This is was unexpected and now seems to put in doubt that Romney will outraise Obama for the campaign.
"The reelection campaign of Barack Obama is back in the lead on the fundraising front after raising $114 million in August. The total, which is a combination of funds raised by the campaign, the Democratic National Committee (DNC) and Obama's victory committee, exceeds the $111.6 million the Romney campaign said that they raised in combination with the Republican National Committee (RNC) and Romney Victory for the same time period. This marks the first time since the Romney campaign and the RNC started raising money together that the Obama team has beaten them in monthly fundraising."
http://www.huffingtonpost.com/2012/09/10/barack-obama-beats-mitt-r_n_1869651.html
Indeed, it seems that the idea that team Romney is burying team Oama in fundraising is someting of a false narative:
"The fundraising jump could help to put to rest a discussion that has occurred throughout the campaign about how the president is falling short in his fundraising, with the Romney camp's recent heavy fundraising seen as the latest evidence. The stated concern is that Obama is not meeting the fundraising record set in his first run for office in 2008 -- or the $1 billion campaign that officials in, or close to, his campaign allegedly once predicted."
"The problem with these assertions -- which have circulated through blogs and news sites -- is that they've been wrong throughout the entire campaign. There is a chance that Obama will match the record $750 million that he raised for his campaign committee in 2008. That depends on the amounts the campaign raises in September and October. (It also depends on the breakdown of the $114 million raised in August and how much is for the campaign itself.)"
"One thing that is certain, Romney's campaign committee will not come close to reaching $750 million in campaign receipts -- assuring that he will not be the "best-funded candidate ever." (Romney would have to raise $500 million for his campaign from August through October, or $200 million more than Obama raised during the same time in 2008.)"
"In fact, no matter how you slice the funds raised by the two candidates, Obama remains the leader, although Romney made up a lot of ground over the summer. Obama is way ahead when we just consider funds raised by the candidate's campaign committees and significantly leads when including the party committees. The most generous comparison, and the one that includes the just released, although not officially reported, August numbers shows that Obama, the DNC and his two victory committees have raised $689 million since April 2011, while Romney, the RNC and his victory committee have raised $613 million."
http://www.huffingtonpost.com/2012/09/10/barack-obama-beats-mitt-r_n_1869651.html
What is interesting is the difference in the way the two campaigns raise money.
"But it’s the way the money was raised that matters. President Obama specializes in small-dollar, grass-roots fundraising, while Mr. Romney’s donors are more likely to make the maximum donation. The details won’t come out until Sept. 20, when the campaigns make their reports to the Federal Election Commission, but in their statements Monday, each campaign offered some clues".
"Team Obama noted that its 1.1 million August donors gave an average of $58, and that more than 317,000 were first-time donors. Some 98 percent of the donations were for $250 or less. In contrast, for Team Romney, about 31 percent of the haul came through donations of less than $250."
"Small donors become critical as potential ground troops when voting day draws closer – and with early voting starting soon in some states, the time to start “get out the vote” efforts is now."
http://www.csmonitor.com/USA/Politics/2012/0910/Why-Obama-beat-Romney-in-fundraising-for-first-time-since-April
So while those who complain of money in politics, much of the Democratic fundraising is of a different kind.
It's clear that Obama's fundraising is more drven by the little guy than Romney's.
Good article and I agree 100 percent. I also think what is happening is that the electoral map - which Obama has led this entire election cycle - is actually getting stronger for him. It's at the point now where Romney needs to pull an inside straight to win the electoral map and Obama has about 6 diffent paths to victory on the map.
ReplyDeleteRomney's supporters see the same electoral map that the Democrats do, so they are not as excited to throw away their millions at a losing proposition. On the other hand, the Obama supporters are very excited due to the convention, and due to the ever strengthening electoral map and are more inclined to donate to the Obama campaign now versus two or three months ago.