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Barack Obama campaign raised nearly $1 billion, shattering records

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n2doc Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-05-08 06:13 AM
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Barack Obama campaign raised nearly $1 billion, shattering records
Fundraising outpaced combined total of Bush and Kerry in 2004 election, records show

By John McCormick and Mike Dorning | Tribune reporters
10:29 PM CST, December 4, 2008

As he hosted a gala celebration for some of his earliest and most loyal financial supporters Thursday evening, President-elect Barack Obama's aides released new information showing the magnitude of their feat: They raised nearly $1 billion for his campaign and other election-related efforts.

The stunning total includes already recorded and estimated fundraising for his campaign, national convention, transition and upcoming inauguration.

That sets a new and dramatically higher bar for future presidential candidates, radically changing the financial definition of a serious bid for the White House.

Roughly three-quarters of the money Obama raised was directly channeled to his campaign, a marathon that lasted nearly two years and ushered in an unprecedented level of national fundraising using old-school techniques as well as a cutting-edge, Internet-based operation.

A disclosure report filed late Thursday showed Obama raised $111 million from Oct. 16 through Nov. 24.

That brings his campaign total receipts to $770 million, easily more than the combined fundraising for the 2004 election by President George W. Bush and Sen. John Kerry of Massachusetts.

Not including money that was later distributed to his own campaign fund, Obama helped raise more than $100 million for a joint committee he had with the Democratic National Committee. The party used that money for voter turnout and other election-related activities.

A host committee for the Democratic National Convention in Denver also raised about $61 million, while his transition and inaugural committees will likely raise a combined $50 million or more.

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