Obama's 'billion-dollar' campaign: Did the fundraising hype backfire?
Obama raised a "staggering" $250 million in 2011— but did the perception that Obama is on his way to $1 billion dissuade Dems from giving more?
President Obama's re-election campaign raked in $42 million last quarter, which, added to the Democratic National Committee's $26 million, brought the joint Obama-DNC haul for 2011 to roughly $250 million. Impressive, yes, but less so when you consider the Obama campaign's reported $1 billion target — talked up by some Democrats and plenty of Republicans, but dismissed as "bullsh**t" by Obama campaign manager Jim Messina and now clearly out of reach. In fact, says Glenn Thrush in Politico, the "myth of Obama's 'billion-dollar' money bomb" may have convinced Dems that Obama has the fundraising locked up, and dissuaded them from donating. Exhibit A: The Obama-DNC's $68 million is a step down from the $70.1 million they raised in the previous quarter. Did Democrats mess up by overselling Obama's money machine?
Yes, Team Obama flubbed the expectations game: When put in context, Obama's $250 million haul is less impressive than it seems, says Alana Goodman in Commentary. The RNC and Bush-Cheney campaign, for example, raised $273 million (adjusted for inflation) in 2003. But Obama's real measure of fundraising success is his own 2008 campaign: This time round, he may not even exceed his own $746 million record. It's a little late to downplay expectations, now that we've seen the "obvious lack of enthusiasm from supporters."
"What happened to Obama's $1 billion campaign?"
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
The president is raising plenty of cash: Yes, Obama will fall short of the billion-dollar mark — "a figure his campaign regularly scoffed at as simply pie in the sky" — but he's still a "remarkable fundraising force," says Chris Cillizza in The Washington Post. Obama's 2011 haul "dwarfs the totals put up by the Republicans hoping to unseat him," even frontrunner Mitt Romney, who raised $56 million last year. And that's what counts: Obama's cash advantage should give him "first crack at setting the terms of the general election."
"Obama unlikely to break billion-dollar fundraising mark"
Obama will need all the money he can get: "The Goliath vs. David optics of that are deceptive," says Tommy Christopher in Mediaite. Obama's not just running against Romney, but against several well-funded GOP super PACs. The sparsely funded ones backing Obama won't make up the difference, so Obama has to. With the super PACs such a wild card in the money race, the best number from Obama's "staggering" fourth-quarter haul might be 200,000: The number of first-time donors to his campaign, an indication of "fresh interest."
"Obama's reelection campaign announces $68 million 4th quarter"
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
-
Quiz of The Week: 20 - 26 July
Puzzles and Quizzes Have you been paying attention to The Week's news?
By The Week Staff Published
-
The Week Unwrapped: The dark world of illicit gambling
Podcast Plus, the pension pot shortfall and Obama's silence on Harris
By The Week Staff Published
-
Leonora Carrington: Rebel Visionary – an exhibition of 'unearthly delights'
The 'captivating' show features over 70 pieces spanning everything from paintings to tapestries
By The Week UK Published
-
How could J.D. Vance impact the special relationship?
Today's Big Question Trump's hawkish pick for VP said UK is the first 'truly Islamist country' with a nuclear weapon
By Harriet Marsden, The Week UK Published
-
Biden, Trump urge calm after assassination attempt
Speed Reads A 20-year-old gunman grazed Trump's ear and fatally shot a rally attendee on Saturday
By Peter Weber, The Week US Published
-
Supreme Court rejects challenge to CFPB
Speed Read The court rejected a conservative-backed challenge to the way the Consumer Financial Protection Bureau is funded
By Peter Weber, The Week US Published
-
Arizona court reinstates 1864 abortion ban
Speed Read The law makes all abortions illegal in the state except to save the mother's life
By Rafi Schwartz, The Week US Published
-
Trump, billions richer, is selling Bibles
Speed Read The former president is hawking a $60 "God Bless the USA Bible"
By Peter Weber, The Week US Published
-
The debate about Biden's age and mental fitness
In Depth Some critics argue Biden is too old to run again. Does the argument have merit?
By Grayson Quay Published
-
How would a second Trump presidency affect Britain?
Today's Big Question Re-election of Republican frontrunner could threaten UK security, warns former head of secret service
By Harriet Marsden, The Week UK Published
-
'Rwanda plan is less a deterrent and more a bluff'
Instant Opinion Opinion, comment and editorials of the day
By The Week UK Published