Posted on 09/15/2008 7:46:10 PM PDT by Schnucki
Barack Obama is in danger of being outspent by John McCain and the Republican Party in the final 49 days of the US presidential race, despite having smashed all records for fundraising this year.
The Democratic nominee began the summer by refusing public money amid confidence that the enthusiasm of small donors would overwhelm the Republican money machine that traditionally grinds up opponents in the closing stages of the campaign.
At the weekend, Mr Obama was reported to have raised $66 million (£37 million) last month, taking his total to $455 million so far – more than any presidential candidate in history. He finished August with $77 million in the bank, twice the cash-in-hand total of Mr McCain, and has a vast donor army of 2.5 million people. When estimated figures for the campaign war chests built up by each of their respective parties are included, however, the Republicans appear to have more money to spend: $110 million compared with the Democrats’ total of $94.5 million.
Mr McCain has access to an additional $85 million of public subsidies and, while this prevents him raising any more money for his campaign, the Republican National Committee predicts that with Sarah Palin revitalising the party’s base it can generate at least another $100 million. That would leave Mr Obama and the Democratic National Committee needing to find another $200 million before election day on November 4 if he is to keep up.
A strategist on Mr McCain’s campaign told The Times yesterday: “It’s now clear that the huge advantage Obama’s team thought they would have – of $100 million, $200 million or more – is just not going to materialise. There is a better than 50-50 chance that they will not have any advantage at all.” The Democratic nominee is having to divide
(Excerpt) Read more at timesonline.co.uk ...
Bet he has buyer’s remorse of those Greek columns right about now.
always
victims
democrats.
I’m lost.
If McCain is limited to public funds how can he
a) Get more donations because of Palin?
b) Out raise BHO
Next, isn’t public funding of a campaign inherently liberal thing to do and not very conservative?
Good to see were back with Republicans as the ones with money. I was starting to beleive that big business stopped trying to shove a neo-conservative agenda down our throats via advertising propaganda.
Of Obama’s many expenses, his hubris is most costly.
$455 million so far, has $110 million left. What has Barak got for the $345 million he has spent so far?? Where did it go? Swiss Bank Account? Caymen Islands? Inquiring minds want to know.
You mean those styrofoam columns? LOL
This is very good news.
I want to see some smashmouth ads out of the GOP.
Heck, I am almost ready to reopen my checkbook.
b) McCain + RNC >= Obama + DNC
And yes, public funding is basically political welfare. Of course, while it's existed, everyone in history has used it, except Obama. So while it may not be particularly conservative, it's not exceptional.
We can, as individuals still contribute to the Republican National Committee.
Zerobama...finding new ways to suck.
Okay. i gathered that was the idea.
So now...
a) What is the point of public funding if the party can spend, spend, spend on the candidate.
b) WILL the RNC do so? I swore I was done sending them money. All they do is spend 1/2 my donation money trying to get more from me and 1/2 the remainder getting RINOS re-elected.
Reagan took public funds. Are you calling Reagan a liberal? Every major candidate since 1976 except Obama has taken public funding. Barry opted out of the system not because he wanted to save the public money but rather because he was convinced that he could get more money through private donations.
Bush did?
Both times?
I distinctly remember sending Bush/Cheney lots of money. I thought public funding was almost never used?
Donations have to be directed to the RNC or an equivalent organization. Currently some funds can go to this:
"Because the McCain-Palin Campaign is participating in the presidential public funding system, it will not raise private campaign contributions after August 31, 2008. However, federal law allows the Campaign to establish the Compliance Fund to defray legal and accounting compliance costs and preserve the Campaign's public grant for media, mail, phones, and get-out-the-vote programs."
Donations can also be made 'in kind', (service in place of money)
And yes in my mind private funding is a more conservative thing to do. In the case of Obama it was a calculation that his money tree would continue to bear tons of cash
If that’s sarcasm.... /clap Yay you!
If not, I wish I could understand what you’re sayin, maybe if you removed your mouth from Ron Paul’s @#$ and repeated it.....
He's gotten 4 points down in Fl and even in Pa. It boggles the mind. All that money and he has nothing to show for it.
adding my snicker to your snicker...
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