Just Another Guy with Opinions

Barack Attracts the Money

Posted by shadmia on July 3, 2007


Barack Obama is very good at one thing. He has convinced a lot of people to open up their wallets for him. He not only leads the Democrats with the most money pledged in three months, but the Republicans too. In the past three months (April-June) his campaign has received $32.5 million in donations and as a testament to his broad appeal the money came from 154,000 new contributors. That is an average of more than 1,500 people a day. Since declaring his intention to seek the Presidency six months ago Obama has attracted more than 258,000 donors who have given more than $55.7 million.

“Together, we have built the largest grass-roots campaign in history for this stage of a presidential race,” Mr. Obama said. “That’s the kind of movement that can change the special-interest-driven politics in Washington and transform our country. And it’s just the beginning.”

His closest rival and current leading Democratic candidate, Hillary Clinton, received about $27 million in donations with others taking in smaller amounts (John Edwards, $9 million, Bill Richardson, $7 million and Christopher Dodd, $3.25 million). Despite his lead in the fundraising game, Barack Obama is still running second to Hillary Clinton in the polls. In most national polls of the Democratic race, Clinton has a double digit lead over Obama with Edwards in third. However the field is more tightly bunched in early nominating states like Iowa, New Hampshire and South Carolina.

The candidates can raise money in two different categories; for the primaries or for the general election (once the party nomination has been won). Most of the money that Obama has raised is meant to be spent on the primaries ($31 million). Hillary Clinton on the other hand has been seeking donations for both the primaries ($21 million) and the general election (about $6 million). This gives Obama a $10 million advantage in the primaries for this period (April-June). Money collected for the general election can only be spent if the candidate wins the nomination. Individual donors are limited to contributions of 2,300 dollars, for each phase of the campaign.

For Obama, vaulting ahead of Clinton in the money race is an important achievement. The campaign has begun running biographical ads in Iowa to better acquaint voters with the candidate.

“While voters have a distinctly positive feeling about Barack, they don’t have a great depth of knowledge about his life and history of leadership in Illinois and Washington,” campaign manager David Plouffe wrote Sunday in an e-mail to supporters. “As we educate voters about Barack, we have strong reason to believe that our already impressive support in the early states will solidify and slowly build later in the year.”



Add to Technorati Favorites

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: