The 2008 donors who haven’t returned to President Obama are disproportionately centrists and very liberal Democrats, while regular Democrats have stuck by the president, according to a new analysis of campaign finance data…

“Initially my expectation was that Obama’s donors were going to be more moderate in 2012 than they were in 2008,” Bonica said.

But the collapse onon both sides of the ideological spectrum makes sense, Bonica said, when thought of in the context of a candidate whose political record was as sparse as Obama’s was when he ran in 2008.