Calm down about Obama’s fundraising

posted at 3:00 pm on October 16, 2011 by Karl

Team Obama hyped its third-quarter fundraising and the “watchdogs” of the establishment media lapped it right up. The WaPo’s Dan Eggen, in a story headlined “Obama far outpaces his GOP rivals in third-quarter fundraising,” was typical:

The campaign said it raised $43 million from July through September, plus $27 million for the Democratic National Committee, which can accept much larger donations. That brings the campaign’s total to more than $90 million, plus $65 million more for the DNC, since Obama formally began his reelection bid.

The numbers put Obama comfortably ahead of his leading GOP rivals, who together appear unlikely to match his total for the third quarter.

USA Today’s readers were told that Obama is “racing ahead of his Republican rivals.” The Hill reported that “Obama’s campaign continues to dwarf the challengers.” NPR claimed “the president appears to have raised more than all the Republicans combined.” At the New York Times, Michael D. Shear and Nicholas Confessore wrote that Obama is “once again outpacing his Republican rivals despite the country’s economic woes and his low poll numbers.”

Are these so-called watchdogs really that bad at math? In another WaPo piece claiming “Obama dwarfed his GOP competition,” T.W. Farnham reports: Rick Perry raised $17 million; Mitt Romney raised $14 million; Ron Paul raised $8.3 million (including a $500,000 transfer from his congressional campaign); Michelle Bachmann raised $4.1 million; and Herman Cain raised $2.8 million (including $175,000 personal loan to his campaign). The Hill reports Jon Huntsman raised $4.5 million (half of which was a personal loan) and Rick Santorum raised $700,000. CNN reports Newt Gingrich raised $800,000.

Those outside the establishment media will recognize that the GOP candidates’ total — excluding personal loans and campaign transfers — is $49,725,000, which is higher than the $43 million raised for the Obama campaign. Obama also raised $27 million for the DNC, but the RNC raised $23.4 million in the third quarter without having a presidential nominee (one might say Obama helped raised that money also). The GOP/RNC haul becomes $73,125,000 — again, higher than the Obama/DNC total.

Moreover, as only some of the media noted, the Bush/Cheney 2004 re-elect campaign raised $50 million in the third quarter of 2003. That’s considerably more than Obama, even before adjusting for inflation. On Twitter, GOP fundraiser/consultant Nathan Wurtzel noted that in 2003, the contribution limit was 25% lower and candidates did not raise general election money (taking public funds instead). Nathan added that at this point in 2003 Bush/Cheney had over $70 million in cash on hand, while Obama/Biden now has only $61.4 million cash on hand. As Nathan further noted, the Bush/Cheney $50 million total really did dwarf his DNC rivals who raised ~35.8 million. In short, Obama is going to have more than enough money to get his message out, but so far it appears he will not have the vast fundraising advantage he had in 2008.

The establishment media’s coverage of third-quarter fundraising is the worst sort of spin. It is the sort of self-delusional happytalk losers give themselves on the road to losing elections, much like “People will really like ObamaCare after it is passed,” and “Democrats won’t lose a raft of House midterms because the GOP is soooo unpopular.” Ironically, if the media reported this story more honestly, it might spur more Democrats to donate to Obama… so shhh.

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Obama doesn’t have to spend his. So there’s that.

lorien1973 on October 16, 2011 at 3:03 PM

The lsm doing their jobs?

Perish the thought

cmsinaz on October 16, 2011 at 3:08 PM

With Obama on TV literall every day of the week, it would seem advertising for him is a useless effort.

Regarding Obama running attack after attack, I suspect no-one is going to be listening to them, just getting mad at those kinds of ad’s.

Freddy on October 16, 2011 at 3:11 PM

Liberals aren’t good with numbers.

SlaveDog on October 16, 2011 at 3:13 PM

Not only this, but I was surprised to find out how much money he had gone through already, without once (AFAIK) going over the airwaves with bought media.

The man’s profligacy knows no bounds…

JohnGalt23 on October 16, 2011 at 3:13 PM

It’s kind of funny, it’s all great and wonderful with the old media that Obama has a huge, perceived, edge in fundraising, but when the Republicans have a large fundraising edge, the MSM has no glee at all, it’s a bad thing.

No bias though!

RJL on October 16, 2011 at 3:14 PM

And ,of course, we take their word for this. Dems exaggerate? Nevah!

katy the mean old lady on October 16, 2011 at 3:18 PM

I have said on countless occasions he will not have a billion dollars.
It was a lie meant to scare potential challengers on both sides.

Lanceman on October 16, 2011 at 3:26 PM

What about all the Solyndra money? And all the left over stimulis money? Oh don’t forget all the union money transfers from all those saved jobs. He has lots of money, but by the time Fast and furious and Solyndra among other scandals come to a boil, he won’t have a pinch of credibility.

tim c on October 16, 2011 at 3:26 PM

Liberals aren’t good with numbers.

SlaveDog on October 16, 2011 at 3:13 PM

Tell me about it! Right now, in LIBERAL DEMOCRAT-CONTROLLED Illinois, our state just got the dubious distinction of being the biggest deadbeat state in the nation, owing billions of dollars with debt up the wazoo.

And we all know who is from Illinois now, don’t we?

pilamaye on October 16, 2011 at 3:34 PM

Has bho’s last campaign cash ever totally been accounted for and all the bills paid? Does bho and mo have a ‘stash’ for the two first daughters someplace from the campaign cash? They were listed as ‘staff’ on the africa vacation, if I recall. These two now in the wh are not the most honest two I have ever seen and would not put anything past them?
L

letget on October 16, 2011 at 3:38 PM

Considering is financial skills should we ever worried about how much money Obama has?

StubbleSpark on October 16, 2011 at 3:38 PM

And Obama’s stash all comes from small donations. That’s what they keep telling us.

juliesa on October 16, 2011 at 3:48 PM

Don’t worry. Those billions wasted in stimulus are being cut as contribution checks as I type. Dems will prevail. *sigh*

capejasmine on October 16, 2011 at 3:50 PM

is this the “GOTCHA” that the lefty press was after during the Meet the Press interview today?

Apparently, it is……the LA Times leads the parade.

At two campaign rallies in Tennessee on Saturday night, the Republican presidential candidate Herman Cain said that part of his immigration policy would be to build an electrified fence on the country’s border with Mexico that could kill people trying to enter the country illegally.

But by Sunday morning, in a dramatic change of tone (insert ominous Darth Vader music here), Mr. Cain, a former restaurant executive, said he was only kidding.

“That’s a joke,” Mr. Cain told the journalist David Gregory during an appearance on NBC’s “Meet the Press,” where he was asked about the electrified fence. “That’s not a serious plan. I’ve also said America needs to get a sense of humor.”

Mr. Cain’s attempt to pass off incendiary comments as nothing but a joke may take more effort, however. In making the initial remarks about an electrified fence killing KILL KILL KILL illegal immigrants, Mr. Cain was detailed and repetitive. He did not introduce his thoughts as anything but serious commentary, beginning with the words, “We have a crisis of illegal immigration.”

And the crowds responded with cheers, not laughs (Evil Immigrant killing, death laughing TEA PARTY TYPES).

With the press like the LAT Obama doesn’t need a billion dollars for re-elect he’s already got the press doing all his work for him (or in this case….trying).

PappyD61 on October 16, 2011 at 3:54 PM

I don’t understand why anyone with half a brain and money would donate 1 cent to this weasel who brings nothing but class envy/warfare to any talk. If one of these idiots in the protest hurts someone we can lay it at the feet of obama. What is wrong with wall street? Obama shouldn’t get anything from them.

Bambi on October 16, 2011 at 3:58 PM

Obama:I ran for President for the same reason many people came to this country in the first place: Because I believe America should be a place where you can always make it if you try;

In other words, I ran for president, not because I thought I was worthy and going to be beneficial to the nation, but just simply to prove that I could. Take that America!

astonerii on October 16, 2011 at 4:10 PM

The fundamental premise of liberalism is that the mass of people are too stupid to know when they’re being lied to. As a result, anybody who can get something into print or on TV is perfectly free to assert whatever fantasy they find convenient at the moment without the slightest concern for any ethical or practical constraint.
“Stop being so obstinate and difficult children, this is for your own good!”
Until some serious consequences come down on these fools, there will never be an end to the lies and distortions.

Lew on October 16, 2011 at 4:47 PM

I thought Obozo represented the “Party of The Poor” or something?

Seems like a lot of $$$$ for poor people to come up with in a down economy – for a $400k/yr job…….

KMC1 on October 16, 2011 at 4:53 PM

interesting.
==============

Obama, first lady, VP combine

for 45 fundraisers since official campaign launch
Updated: 11:11 am, July 16, 2011
================================

http://www.iwatchnews.org/2011/07/05/5097/obama-first-lady-vp-combine-45-fundraisers-official-campaign-launch

canopfor on October 16, 2011 at 5:16 PM

oops,and,.. was solyndra stimulus money a kick-back scheme to
hopey’s war chest.
=================

Obama campaign reports more than 350 big bundlers, including Solyndra figures
5:29 pm, October 14, 2011 Updated: 9:43 am, October 15, 2011
=============================================================

More than 350 big money bundlers have contributed at least $55 million so far this year to President Obama’s re-election efforts, according to an iWatch News analysis of the campaign’s Friday disclosure. And more than 40 bundlers each roped in at least $500,000.

Among the 358 big bundlers are two men prominently tied to the ongoing Solyndra controversy.

Included in those totals are 114 new bundlers who had not been reported as bundlers in the first half of the year, almost a 50 percent increase from just three months ago. Another 80 bundlers disclosed last summer have notably increased their efforts for Obama.

The Solyndra-related bundlers are Steve Westly and Steven Spinner, whose names have figured prominently in communications related to the solar startup, which went bankrupt even after receiving more than half a billion dollars in federal loan guarantees from the Energy Department.

Overall, the campaign and the Democratic National Committee raised more than $70 million this quarter. While less than the $86 million reported by Obama in the second quarter, the total nonetheless dwarfs even the closest Republican challenger. Texan Gov. Rick Perry announced his campaign had raised $17 million during this period, while former Massachusetts Gov. Mitt Romney had over $14 million for the quarter.

In particular, the Obama campaign has struggled to win support from Wall Street, which has been suspicious of his administration’s policies and downright hostile to the Dodd-Frank financial reforms passed last year. A report in September found that 100 Obama donors from Wall Street have switched sides to back Romney. Obama has recruited former New Jersey governor and current CEO of brokerage firm MF Global, Jon Corzine, a $500,000+ bundler in his own right, to try and shore up his New York financial support. Corzine has already held a high-end fundraiser and organized a secret meet-and-greet between finance executives and Obama’s new chief of staff.

In contrast, the elites of Hollywood have maintained their loyalty to the President. Among his $500,000 bundlers are two moguls, DreamWorks animation chief Jeffrey Katzenberg and Miramax co-founder Harvey Weinstein. Ken Solomon, the Tennis Channel CEO, and HBO executive James Costos joined them atop the list, along with Michael Smith, the famed interior decorator. Two California sherpas – Andy Spahn, an associate of Steven Spielberg, and Noah Mamet –

who serve as go-betweens for the talent and the politicians, were also on the list, as was John Emerson, an investment manager and longtime party fundraiser.

Among other notable bundlers:

Christine Forester, a top bundler from 2008 and vice chair of Obama’s national finance committee in 2008, was appointed to the President’s Committee on the Arts and the Humanities in 2009. A native of Switzerland, she heads Christine Forester Catalyst, a business marketing and branding consulting firm and has bundled at least $500,000 in just this quarter.
more………………….
=============================

http://www.iwatchnews.org/2011/10/14/7127/obama-campaign-reports-more-350-big-bundlers-including-solyndra-figures

canopfor on October 16, 2011 at 5:25 PM

I seem to remember that a lot of President Obama’s contributions in the 2008 elections *were* small, but were of questionable origin.

Has anyone done any further research on this? Did contributions actually come from GA Gaza not GA Georgia? Did contributions come from many prepaid credit cards whose cash was from unknown sources?

Tune in again in 2013 when we find the same questions and still no answers, and the same office bought by the same president.

Dan. on October 16, 2011 at 5:51 PM

Tune in again in 2013 when we find the same questions and still no answers, and the same office bought by the same president.

Dan. on October 16, 2011 at 5:51 PM

Money is not going to buy Obama term #2, but ignorant primary voters most certainly can increase his odds significantly.

astonerii on October 16, 2011 at 6:05 PM

canopfor on October 16, 2011 at 5:25 PM

Do you have any information on if all the money from the last election has been spent and if all the bills have been paid? Can you find out if funds from this election is going to foto’s? You are doing a great job getting information for us. Thanks.
L

letget on October 16, 2011 at 6:26 PM

Does anyone believe the press isn’t going to remain in the tank for the Democrats and Obama? Personally, I believe they’re going to double-down on support for them. I believe it may get to the point where you can’t believe a word they say. Look at the difference between the coverage they gave the tea party and the coverage they’re giving the Occupy?????” groups. The tea party never got fair coverage from the LSM because they were perceived as being against the Obama agenda, which couldn’t be tolerated.

bflat879 on October 16, 2011 at 8:21 PM

Obama did tell us he was going to take his demands to the American people, those that he agrees with anyway or can fool if he doesn’t. Obama and his strong armed partener discovered early on that vacations can be called anything but a vacation if there was at least a pretense of official business.

Obama campaign contributions haul was a bit disapointing. No problem though, he has our tax payer money to spend to make up the difference, or even more since it is working so well. All he had to do was make up a bogus JOBS BILL that Ried would make sure was never voted on until Obama was done using it in his covert campaigning. If you check his schedule, he hardly goes anywhere that he is not giving his speech or has a fundrasier or two scheduled after an often short bit of official business.

If you count in the forced contribution of taxpayer dollars that he is spending, Obama’s rake in is considerably more.

Bundlers and top donors were well rewarded when he began making his appointments after taking office, with no experience requirements and coveted social perks, or free stimulus money and considerations that made contributions little more that a money laundry scheme. This time around they know they will be rewared. Even more so if Obama manages to win and then manages to somehow do a Chavaz on us.

Obama is not exactly hidding the fact that he believes socialism is a superior form of government to capitalism; if socialism just has enough money, unionized and controled workers, and inferstructure to get it started.

Franklyn on October 16, 2011 at 8:22 PM

there is something WRONG in America when a FAILED Marxist can raise $1 billion in campaign funds.

katablog.com on October 16, 2011 at 9:01 PM

Not surprising the left is all over themselves about the amount Barry has raised. They’ve never been good at math. Just look at all the jobs they’ve ‘created or saved’ over the last 2 1/2 years. Even though the total number of unemployed has gone UP since Barry got into the White House.

Yeah, they are really good at math.

GarandFan on October 16, 2011 at 10:50 PM

And again we are told , as we were in 2008, that all the money came from poor people. Well that turned out to be a criminal lie then, and this is likely another.

pat on October 17, 2011 at 2:08 AM

If one of these idiots in the protest hurts someone we can lay it at the feet of obama…

Bambi on October 16, 2011 at 3:58 PM

With the media being what they are — obviously, the Public Relations arm of the DNC — I strongly doubt that if/when someone does harm toward others in the Occupy thing, that the media will ever report it.

If it manages to ever leak out (such news) via the internet, the media will malign the source reporting it.

Lourdes on October 17, 2011 at 7:36 AM

…the elites of Hollywood have maintained their loyalty to the President. Among his $500,000 bundlers are two moguls, DreamWorks animation chief Jeffrey Katzenberg and Miramax co-founder Harvey Weinstein. Ken Solomon, the Tennis Channel CEO, and HBO executive James Costos joined them atop the list, along with Michael Smith, the famed interior decorator. Two California sherpas – Andy Spahn, an associate of Steven Spielberg, and Noah Mamet –

who serve as go-betweens for the talent and the politicians, were also on the list, as was John Emerson, an investment manager and longtime party fundraiser.

And there’s the essence of the nest of fools. That they’re maintaining gungho (hefty financial and media) support of Obama is an indication of one or both of these two things: nefariousness or incompetence as citizens of this nation.

These people and others of their association are primary motivators of Leftmedia, and intimidate anyone who writes outside the misguided DNC box.

Lourdes on October 17, 2011 at 7:45 AM

Well, actually he could have a billion once all of the “green” money re-cirulates back to him from Solyndra, etc. What’s even worse is that it is our money.

BetseyRoss on October 17, 2011 at 9:02 AM

Yeah, they are really good at math.

GarandFan on October 16, 2011 at 10:50 PM

It’s “jobs supported” now, GarandFan. Even more nebulous than “saved or created”.

Extrafishy on October 17, 2011 at 10:11 AM

Does anyone recall that Obowmao had many “small” donations in 2008 that came from anonymouse online donors with names like “Mickey Mouse” “Donald Duck” and “ASDFGJKLL” when the donators became tired of completing the entry forms?

Many of those “donations” were supplied by George Soros in the form of VISA gift cards, and Teh Won’s campaign never disclosed the names of the donors.
http://www.newsmax.com/Politics/Obama-fundraising-illegal/2008/09/29/id/325630

Yet another example of what a sniveling, cowardous, traitorous piece of dogshiite that currently occupies the WH.

connectthedots on October 17, 2011 at 3:59 PM