Yesterday I noted that the latest fundraising numbers for Barack Obama came to $45 million, but that combined his fundraising with that of the DNC.   Politico breaks it down further to find that the actual total money raised for Obama by three different committees in February comes to $39.4 million — far off of the pace of his 2008 fundraising:

Barack Obama is spending heavily to bring in money and relying more on big donors than he did in 2008, but his fundraising pace has slipped from his first presidential campaign, reports filed with the Federal Election Commission Tuesday show.

Three Obama campaign committees, including two that have higher donor limits, brought in a combined $39.4 million last month.

Compare that to February 2008, when Obama had one campaign committee, which was limited to smaller donations, but still raised $55 million.

That is a 28% drop in fundraising, even as Obama has set new records for fundraising events.  He had almost doubled the number of fundraisers Bush held in the 2004 campaign at this stage of his presidency, even before his six-event frenzy on Friday:

Obama, who came into office bemoaning a broken electoral system, has proved surprisingly energetic at fundraising from wealthy donors and using his office to his political benefit in states that could decide his re-election.

He’s attended 103 reelection fundraisers — about double the 52 such events Bush had attended at this point in 2004, according to tallies kept by CBS’s Mark Knoller. …

And while Bush and his Cabinet members were slammed by Democrats for official travel to swing states before key elections, Obama has made more than 60 trips to swing states since taking office. His travel after his State of the Union address this year was exclusively to states potentially pivotal this fall: Iowa, Arizona, Nevada, Colorado and Michigan.

Don’t forget that Obama also had some competition for Democratic contributors in February 2008, too.  Hillary Clinton raised $34 million, not much below what President Obama raised in a field all by himself last month.  Combined, that’s a drop of 55.7% in Democratic presidential fundraising in February, even with the frenetic — dare we say desperate — pace of fundraising by Obama.

That’s not to say that Obama won’t get plenty of cash.  He has $91 million in the bank, and several months more of fundraising to go before the convention.  But that’s far, far off the presumed pace of one billion dollars that Team Obama expected to set, and it’s a pretty good indicator of enthusiasm for another Democratic term in the White House this term.