind closed doors, we’d be even more energized. We’re having fun, they’re treading water, or worse.

hoosiermama on September 9, 2008 at 9:02 AM

Judgment to lead! foul everything up.

backwoods conservative on September 9, 2008 at 9:02 AM

I’ve got two cents I can kick in

anniekc on September 9, 2008 at 9:02 AM

Maybe Barry can put O-Force One on ebay.

Maybe he can run a fundraiser so he has money to paint an actual flag on the tail, rather than that ridiculous Zero Logo.

I might kick in a couple of bucks for that…

gridlock2 on September 9, 2008 at 9:02 AM

They counted on Hillary donors, but they’re not coming over, in part because Obama didn’t help Hillary retire her debt. Given Obama’s drop in the polls, I doubt many of Hillary’s people will put a big effort into bundling for Obama.

The Obamakids are back in college, and may have lost some of the initial infatuation with Obama. Lots of things to spend money on in the fall semester. They’re also unlikely to identify with a fading candidate. The only time they like underdogs is when there’s a Cinderella team in the AAPT basketball tournaments.

Wethal on September 9, 2008 at 9:02 AM

So these are not the donors they once knew?

hoosiermama on September 9, 2008 at 9:03 AM

I thought he was flip flopping on public funds because he was getting money from so many little donors.
Why is he seeking money from the rich?
DVPTexFla on September 9, 2008 at 9:01 AM

No no, he’s seeking money from tall donors. As opposed to little donors.

Akzed on September 9, 2008 at 9:03 AM

AAPT = NCAA

Sorry. Wrong acronym.

Wethal on September 9, 2008 at 9:03 AM

Somewhere a village is missing its organizer.

moxie_neanderthal on September 9, 2008 at 8:58 AM

heh

right2bright on September 9, 2008 at 9:03 AM

And meanwhile, McCain and Palin do not have to spend a single minute off the campaign trail raising money.

How is Obama going to prep for the debates with all these fundraisers he has to attend every night?

rockmom on September 9, 2008 at 9:04 AM

Maybe his supporters already spent their lunch money…

right2bright on September 9, 2008 at 9:04 AM

Maybe he can run a fundraiser so he has money to paint an actual flag on the tail, rather than that ridiculous Zero Logo.

But that would offend most of the Obama voters.

MarkTheGreat on September 9, 2008 at 9:04 AM

AAPT = NCAA

Sorry. Wrong acronym.

Wethal on September 9, 2008 at 9:03 AM

Yea, I guess I could see how you messed those two up./

BadgerHawk on September 9, 2008 at 9:05 AM

I fail to see why anyone would give any money to either party or candidate. Why not give where it will do some good? There’s the Salvation Army, Humane Society, your church, etc.

It sickens me that our political system has come down to who raises the most money from whichever corporations own them.

Benaiah on September 9, 2008 at 9:05 AM

Since community organizers are just basically shakedown artists, I’d wait to see the actual figures before getting excited.

blue13326 on September 9, 2008 at 9:05 AM

Just another example of The One’s great decision-making ability.

caprian on September 9, 2008 at 9:05 AM

ROFL. I love it. Not taking public funding coming back to bite him in the ass.

bloghooligan on September 9, 2008 at 8:59 AM

Another example of his poor judgment and inability to make sound decisions.

Again exposing his arrogance.

keebs on September 9, 2008 at 9:06 AM

Meh. Soros will just cut him a check to make up the difference, push come to shove.

They’re the party of the entrenched MSM and its poisonous interests, remember. They have money to frickin’ burn.

Kent18 on September 9, 2008 at 9:06 AM

It sickens me that our political system has come down to who raises the most money from whichever corporations own them.

I knew it wouldn’t take long for someone to bring up this idiocy.

MarkTheGreat on September 9, 2008 at 9:06 AM

PS: It’s illegal for corporations to donate to candidates.

MarkTheGreat on September 9, 2008 at 9:07 AM

And meanwhile, McCain and Palin do not have to spend a single minute off the campaign trail raising money.

How is Obama going to prep for the debates with all these fundraisers he has to attend every night?

rockmom on September 9, 2008 at 9:04 AM

Of course, McCain doing a quick pop-in to Chicago for a cool $5M in 5 hours is not out of the question. Chicago????
Awesome.

hoosiermama on September 9, 2008 at 9:07 AM

All is not lost. Obama can set up on a street corner and dance around questions and I’m sure someone will throw him a quarter or two.

TooTall on September 9, 2008 at 9:08 AM

This is turning out to be one of those classic threads:
Obama’s Fundraising Goes “Plouffe”
Somewhere a village is missing its organizer.
Can’t he just write himself a few earmarks?
Mr. Soros, please call your office.
Maybe Barry can put O-Force One on ebay.
So these are not the donors they once knew?
All in less then 10 minutes…

right2bright on September 9, 2008 at 9:08 AM

Hubris strikes the Obama campaign again.

forest on September 9, 2008 at 9:09 AM

We keep hearing about Obama’s great judgment.

His decision to flip-flop and forgo public financing does not impress me.

We keep hearing about his management skills.

His failure to keep a formidable cash reserve, and his incredible burn rate, do not impress me.

He reminds me of a dot-com boomer: flush with cash until the market notices “there is no ‘there’ there.”
__________

RJGatorEsq. on September 9, 2008 at 9:09 AM

Has Obama suspended/halted TV advertising in any battleground states yet? If he’s having money troubles, he’ll have to consolidate, and thus tip his hand on where he expects to lose. Fl? VA? Let’s hope.

JiangxiDad on September 9, 2008 at 9:10 AM

Doesn’t Obama have all of Clinton’s Chinese connections?

John Doe on September 9, 2008 at 9:10 AM

Ed,

“Will Flip Flop For Food”

Comedy gold. You must be hanging out with AP too much.

YellowDawg on September 9, 2008 at 9:10 AM

JiangxiDad on September 9, 2008 at 9:10 AM

I read somewhere that he’s giving up on N. Carolina. I heard the same thing about Montana, but I don’t know if he was ever that serious about that one to begin with. Running against a lifetime NRA members in Montana seems like it would be a waste of resources.

BadgerHawk on September 9, 2008 at 9:11 AM

I say this is a case of karma biting Obama’s butt.

jencab on September 9, 2008 at 9:11 AM

It sickens me that our political system has come down to who raises the most money from whichever corporations own them.

Benaiah on September 9, 2008 at 9:05 AM

There ought to be a law, right?

fossten on September 9, 2008 at 9:11 AM

There’s an economic term, diminishing rate of return. As Obama gets further into the campaign, he’s going to have to work harder, and spend more on each new dollar of donation.

The wheels are coming off this bus.

Obama’s fundraising model was based upon the assumption that this was a coronation, not a race. If he was continuing to lead in the polls, fundraising would not be a problem, as everybody and his brother jumped the line to buy favor with the Next President of the United States. Say what you like about Chicago Politicians, but they do deliver for the people who pay the bribes.

What Obama failed to plan for was that this would be an actual fight, and that he would have an actual opponent that would try to confound him at every turn. He failed to provide for the day when he might be down in the polls, and need to pull himself back up. He did not plan for stormy seas. He planned for smooth sailing all the way.

So now he doesn’t know what to do. He has never run a real campaign. In his runs for Illinois legislature, he had all of his Democrat opponents ejected from the primaries by challenging their positions. After winning the Democrat Primary in Chicago, you can pretty much dispense with the formality of a general election. In his race for the US Senate, he was “fortunate” enough to have his Republican opponent drop out when somebody down a the courthouse released the files from his fabulously salacious but previously confidential divorce proceedings. He won his race for the Democrat nomination by bussing volunteers from one caucus state to another so they could vote for him over and over again. Without that trick, there is no way he could have beaten Hillary Clinton.

Barack Obama doesn’t know how to fight because he has never been in a fight. It is a little late to learn now.

gridlock2 on September 9, 2008 at 9:11 AM

I fail to see why anyone would give any money to either party or candidate. Why not give where it will do some good? There’s the Salvation Army, Humane Society, your church, etc.

It sickens me that our political system has come down to who raises the most money from whichever corporations own them.

Benaiah on September 9, 2008 at 9:05 AM

The money I’ve sent to McCain/Palin buys political speech I agree with and allows me to exert influence on the elected leaders who represent me. This system has evolved from the old days where it was literally smoke filled rooms and back channel deals. Were we to go to a fully taxpayer funded with no accountability system it would lead to an even further seperation of the elites from their electorate.

sven10077 on September 9, 2008 at 9:12 AM

The QVC memorabilia auction begins in 1 hour.

moxie_neanderthal on September 9, 2008 at 9:12 AM

I also credit Rush Limbaugh. Obama had to spend much more money during the primaries thanks to Operation Chaos.

fossten on September 9, 2008 at 9:13 AM

Obama was raising North of $50 million a month. So to keep that pace he needs to raise $100 million between the end of the convention and the election. This is a short 60 day period.

He could have taken $42 million a month or a total of $84 million. And devoted his time to campaigning rather than fundraising. At this point, it does not seem like his decision to walk away from his promise of public financing was a wise one. McCain uses that fact as evidence of his lack on integrity, plus there is no guarantee that Obama could maintain that past pace.

Jim M. on September 9, 2008 at 9:14 AM

Why throw good money after bad? I can imagine many a democrat donor asking that question.

I can also foresee (with all the unpaid Hillary campaign vendors out there) that this fund raising shortfall could put his campaign on COD or CASH IN ADVANCE status.

American Express or whoever issued the campaigns credit cards might want to recall them and issue debit cards instead.

meci on September 9, 2008 at 9:14 AM

what is it about liberals in general and Democrats in particular, that when they see a pile of money, they have to rush out and spend it.

MarkTheGreat on September 9, 2008 at 8:57 AM

Usually it’s because they didn’t earn it, so they don’t appreciate it.

RobertInAustin on September 9, 2008 at 9:15 AM

McCain pulled in $5 million from Chicago this past week. Sweet.

coldwarrior on September 9, 2008 at 9:17 AM

Can Obama get a refund on the Greek Temple ?

Maxx on September 9, 2008 at 9:18 AM

I can hear the Obama spinmeisters already:

“How can you trust McCain to cut wasteful spending when he has financed his entire campaign with taxpayer money?!”

BacaDog on September 9, 2008 at 9:18 AM

About that $10 mil post-Palin speech:

Charlie Gasperini reported that Wall St (who is in the tank for Obama) was so shocked and scared after Palin’s speech that they hit the phones to raise more money fast for Obama.

Then it was reported by the Obama campaign like it was a good thing and a sign that America didn’t like Sarah.

It was deception wrapped in a bluff inside a misdirection.

econavenger on September 9, 2008 at 9:19 AM

I guess 300 advisors cost a lot of money these days. Its okay though, his youthful followers will break their piggy banks.

“Its not the same money I once knew”. – Barak Obama Sept 9, 2008

jbh45 on September 9, 2008 at 9:20 AM

My wife has been getting calls from Obama supporters about attending a fundraiser for Obama in Atlanta. She’s actually a bit miffed about it because they assume that because she’s black she supports Obama automatically. She was told that she’s under no obligation to donate but to please bring either a check or bills $20 or larger. LOL

Queasy on September 9, 2008 at 9:20 AM

Barack Obama doesn’t know how to fight because he has never been in a fight. It is a little late to learn now.

gridlock2 on September 9, 2008 at 9:11 AM

+1

rockmom on September 9, 2008 at 9:20 AM

Ticks me off that these political campaigns are now starting (2) years before the actual election, while costing hundreds of millions. This crap must stop. We’re facing times where our monthly gas costs are approaching or exceeding our house payment, and these politicians are throwing millions away in garbage cans.

I don’t care if I ever see Obama’s face again, or hear his stuck-up elite voice ever again. After (2) years of this guy being shoved down my throat, I’m simply overdosed on the guy. Sarah is new and clean, one of us. It’s no wonder why she is now soaking up the news cycle.

Keemo on September 9, 2008 at 9:21 AM

The problem with Obama’s campaign is that they have been trying to raise funds from those who cling to guns and religion…

…and most of his staff are afraid of guns and church… so that presents a problem.

Mcguyver on September 9, 2008 at 9:23 AM

Maybe O can take a quick Dave Ramsey course.

hoosiermama on September 9, 2008 at 9:23 AM

My wife has been getting calls from Obama supporters about attending a fundraiser for Obama in Atlanta. She’s actually a bit miffed about it because they assume that because she’s black she supports Obama automatically. She was told that she’s under no obligation to donate but to please bring either a check or bills $20 or larger. LOL

Queasy on September 9, 2008 at 9:20 AM

Tell her to take 20 dollars worth of loose quarters.

sven10077 on September 9, 2008 at 9:23 AM

Fox just said the U.N. is pulling for ZERObama. Expect to see this downward trend in fundraising to continue with news like that.

Tony737 on September 9, 2008 at 9:24 AM

All the Democrats are doing is practicing what they preach –

CUT AND RUN!

J.J. Sefton on September 9, 2008 at 9:24 AM

About that $10 mil post-Palin speech:

Charlie Gasperini reported that Wall St (who is in the tank for Obama) was so shocked and scared after Palin’s speech that they hit the phones to raise more money fast for Obama.

Then it was reported by the Obama campaign like it was a good thing and a sign that America didn’t like Sarah.

It was deception wrapped in a bluff inside a misdirection.

econavenger on September 9, 2008 at 9:19 AM

The oress and their campaign have otten so busy astroturfing they are more in danger of snowing themselves than us….
you can see Barry’s fear in his body language.

sven10077 on September 9, 2008 at 9:24 AM

BTW, don’t ya just love that picture?

“Pleeeeeease give money to 0bama! PLEEEEEEEEASE?”

Tony737 on September 9, 2008 at 9:25 AM

BadgerHawk on September 9, 2008 at 9:11 AM

Tks. Let’s hope that these reports coming out in the past two weeks are the true start of the Obama avalanche. It’s been evident at HA for some time but I was waiting for it to break into the mainstream. Guardedly optimistic.

JiangxiDad on September 9, 2008 at 9:26 AM

There must be more heat on those foreign donors. It’s hard work shuffling all that cash around with all those hurricanes going on in the Caribbean.

S on September 9, 2008 at 9:26 AM

I sense another trip to Antigua by Oprah coming up pretty soon.

S on September 9, 2008 at 9:26 AM

Can Obama get a refund on the Greek Temple ?

Maxx on September 9, 2008 at 9:18 AM

Maybe so. Apparently, neither he nor the DNC will be getting a refund on those 12,000 American flags that the DNC discarded.

Shifting gears, given Obama’s Bittergate response to San Francisco donors during the PA primary, I wonder how he’s responding to donors when asked about the surge in the McCain-Palin campaign. Can someone find a way to get a Hillary plant into one of Obama’s upcoming fundraisers? Who knows, maybe Hillary will appear herself, tape him, and leak it to the press! Barack “Nancy Kerrigan” Obama meets Hillary “Tonya Harding” Clinton.

BuckeyeSam on September 9, 2008 at 9:27 AM

If Bambi loses just think how gun shy the Demos will be next time around (not that this will be the primary benefit of him losing).

rockhead on September 9, 2008 at 9:27 AM

An Inconvenient Truth = Obama global cooling

Right_of_Attila on September 9, 2008 at 9:28 AM

This actually opens up a new line of attack for McCain. Obama is running his campaign just like he will run the gvernment if he is elected – too expensive, wasteful, and inefficient, and will require huge new contributions from taxpayers. Not The Change We Need.
rockmom on September 9, 2008 at 9:02 AM

And to add to the fine post from gridlock2 on September 9, 2008 at 9:11 AM, the other angle of attack is that this shows a lack of judgement on Obama’s part. He made the wrong analysis of the situation, and as a result, he took the wrong action. No experience, no judgement. No Obama, no way.

smellthecoffee on September 9, 2008 at 9:28 AM

I’ve got two cents I can kick in

anniekc on September 9, 2008 at 9:02 AM

I can do better than that: recycling tomorrow! Two dozen 25.3 fl. oz bottles!

S on September 9, 2008 at 9:28 AM

Keemo on September 9, 2008 at 9:21 AM

Hey Keemo. In a perfect world yeah, but with the MSM refusing to vet Dem’s, we benefit from this agonizingly long process. Obama would have slipped right in if the campaign was shorter. When the liberal press is largely destroyed, we can shorten campaigns again.

JiangxiDad on September 9, 2008 at 9:28 AM

Maybe so. Apparently, neither he nor the DNC will be getting a refund on those 12,000 American flags that the DNC discarded.

Shifting gears, given Obama’s Bittergate response to San Francisco donors during the PA primary, I wonder how he’s responding to donors when asked about the surge in the McCain-Palin campaign. Can someone find a way to get a Hillary plant into one of Obama’s upcoming fundraisers? Who knows, maybe Hillary will appear herself, tape him, and leak it to the press! Barack “Nancy Kerrigan” Obama meets Hillary “Tonya Harding” Clinton.

BuckeyeSam on September 9, 2008 at 9:27 AM

“I need your uh help now uh more than uh uhm ever uh look at er how…biased the press is um for McCain….”

sven10077 on September 9, 2008 at 9:29 AM

Heh…so much for “Expense-Gate”.

Another Kos Smear Missile explodes on the launching pad.

ManlyRash on September 9, 2008 at 9:29 AM

the worm turns.
obbie in trouble.
joy.

jimmer on September 9, 2008 at 9:30 AM

JiangxiDad on September 9, 2008 at 9:28 AM

Good point!

Keemo on September 9, 2008 at 9:31 AM

JiangxiDad on September 9, 2008 at 9:26 AM

I still think it’s going to be a digfight to the finish. Obama has a massive ground presence, and African American turnout is going to be much higher than normal. Plus, while the media bias is obvious to anyone paying attention, a lot of people don’t pay attention.

We have to keep hammering him, and hope McCain and Palin rock the debates.

BadgerHawk on September 9, 2008 at 9:31 AM

Another Kos Smear Missile explodes on the launching pad.

ManlyRash on September 9, 2008 at 9:29 AM

One of the best mental images I’ve ever had. Good job.

BadgerHawk on September 9, 2008 at 9:32 AM

I think the phrase playing through the Obama camp’s mind right now is: “How exactly did Hillary do this, and do this so well without getting caught?”

Honoris Causa…

Silverblade on September 9, 2008 at 9:32 AM

ManlyRash, the Obamatrons are all just plain old dull and idiotic. For all their alleged Liberal smarts (note Michelle Obama’s snarky “Palin’s not smart” suggestion recently in Holmby Hills, CA — that’s a wealthy neighborhood just west of Beverly Hills), they always come up with these borderline dumb accusations and gossip.

They also never seem to learn from their mistakes. I’m still chuckling at that Obama declaration of war from a few weeks ago, that the Republicans “don’t know what they’re up against.”

S on September 9, 2008 at 9:33 AM

When I was buying my coffee this morning I scanned the front page of the NYT. I was gratified to see that the story of Obama’s fundraising woes was on there (including, above the fold, the photo used in the screencap for this thread), but no mention of Palin’s Freddie Mac/Fannie Mae gaffe. Hey Pinch, Barack wants you on the phone right now!

smellthecoffee on September 9, 2008 at 9:37 AM

As I said on the headlines thread, America is close to a 50-50 nation, and Obama maxed out his hardcore between January and June, while a large part of the Republican base was indifferent or hostile towards McCain until the Palin selection, so he’s still got likely donors out there who can give him there $2,300. Combine that with the Obama campaign carrying over Democrats’ normal tax-and-spend mindset into the general election — in this case, it’s “Donate-and-Spend” — and you have a campaign that wasted a ton of money because they thought the honey pot would never run out.

What Obama needs now is a massive surge in donations from new people, which means he either has to infect a whole bunch of folks with “Palin Derangement Syndrome”, to the point they open their bank accounts to him, or they have to find names who can still contribute up to $2,300 — but not necessarily their own $2,300. That’s where the McCain campaign and Republicans in general should start looking on the Obama donor lists, if names of people who’ve never donated much if anything to Obama or any other Democratic candidate before suddenly start showing up on the lists, in the same way Hillary’s minimum wage/maximum contribution donors from Chinatown in New York led to last year’s investigation and federal indictment for illegal campaign contributions.

jon1979 on September 9, 2008 at 9:42 AM

“This is not the financing scheme I knew”.

Bishop on September 9, 2008 at 9:43 AM

Here’s a point worth saying again.

Defy cultural sterilization that only tolerates Marx.

Just as sexism is over the line, complete PC insulation is over the line.

Total insulation is not healthy, but is the ideal of the elite. Obama provides an example, demanding his records remain sealed from exposure, despising every American who is not his Marxist lackey.

Our culture has been laboratory isolated and experimented upon by Marxist tests so long that we are not even aware of the extent we now stand on grounds that inhibit our better relations one with another. PC is too strong: it rules our lives even though it is false.

This McCain Presidency with VP Palin will RE-DEFINE American etiquette protocol into a much more reasonable and healthy manner for productive and respectable social environment.

That alone is a great reason to vote the RNC ticket.

Obama can insulate himself all he wants in the same oblivion realm where he hides his records. FRAUD!

maverick muse on September 9, 2008 at 9:44 AM

Interesting. Now who was it who was promoting the idea that this campaign was Senator Obama’s great executive, management, experience?

ClintACK on September 9, 2008 at 9:46 AM

But, I thought these hollyweird lefties had bottomless pockets…

ErinF on September 9, 2008 at 9:47 AM

Yep. It’s just as I predicted after looking over the DNC/Obama July numbers. From my blog:

The Massive McCain Money Advantage

It seems McCain isn’t in quite the financial pickle many thought he’d be when Obama went back on his word and decided to decline public financing.

Within the July financial reports we’ve discovered some interesting numbers that show McCain may in fact have the advantage going into the beginning of the official general election season.

As we know, each candidate raises funds for both his primary and general election campaign. McCain is taking the $84 million in public funds for the general election while Obama is raising his own cash so he can use MORE than $84 million. So, obviously if Obama raises more than $84 million, which many imagine to be the case, he will have the advantage.

But this does not take into account the funds raised and spent by the national parties. Both the DNC and RNC are able to spend their money on paid media, GOTV, etc. to support their nominee.

In other words, we have to pretty much combine the money raised by each Party and each candidate to get a good idea of how much money everyone has to spend as we head into the general election season.

Let’s first take a look at the most important number…Cash on Hand (CoH). This is the amount the organization has in their bank account as of July 30, 2008:

RNC
CoH: $68,729,955

DNC
CoH: $4,526,688 (ed. note: Marc Ambinder reported the DNC has $29 million on hand. This is incorrect. After looking at the report it’s clear he confused their CoH from 1/1/08 with their CoH as of 7/30/08.)

Wow.

Now you may respond by thinking the DNC must have outspent the RNC by quite a bit to have that little cash on hand.

Nope.

RNC
Spent 7/1/08 to 7/31/08: $19,449,026.91

DNC
Spent 7/1/08 to 7/31/08: $16,715,863.96

So the RNC is spending more AND has that much cash on hand? Impressive.

Now once McCain receives the official nomination, he won’t have to worry about fundraising anymore for the general election since he is taking public funds. Obama’s fundraising team, on the other hand, has to work through his lists and determine who has not maxed out to him for the general already and try to get them to contribute.

A question I have not seen answered is an important one…. how many of the people that contributed the maximum to Obama for the primary have already done so for the general as well? I would imagine it’s safe to say many who can and do contribute the maximum for the primary are able to contribute the maximum for the general, and if that’s the case then I’d imagine it’s likely they would get writing the general election checks out of the way by now. I can’t even begin to make a guess on what percentage have maxed out completely….but either way Obama and his team are going to have to put forward significant resources of time, energy and funds to make sure donors have maxed out on general election funds.

Now let’s take a look at the most important numbers at this point….total cash on hand for the candidates as they head into general election season.

McCain immediately has available $84 mill(automatic public funds) + $69 mill(RNC CoH) = $153 million

How much COH does Obama have at the end of July, including DNC funds? $66 mill (Obama CoH) + $4.5 mill(DNC CoH) = $70.5 mill

So just to get caught up to McCain’s total funds available as of the Republican convention Obama has to work his butt off to raise $82.5 million. This does not even take into account whatever the RNC will raise over the course of the same time period. He may very well do it and surpass the total McCain/RNC total, but at what cost to his campaign? How much office space, staff, time on the phone and how many fundraisers will Obama’s campaign need to compensate for the shortage?

And during this entire time, McCain and his staff will be focusing all of their time on winning the hearts and minds of American voters.

So much for the cash advantage, eh Barack?

Source of all financial data in this post: http://opensecrets.org

DJ Tablesauce on September 9, 2008 at 9:54 AM

jon1979
+1
Obama criminal donors must be prosecuted. Rezco was only the tip of Obama’s organized crime iceberg. An international crook Obama bundler was in the recent news. If I am correct, Obama chose to refuse public funds precisely so that he could more easily facilitate the defrauding of laws regulating American campaigns. The laws still stand, whether Obama likes it or not.

Obama chose the path providing thick camouflage to make discovery of his criminal finance “too late” while he pursues his Frank Abagnale Jr. “Catch Me If You Can” POTUS campaign venture.

maverick muse on September 9, 2008 at 9:58 AM

The temptation will never be greater in democrat strongholds to commit voter fraud. If the republicans don’t put in a grassroots effort to have an army of trained poll sitters ready to click counters and load data, that’ll be the reason for defeat.

pc on September 9, 2008 at 9:58 AM

Maybe he can try a stint in community organizing… no wait, he already tried that and decided it doesn’t have much influence or provide enough income….

.. at least that was his opinion in 1987, to wit:

“[Obama] wanted to marry and have children, and to have a stable income,” Kellman recalls.

But Obama was also worried about something else.

He told Kellman that he feared community organizing would never allow him “to make major changes in poverty or discrimination.

Mcguyver on September 9, 2008 at 9:59 AM

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