Obama Campaign Raises Record Sums from the Wealthy

Information Clearing House

Proving that President Obama is the first choice of Wall Street and the American super-rich, his reelection campaign announced Wednesday that it had broken all previous records for fundraising, raking in $86 million during the second quarter of this year.

The $86 million total dwarfed the previous record for presidential reelection fundraising, the $50 million raised by George W. Bush in the third quarter of 2003. It was far above the $60 million target set by Obama’s campaign manager, Jim Messina.

Obama for America, the official name of the reelection effort, raised $47 million, while the Democratic National Committee collected $38 million, largely from fundraising events featuring the president, where big donors are allowed to give up to $30,800 apiece. Individual donations to Obama for America are limited under federal election laws to a maximum of $5,000.

By comparison, the leading Republican fundraiser, former Massachusetts governor and investment banker Mitt Romney, raised $18.25 million in the April-June quarter. The total raised by all the Republican presidential hopefuls who have filed reports with the Federal Election Commission came to only $36 million, less than half Obama’s haul… Complete story here

One Comment

Looks like Advertising Age’s “Marketer of the Year” is headed for another record in fund-raising. And primarily from the corporados, who will be lavishly repaid through their custom-built legislative and policy mechanisms. Can there really be any doubt left about this poseur? And soon we’ll be hearing about how we have to vote for him, because the other guy (or gal) is so much worse. It’s like a Civil War re-enactment – phony right down to the shoelaces – only with serious consequences.

What a system.