WASHINGTON/CHICAGO — The
number of donors who raise big money for President Barack Obama jumped
in the last three months as he builds a war chest for what will likely
be the costliest presidential election ever.
At least forty-one people have raised at least half a million dollars
for the president, compared to 27 in Obama's first report, according to
an analysis of campaign data released Friday.
The big donors, known as "bundlers," are typically well-connected
people who pledge to gather tens of thousands of dollars for a candidate
Former Goldman Sachs executive Jon Corzine and Dreamworks Animation
chief executive executive Jeffrey Katzenberg are on Obama's elite list
and raised $500,000 or more.
The president's campaign finance report shows he can still pull in
major cash despite a stagnant economy, dipping approval ratings and
grumblings among some liberal supporters that he has not done enough for
their cause.
While still keeping ties to his famed small donor operation, Obama is
relying heavily on major donors early on to finance a campaign that is
likely to break records in spending, according to Anthony Corrado, a
campaign finance expert at Colby College.
"The emphasis has been on doing larger dollar fundraising events
particularly asking for $2,500," Corrado said. "Events like this help
him to raise substantial amounts of money for the campaign allowing him
to exceed his pace for 2007."
GOP ahead in polls
Obama and the Democratic National Committee have raised
more than $150 million so far for his bid for a second term, far
outstripping Obama's Republican rivals.
But fundraising prowess doesn't guarantee victory for the incumbent,
who is fighting for re-election amid a economic stagnation and high
unemployment.
Opinion polls show that Obama will have a tough time winning
re-election next year. A Gallup poll released on Friday showed that U.S.
registered voters, by 46 percent to 38 percent, are more likely to vote
for an unnamed Republican presidential candidate than for Obama in
2012. Obama recently called himself the "underdog" in the race.
Bundlers raised about a third of Obama's war chest so far.
Earlier on Friday, Republican Mitt Romney posted $14 million for the quarter,
second to fellow Republican Texas Governor Rick Perry's $17 million.
Obama's comparable fundraising figure for the three months was $43
million.
Obama voluntarily releases a list of bundlers. No other major candidate has done so.
The president regularly brings in more than $1 million in a single
evening of fundraising, as supporters donate the legal maximum of
$35,800 to his campaign and the Democratic party for the chance to have
dinner and take a picture with the president.
UBS executive Robert Wolf and hedge fund executive Orin Kramer are also big Obama fundraisers.
'Doing well with small donors'
At least 40 percent of all the money raised by the Obama
campaign and the Democratic National Committee last quarter came from
those giving in increments of $200 or less.
The Obama campaign has been touting its connections to mainstream
Americans who send smaller checks, calling itself a grassroots effort.
"They are still doing well with small donors," said Darrell West,
director of governance studies at the Brookings Institution, a thank
tank.
The campaign said that in the third quarter about 600,000 people donated to the campaign.
Much has been made of dipping support among Wall Street for Obama.
Some financial executives, including hedge fund managers, have
complained about Obama's tax and financial regulation policies and his
comments about the wealthy, at times calling them "fat cats."
In the second quarter, more Wall Street money did flow to Romney, who
has deep ties there. Still, Obama boosted the number of bundlers with
Wall Street ties in that period.
The Republican candidates' reports, due Saturday, offer the first broad look at their financial health.
They are the first official tallies of donations and expenses for
contenders Perry, Minnesota Rep. Michele Bachmann, former Utah Gov. Jon
Huntsman and businessman Herman Cain, who said he raised $2.8 million this quarter.
Romney, a former Massachusetts governor, had nearly $15 million on
hand in addition to the roughly $14 million in contributions during the
July-September period that he reported Friday.
Perry, who briefly surged to the top of the Republican presidential field this summer, has roughly the same in the bank.
Not counting major support from Republican-leaning super political
action committees, the virtual tie between Romney and Perry for cash on
hand means the two have similar amounts to spend on ads and travel just
months before heading into key primary states.
Perry is expected to dig into his campaign funds to buy TV ads to
Romney's record on health care, abortion, gay rights and job creation.
His campaign suggested this week that the moment for a barrage of attack
ads was near.
Romney, the former governor of a predominantly Democratic state, has
been attacked for his shifting positions on social issues that are held
dear by conservative voters who dominate the Republican primary season.
Source: MSNBC
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