Obama Piles Up More Cash Than GOP Field

[brooklynite]

Source: Wall Street Journal

WASHINGTON—The Republican Party's extended primary campaign has allowed President Barack Obama to build a huge financial lead for the fall election.

New fund-raising reports released Tuesday show that Mr. Obama is stockpiling cash as the GOP hopefuls are burning through their money while campaigning against one another in the primary campaign.

Mr. Obama's campaign reported $85 million in reserves at the end of February, an increase from $76 million at the end of January, according to February campaign-finance reports filed Tuesday. That is more than six times the amount of money that the entire Republican field had in the bank...

(remainder of article behind paywall).

Read more: http://online.wsj.com/article/SB10001424052702303812904577293902009892674.html?mod=WSJ_hp_LEFTTopStories

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Wasn't this supposed to be the year of Republican enthusiasm?

[pnwmom]

1. But they have a huge lead in pack money. Huge. n/t

[truthisfreedom]

2. How huge?

[pnwmom]

6. Just two Rethug pacs alone expect to raise almost half a billion dollars.

Doesn't that sound huge to you?


http://www.nytimes.com/2012/03/14/us/politics/obama-campaign-fears-uphill-climb-raising-super-pac-money.html

With the general election campaign just a few months away, Mr. Obama’s allies are under growing pressure to raise money rapidly for Democratic-leaning independent groups, warning his supporters that the huge cash advantage mustered by Republican groups could prove decisive this fall, overwhelming Mr. Obama despite his own formidable fund-raising apparatus.

Early indications are that the Democratic super PACs are facing an uphill climb. While Mr. Obama’s decision last month to endorse super PAC fund-raising — a reversal of his longstanding opposition to campaign spending by independent groups — has made potential donors more receptive to Priorities USA Action and similar groups, few so far have written the kind of six- and seven-figure checks that Republican super PACs are collecting.

Priorities USA Action, a super PAC supporting the president’s re-election, will report $2 million in February donations, group officials said, including $1 million from the television host Bill Maher. Those amounts are substantial for Priorities USA and a related group, which together raised about $6.1 million through the end of 2011.

But it leaves them far behind American Crossroads, the leading Republican super PAC, which took in $51 million in 2011 and expects to eventually raise $240 million. Charles and David Koch, the billionaire conservative oilmen, expect to raise an additional $200 million for other groups opposing Mr. Obama. The disparity leaves the president largely reliant on the tens of millions he is raising for his own campaign to counter an expected onslaught of negative advertising.

SNIP

[NBachers]

4. Sounds like they have a huge lead in lack of money

[pnwmom]

5. Wrong. Not if you count pac money.

http://www.nytimes.com/2012/03/14/us/politics/obama-campaign-fears-uphill-climb-raising-super-pac-money.html

With the general election campaign just a few months away, Mr. Obama’s allies are under growing pressure to raise money rapidly for Democratic-leaning independent groups, warning his supporters that the huge cash advantage mustered by Republican groups could prove decisive this fall, overwhelming Mr. Obama despite his own formidable fund-raising apparatus.

Early indications are that the Democratic super PACs are facing an uphill climb. While Mr. Obama’s decision last month to endorse super PAC fund-raising — a reversal of his longstanding opposition to campaign spending by independent groups — has made potential donors more receptive to Priorities USA Action and similar groups, few so far have written the kind of six- and seven-figure checks that Republican super PACs are collecting.

Priorities USA Action, a super PAC supporting the president’s re-election, will report $2 million in February donations, group officials said, including $1 million from the television host Bill Maher. Those amounts are substantial for Priorities USA and a related group, which together raised about $6.1 million through the end of 2011.

But it leaves them far behind American Crossroads, the leading Republican super PAC, which took in $51 million in 2011 and expects to eventually raise $240 million. Charles and David Koch, the billionaire conservative oilmen, expect to raise an additional $200 million for other groups opposing Mr. Obama. The disparity leaves the president largely reliant on the tens of millions he is raising for his own campaign to counter an expected onslaught of negative advertising.

SNIP

[emulatorloo]

7. We are talking about a massively funded "Swift Boat" campaign

They are going to tell so many lies about Obama 24/7. Lib millionaires better wake the fuck up.

[alp227]

3. ny times: ‘Super PACs’ Supply Millions as G.O.P. Race Drains Field

http://www.nytimes.com/2012/03/21/us/politics/republican-candidates-increasingly-reliant-on-super-pacs.html

The Republican presidential candidates are running low on campaign cash as expensive primaries in states like Maryland, New York and Pennsylvania loom, leaving them increasingly reliant on a small group of supporters funneling millions of dollars in unlimited contributions into “super PACs.”

Mitt Romney raised $11.5 million in February but spent $12.4 million, according to reports filed with the Federal Election Commission on Tuesday. He began March with $7.3 million in cash, slightly less than in January.

Rick Santorum raised more than $9 million in his best month yet, but spent $7.9 million; he ended with $2.6 million in cash, along with close to $1 million in debts, mostly associated with television and Internet advertising.

Newt Gingrich raised $2.6 million, spent $2.9 million and had about $1.5 million in the bank, barely enough to keep his campaign going. He also began March with myriad debts totaling over $1.5 million for expenses like media placement, security services, salaries and airfare.

(psst...google WSJ article titles to evade the paywall!)

[3waygeek]

8. Funny...

I'm visiting my reich-wing parents in FL this week. In the next room, Mom's listening to Rush blather on and on about how President Obama's fundraising is in the toilet.

Thank God for MP3s & earphones...

[mwooldri]

10. A certain "news channel" was reporting the same thing too.

Basically the number of "big donations" to Obama are down this year compared to four years ago.

It's not the whole picture. We have SuperPACS in the game this year. I also bet the small donations to Obama are way up more than any of the opposition candidates from any party, particularly the main opposition.

I suppose you could say the Obama campaign is like Apple - an organization with a whole wadge of cash in the bank. Doesn't mean we should stop giving though.

[underpants]

11. Rush has them convinced they will win in a landslide

the rest of RW radio (and Fox News - same thing) are going with that too. I would suspect it is an effort to get out their vote but they vote very consistently.

More likely is that they are going to cry _RIGGED ELECTION
There is nothing that they have done over the last 3 years that wasn't a complete rip off of the left including the non-grassroots TeaBaggers

[thelordofhell]

9. That's President Obama.......not Mr. Obama

Fuckin' wall street journal.......says it right in the 1st paragraph then out comes the dis.......and don't go sayin' this isn't an insult.........it is.

[high density]

14. That's standard style

President first and then Mr later.

[cstanleytech]

12. Does this take into account the money from the many PACs?

[high density]

13. Washington Post on Sunday: "Obama’s high-dollar donations lagging"

http://www.democraticunderground.com/101477400

Obama could have even more money if the Democratic party stopped wasting their funds on mailing me something weekly that just goes into my recycle bin.