Obama raises $25 million ... in one day; Update: Story debunked

Now we know why the initial estimates for June were rumored to be $30 million — namely, because they were $30 million, until the very last day of the month. If Ron Paul’s $4.2 million single-day haul was a “money bomb,” what’s this? Money Nagasaki?

After locking up his party’s presidential nomination, Barack Obama’s fundraising operation came roaring back to life in June, generating more than a million dollars on five days, including a whopping $25 million that came in on the last day of the month.

His one-day haul represents nearly half of his monthly total and more than Republican rival John McCain generated for the entire month. During the month, McCain did not have a single day in which he raised a million dollars.

Overall, Obama raised $54 million for his campaign in June, compared to $22 million for McCain.

Geraghty spins this as proof that June really was slow for the Messiah after all, but knowing that the other guy beat our guy’s monthly take in a day doesn’t put me in the mood for gloating. How did he do it? I thought of that video his campaign manager posted begging for cash, but that didn’t appear until the first week of July. The closest thing I could find to some compelling eleventh-hour fundraising appeal in June is this pro forma solicitation from Obama posted the morning of the 30th. With a donor base of 1.7 million people and an average donation in June of $68, we can guesstimate that 21.6% of people on his e-mail list ponied up in response to the solicitation. Is that likely/plausible? Atlas Shrugs is calling shenanigans on his foreign donors and a quickie review of Open Secrets reveals that he received “only” $3 million in large contributions (i.e. over $200) on the last day of the last quarter even though he was still locked in battle with Hillary, but my awe of the Messiah’s magical money powers leaves me reluctant to doubt this take. Anyone knowledgeable about fundraising want to argue the contrary?

Update: Dave Weigel of Reason e-mails to say that Money Nagasaki is a fizzle. From Politico’s updated story on Obama’s fundraising:

An initial summary of Obama’s donations posted on the FEC website Sunday night grouped all of his un-itemized donations of less than $200 on the same day – June 30th. That left the impression that Obama had an astonishingly good — $25 million – final fundraising day for the month and Politico made that the lead of this story.

Turns out, Obama raised nearly $4 million on June 30th, a healthy amount certainly. But the $21 million from the un-itemized small donors, which are those who are not named because they haven’t given more than $200, came in throughout the month and not on a single day. The FEC is adding an explanatory note to avoid such confusion in the future, said FEC spokesman Bob Biersback.

So “large” donors accounted for $31 million, almost 50% more than small donors, notwithstanding the conventional wisdom in Obamaland that he was foregoing public financing in order to accommodate all the common folk who were itching to donate to him.

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John Stossel 12:01 AM on June 09, 2023