Posted on 09/14/2008 7:29:34 AM PDT by Schnucki
US Democratic presidential candidate Barack Obama raised $66m (£37m) in election funds in August, making it his best month in terms of fundraising.
The amount raised makes it likely he will have more to spend than Republican rival John McCain in the final two months before the vote.
Half a million new donors signed up to Mr Obama last month, an aide said.
There had been suggestions Mr Obama's fundraising had been falling behind since he netted $55m in February.
(Excerpt) Read more at news.bbc.co.uk ...
Soros
Ya think?
Well, you can raise all the money you want and still lose the election.
Kerry raised more money than Bush in 2004 and Bush still won the election!
McCain-Palin’08!!!!
Poor Unabama, all that money ain’t gonna be enough to buy himself the White House.
Yeah and McCain raised $47 million and that’s not counting Victory 2008. So we closed the gap.
The 0bama campaign had as its goal $100 million per month, through the election (Donations to Obama AND the DNC combined).
Time to make a donation.
He’s going to need it defending all those blue states.
He’s going to need it defending all those blue states.
BBC = Barack Bobama’s Cult!
[Time to make a donation.]
Yep!
Is the media going to speak up about how Soros/Obama are trying to buy the White House?
Probably getting it from the Arab world. Atleast that’s what Qadaffi said in a speech. I mean what other kind of support can be “sent” from the Middle East and Africa to support a US Candidate?
All the money in the world cannot buy one a soul. You either have it, or you don’t. He don’t!!!
“sorosw”
I kind of like watching the arrogant bastard throw away money in election after election.
http://hotair.com/archives/2008/09/14/obamas-august-66-million/
“However, it tells only part of the story. While John McCain can only spend $84 million over the next two months after accepting that much from the public-financing system, it doesn’t cost him a dime to get it. The Obama campaign’s burn rate will be critical in determining whether he’s actually raising enough money to keep him ahead of McCain. If it costs him more than $20 million to raise that money, it’s essentially a wash — and the burn rate at Team O has been much higher than 30%. Their cash-on-hand numbers will probably tell a different story, as Obama would have to almost double McCain’s $84 million over the next two months just to stay even.
Also, the DNC’s numbers should prove interesting. The RNC has consistently outraised them, providing more cushion for McCain in building a war chest. If Obama got his new donations at the expense of the DNC, or even if they trail the RNC at the same rate as the rest of the year, Obama’s $66 million August will not keep pace with the overall GOP effort.”
While John McCain can only spend $84 million over the next two months after accepting that much from the public-financing system, it doesn’t cost him a dime to get it. The Obama campaign’s burn rate will be critical in determining whether he’s actually raising enough money to keep him ahead of McCain. If it costs him more than $20 million to raise that money, it’s essentially a wash — and the burn rate at Team O has been much higher than 30%. Their cash-on-hand numbers will probably tell a different story, as Obama would have to almost double McCain’s $84 million over the next two months just to stay even.
Also, the DNC’s numbers should prove interesting. The RNC has consistently outraised them, providing more cushion for McCain in building a war chest. If Obama got his new donations at the expense of the DNC, or even if they trail the RNC at the same rate as the rest of the year, Obama’s $66 million August will not keep pace with the overall GOP effort.
The rest of the figures will come out this week, and that will give us a more complete picture of whether Obama made a fiscal error in opting out of public financing.
Article is spin. They don’t mention the $200M McCain had in his coffers post election or the $47M McCain raised in the same month. The Obamanation has gone through money like water. McCain has stocked up for the last weeks. That said, this HELPS McCain because it will motivate more donations for him and Palin.
The real questions are:
How much money did he have on hand on September 1? Reports are that Snob-ama has been spending money like a drunken sailor. Conversely, Sen. McCain had $200 million in the bank on September 1.
How much money will he raise in September and October? At this rate, probably around $135 - $150 million. Conversely, Sen. McCain will get $84 million in public funds, and the RNC and related state party entities could easily pull in another $80 - $100 million, meaning that Sen. McCain could easily bank another $165 - $185 million for the cause in the last two months.
How effectively is Snob-ama using his fortune? He has been spending quite freely since June, and seen his polls diminish from a substantial lead to a modest loss. Perhaps WE should all donate to Snob-ama, as it seems that the more he spends, the worse he does. * chuckle * Conversely, Sen. McCain seems to have been a wise steward of his funds, spending nearly nothing in Florida as opposed to Snob-ama’s $8 milliion, and moving out to a moderate lead.
In August, they had their convention. Wouldn’t that be the reason of the spike in donation?
Isn’t it amazing. A Community Organizer with next to zero accomplishments as an organizer, state senator or brief U.S. Senator will raise and spend nearly half a billion dollars trying to get elected.
America is a wonderful place, but this is odious.
Geez, I meant post convention, not post election.
Some of the posts above say McCain can only spend $84M. Is that true? What happens to money people give to him now, since he has over that on hand already? I’m confused.
Florida: Team Zero has spent 8 million dollars vs 0 for McCain and they are losing.
So Obama raised a record amount during his convention month. Whoopdee-doo. The question is now at mid-month what does Obama have on hand.
And right below this story on CNN is a story about how Palin’s speech in Nevada didn’t include talking about nuclear energy because of Yucca Mountain. Duh.
Where is this scrutiny for Obama? I know, rhetorical question.
You cannot donate directly to McCain because he accepted the public funding. HOWEVER- donations to the RNC and many 527's can be spent on McCain's behalf with no limit.
Money to the RNC helps big time right now.
McCain 2008 can only spend the $84.1 million from the end of the convention to election day. However there is no limit on what the RNC can spend on McCain’s behalf.
Got it. So can McCain give some of his $200M+ to the RNC?
The writers (and HEADLINES) deliberately imply this was a record fund-raising SEPTEMBER - not a record-fund-raising August (with its three weeks of dnc fund-raising hype.)
Of course, Sept is only half-through, and that so far - shows only fund-raising gains for McCain and losses for Obama. (Notice the headline tries to counter those facts however.)
On the otherhand; the Obama Campaign could be being used as a Money Laundering tool for the Vast Democrat Crime Facility.. You know the Democrat Party.. i.e. Drugs, Payolla, Protection Scams etc..
“Where is this scrutiny for Obama? I know, rhetorical question.”
The media is scrutinizing Palin’s actions. For them to scrutinize Obama, he’d have to have some actions, or accomplishments, or lists of goals he’s met.
“Soros”
and Oprah.
Let’s look at the actual numbers. Aside from both sides’ 527s, money can be raised by the campaign directly or the RNC or DNC. Since McCain took public financing, his campaign is very limited in the donations it can accept (ie. only limited fundraising to the Compliance Fund).
For the Republicans/McCain, as of the end of August (excluding 527s)
RNC - Cash in Bank - $115 M (includes its own cash + McCain remaining)
McCain - Cash in Bank - $85 M (public funding)
Total RNC+McCain - Cash in Bank - $200M
RNC Fundraising Goal (Sep/Oct total) - $100 M
Total RNC+McCain projected Spend - $300 M
For the Dems/Obama, as of the end of August (exclusing 527s)
DNC - Cash in Bank - $35 M (estimate - based on July total + Aug fundraising & spending, including convention)
Obama - Cash in Bank - $77 M
Total DNC+Obama - Cash in Bank - $112 M
Obama+DNC Fundraising to break even with McCain/RNC - $188 M
Total DNC+Obama projected Spend - $300 M
So, Obama + DNC have to raise $188 M in Sept + Oct for PARITY with McCain + RNC. That’s $94 M per month, combined. And, yes, that will be nearly 2x the RNC fundraising but still PARITY on actual cash in bank available to spend. We don’t know what the DNC raised in Aug, but together they are probably short of the goal.
Now, if Obama & McCain each have $300 M, how effective will that spending be:
Obama has to work to raise all of his money. He’ll be attending dozens of fundraisers in solidly Democratic territory, such as Los Angeles, Chicago, & New York. That’s alot less time on the campaign trail.
Obama’s “burn rate” is much higher than McCain’s. He has hundreds of offices all over the country with thousands of paid staffers. So far, all of these offices and paid staffers have done relatively little, as polls indicate McCain is ahead. That’s less time for advertising because of higher overheads.
The media says that Sarah Palin’s speech at the Convention helped Obama fundraising in Sept. That may be true. However, whatever effect Palin has had on helping Obama’s fundraising, her help to McCain’s fundraising in September has to be at least 2:1, 3:1, maybe 4:1 greater.
We’re half way through September, and Obama still has resources in places he’s not going to win (ie. Georgia, North Carolina). This means less money on the real battleground states to spend.
Net although both campaigns + RNC/DNC should have roughly $300 M to spend over Sept/Oct (if the DNC can keep up), Obama has structural disadvantages inherently built in to his numbers. His $300 M will not be nearly as effective as McCain’s.
Hard to see how Obama’s gamble is going to pay off. He’ll need to raise roughly $100 M (not $66 M) per month in Sept + Oct, PLUS strong fundraising by the DNC (+$25 M) in order to see any benefit. Not very likely that will happen.
LLS
Libs are lousy investors.
McCain raised 44 million and he also gets 84 million in government funds. Obama turned those funds down.
It’s a horserace.
I wonder if the fact that McCain wrote the Feingold-McCain act that he would be an ORACLE on how to use it the the best of its ability?
Besides, the more Obama raises and burns, the easier it is to swipe that low hanging fruit during the debate about how nObama talks about managing govt, but look at his executive experience, he is burning money up faster than accetone on a grease fire.
This could be a major talking point when McCain gets to the debate.
Thanks, that really spells it out.
Yup — hadn’t had my first cup of coffee yet and goofed.
About $125 MIL of that $210 MIL is techincally the RNC’s money. It is mostly from the Victory 2008 fund which raises money on behalf of McCain by the RNC.
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