MyDD :: Obama Takes in $52 Million in June, $22 Million for DNC

Obama Takes in $52 Million in June, $22 Million for DNC

by Jonathan Singer, Thu Jul 17, 2008 at 08:39:15 AM EST

Big numbers this morning from the Obama campaign:

Democrat Barack Obama raised $52 million last month, boosting his presidential campaign's fundraising while building up his financial cache for the fall campaign.

The Obama campaign and the Democratic National Committee ended June with a combined total of nearly $72 million in the bank. The figure represents a notable fundraising jump, especially for the DNC.

But the Democrats still lag Republican John McCain's presidential campaign and the Republican Party.

Last week, McCain reported raising more than $22 million in June, which was his best month of the year. Together, the McCain campaign and the Republican National Committee began July with about $95 million in the bank.

[...]

The DNC said it raised $22.4 million in June, a dramatic increase from the $4.7 million it raised in May. The spike in fundraising came after Obama and the DNC formed a joint fundraising effort. Donors can give a maximum contribution to the party of $28,500.

The DNC still fell short of its Republican counterpart, which raised $26 million in June.

It's interesting to see the press, who had previously been fixated on (as it turns out) erroneous reports that the Obama campaign had brought in about $30 million for the month -- a number they saw as underwhelming -- try to make the argument that Obama's $52 million somehow fails to meet expectations, too. Just a few minutes ago on MSNBC, Chuck Todd, whose work I usually find to be quite insightful, appeared unimpressed by this report. No mention, of course, that Obama's haul was more than two and a third times larger than that of McCain, or that the DNC more than quadrupled its take from the previous month, or that the pace set by Obama this month would provide him more than enough resources to justify his wise decision not to opt into the public financing program.

This actually evokes something that Matthew Yglesias wrote about yesterday: The notion that everything must be good news for John McCain. Consistently trailing Obama in the polls? Good news! Taking in less than half the money as the Obama campaign in a month? Good news! Not connecting with voters? Good news! ...? Good news!

Tags: Barack Obama, White House 2008, Fundraising (all tags)

Permalink :: 36 Comments :: Post a Comment

Re: Obama Takes in $52 Million in June, $22 Millio (none / 0)

Maybe all this GOOD news for McInsane is really GOOD news for Obama. Only the press and the repigs don't know it! YET!

by eddieb on Thu Jul 17, 2008 at 08:43:23 AM EST

MSM has to make it good news (none / 0)

They DESPERATELY need it to appear close so people watch their innane coverage. If the reality of the situation were conveyed, they'd be out money. News coverage has always fallen victim to monetary concerns, and with the $$$ demands of 24hr news, it's just worse now.

by PHDinNYC4Kerry on Thu Jul 17, 2008 at 09:59:33 AM EST
[ Parent ]

Re: Obama Takes in $52 Million in June, $22 Millio (2.00 / 1)

I noticed that the anti-Obama blogs were upping the ante on fundraising. Last week they said the fundraising would be low if it was under $50 million (it wasn't) and then they switched to $100 million for a monthly target. They have to find fault with Obama and claim he's in trouble, so they throw out these outrageous numbers and expectations.

As for me, I think $52 million is STUNNING. And my family contributed $50 this month between three of us - so far.

We care about politics because we know politics matters for people's lives and opportunities.

by politicsmatters on Thu Jul 17, 2008 at 08:50:04 AM EST

Re: Obama Takes in $52 Million in June, $22 Millio (2.00 / 2)

Didn't get the memo, did you, Obama sucks at life, nothing will change that. Damned you kool aid drinkers. 52 million, even though we were saying 30, still not enough, it's those darned PUMA's, he obviously can't get money from Clinton supporters.

by Dog Chains on Thu Jul 17, 2008 at 08:56:32 AM EST
[ Parent ]

Re: Obama Takes in $52 Million in June, $22 Millio (2.00 / 1)

Stunning is in the eye of the beholder, and the expectations game is played by everyone. From the outrageous anti-Obama newspaper known as The Hill:

"One hundred million dollars this June -- it's definitely within reach," said Wade Randlett, who has raised more than $200,000 for Obama.

by joc on Thu Jul 17, 2008 at 09:24:06 AM EST
[ Parent ]

thanks - also look at where it's spent (2.00 / 1)

Thanks for posting. I had not seen that and perhaps that's where that number originated. But it is most definitely a number that was not the consensus for A LOT of money.

Obama raised more than twice what McCain had.

Even more stunning to me is how they are spending it -- on building the most far-reaching and deep field operation ever.

I keep hearing news from friends around the country and each is amazed at how many field offices and organizers and volunteers there are.

A friend in Anchorage reports that the Obama campaign has four offices in Alaska, compared to zero for previous candidates.

We care about politics because we know politics matters for people's lives and opportunities.

by politicsmatters on Thu Jul 17, 2008 at 09:58:52 AM EST
[ Parent ]

Re: thanks - also look at where it's spent (2.00 / 2)

You are so right! I live in Jensen Beach, Florida, a relatively small town in Central Fla. I was stunned when I was contacted by the Paid Obama Compaign staffer for Jensen Beach! This is a 2-1 repuglican county. Man was I impressed. We are going to have an Obama Canvassing operation this Sat. How's that for organization and REACHING OUT to the community. Spending the bucks where it really counts!

by eddieb on Thu Jul 17, 2008 at 10:10:03 AM EST
[ Parent ]

Obama + DNC actually have $92m overall (2.00 / 3)

Shortly after sending out that mass email,* however, Obama campaign spokesman Bill Burton emailed reporters to note an error: "The Obama campaign has $72 milllion cash on hand on its own, not combined. The DNC totals will be out shortly. "

Per ABC News' Political Director David Chalian, the DNC raised $22,481,194 in June and has $20,306,056 cash on hand. Meaning the Obama campaign and DNC have a combined total of nearly $92 million in the bank, not $72 million as previously claimed.

http://blogs.abcnews.com/politicalpunch/ 2008/07/obama-more-than.html

by verbatim on Thu Jul 17, 2008 at 09:02:19 AM EST

Yeah (2.00 / 1)

Considering how much money they had at the end of the primaries, it would be odd if they only had $72 million on hand after a month like this.

In this avalanche, the pebbles get to vote.

by Dracomicron on Thu Jul 17, 2008 at 09:16:49 AM EST
[ Parent ]

I still say they are being disengenuous (none / 0)

If they are going to do that they should add all the totals from every committee including House, Senate and Governors. The RNC will have to alocate some funds to save seats because the DCCC and the DSCC have so much more cash on hand. Yes, most of it will go to McCain because the White House is their only route to control of a branch of government but they are not going to completely abandon Congress either.

by conspiracy on Thu Jul 17, 2008 at 09:33:24 AM EST
[ Parent ]

I don't think it's going down like that (2.00 / 1)

As far as I can tell, they're putting all their eggs into the McCain basket. Didn't the various Republican committees tell their congresspeople that it was every GOP for themselves awhile back and to not expect money?

I think they re-named all their committees "McCain Victory Whatever PLZ" or whatnot so they could get $70K per person for McCain.

In this avalanche, the pebbles get to vote.

by Dracomicron on Thu Jul 17, 2008 at 09:55:28 AM EST
[ Parent ]

Re: I don't think it's going down like that (none / 0)

Then they are more stupid than I thought. Obama is going to have a huge Dem majority behind him come January.

by conspiracy on Thu Jul 17, 2008 at 09:58:10 AM EST
[ Parent ]

Media can't be wrong (2.00 / 2)

The media first reported 30 million, but it turns out to be 52 million. You mean the media was wrong--how can that possibly be?

The man who reads nothing at all is better educated than the man who reads nothing but newspapers. -- Thomas Jefferson

by pollbuster on Thu Jul 17, 2008 at 09:22:10 AM EST

Re: Media can't be wrong (none / 0)

Well they got played did they. Still. There can be no let up.
I'm chipping in $10 and I hope we hit $100m this month.

Obama/Biden 08

by W126 on Thu Jul 17, 2008 at 09:26:18 AM EST
[ Parent ]

Re: Media can't be wrong (2.00 / 1)

You are absolutely correct, and I just sent 25.

The man who reads nothing at all is better educated than the man who reads nothing but newspapers. -- Thomas Jefferson

by pollbuster on Thu Jul 17, 2008 at 11:18:46 AM EST
[ Parent ]

Re: Obama Takes in $52 Million (none / 0)

When you are the underdog, in any news, you do better than expected. So any news being good news for McCain is because he's losing.

Dizzy Zzyzzy

by Zzyzzy on Thu Jul 17, 2008 at 09:27:17 AM EST

In all honesty (none / 0)

$50 million is a bit low for a campaign going outside the public system. Come Labor Day, the Obama will find itself in a $75 million deficit against the McCain machine. The Obama campaign needs to develop a reserve for GE funds.

by Brad G on Thu Jul 17, 2008 at 09:42:22 AM EST

How do we know this? (none / 0)

I mean, isn't this the first time anyone's tried this?

In this avalanche, the pebbles get to vote.

by Dracomicron on Thu Jul 17, 2008 at 09:57:12 AM EST
[ Parent ]

Re: In all honesty (none / 0)

GE funds are in a separate pot of money. If a donor maxes out for the primary funds, she can donate to the GE fund.

But I guess that raises the question as to how much is primary money and how much is GE money.

We care about politics because we know politics matters for people's lives and opportunities.

by politicsmatters on Thu Jul 17, 2008 at 10:00:35 AM EST
[ Parent ]

Doesn't matter anymore (2.00 / 1)

Obama's primary money can be rolled over now that he's not taking public money.

McCain's cannot.

"No government has the right to tell its citizens whom to love. The only queer people are those who don't love anybody." - Rita Mae Brown

by auboy2006 on Thu Jul 17, 2008 at 10:07:30 AM EST
[ Parent ]

Re: In all honesty (none / 0)

How on earth can raising almost 2 million a day in a slow summer month be considered a bit low? By who's standards do we determine this? The Media? IMHO 52 Million is an outrageously high amount. Just think what BO will rake in just before and after the Convention!

by eddieb on Thu Jul 17, 2008 at 10:17:44 AM EST
[ Parent ]

Re: In all honesty (none / 0)

According to FEC reports, John Kerry raised $37.7 million in June 2004, $30.8 million in May 2004, $30.3 million in April 2004, and $44.2 million in March 2008. So Obama is doing marginally if at all better than Kerry was at this point.

by Brad G on Thu Jul 17, 2008 at 11:24:22 AM EST
[ Parent ]

That's not a fair comparison (none / 0)

Kerry locked up the Democratic nomination in March of 2004. Obama didn't do that until just last month.

Also, $52 million is not marginally better than $37.7 million. It's almost 150% better.

by Angry White Democrat on Thu Jul 17, 2008 at 01:17:55 PM EST
[ Parent ]

Re: That's not a fair comparison (none / 0)

Your right! You can look at is this way, add up all the money both Obama and Clinton raised in Mar, Apr, May and june then compare that to what kerry brought in!

by eddieb on Thu Jul 17, 2008 at 05:45:25 PM EST
[ Parent ]

Re: In all honesty (none / 0)

A bit low? If he continues to hit just 52 million a month till November, he will raise 208 million. How much would he have gotten from public funds?

The man who reads nothing at all is better educated than the man who reads nothing but newspapers. -- Thomas Jefferson

by pollbuster on Thu Jul 17, 2008 at 11:23:21 AM EST
[ Parent ]

Re: $85 million (none / 0)

But it takes tons of time -- a candidate's most precious resource -- to raise that kind of money. Obama really needed to raise more like $75-100 million this month to develop a good cash reserve.

by Brad G on Thu Jul 17, 2008 at 11:26:56 AM EST
[ Parent ]

Re: $85 million (none / 0)

It takes tons of time raising money if the candidate is using most his time going to fund raisers. This is not nearly the case, so your premise doesn't hold.

The man who reads nothing at all is better educated than the man who reads nothing but newspapers. -- Thomas Jefferson

by pollbuster on Thu Jul 17, 2008 at 11:58:01 AM EST
[ Parent ]

Re: Obama Takes in $52 Million in June, $22 Millio (none / 0)

52 million in June!!!!

Without even tapping into his small donors!

Without the heated campaign enthusiasm!!!

52 million!!!

Can't wait to see what he'll raise as we move closer to election day!!!

Yes!!! Many exclamation points!!!!!

Mooseburgers? Careful Sarah. Moose bite back!

by spacemanspiff on Thu Jul 17, 2008 at 10:38:06 AM EST

Good. (none / 0)

Let the Corporate Media keep downplaying Obama's fundraising.

It'll just motivate Democrats to give more and Repubs to give less.

by Bush Bites on Thu Jul 17, 2008 at 10:56:02 AM EST

One thing I've learned about Repubs, tho. (none / 0)

When they don't like the candidate, they just give to the party.

Democrats don't seem to be quite as rational with their donations.

Guess that's one reason why Repubs have been winning more.

by Bush Bites on Thu Jul 17, 2008 at 10:58:37 AM EST

Re: Obama Takes in $52 Million in June (none / 0)

It is always amusing to me when the corporate media and those that suck on their teat..
Still don't and won't get it.
The Obama campaign proved in the Primaries their ability to organize and raise money in a manner and level not seen by them..
By September Obama will have a funded 50 State ground game fully active...

This will be the difference..not only for Obama but for Dems in every State..

"harlequin speech of suicide, demanding instantaneous lobotomy"

by nogo postal on Thu Jul 17, 2008 at 11:03:51 AM EST

Re: Obama Takes in $52 Million in June, $22 Millio (none / 0)

Anyone thinks Obama is enroute to Iraq today?

That's what I think. He has nothing planned today and tomorrow.

Obama/Biden 08

by W126 on Thu Jul 17, 2008 at 11:16:09 AM EST

Re: Obama Takes in $52 Million in June, $22 Millio (none / 0)

Huh? Interesting.

Is anybody else missing?

by Bush Bites on Thu Jul 17, 2008 at 11:21:30 AM EST
[ Parent ]