Friday, December 05, 2008

$750 Million

From the AP via TPM:
Barack Obama's presidential campaign raised $104 million in the weeks around Election Day, a grand finale to a successful bid that shattered fundraising records.

Overall, Obama raised nearly $750 million during his odyssey to the presidency, according to reports being filed with the Federal Election Commission. The reporting period covered Oct. 15 to Nov. 24.

The campaign said more than 1 million contributors donated during the period, with more than half donating for the first time. Throughout the campaign, more than 3.95 million contributors gave to the eventual president-elect, his campaign said.

The Democrat's fundraising and his spending eclipsed that of his Republican rival, John McCain. Obama was the first presidential candidate since the campaign finance reforms of the 1970s to raise private donations during the general election. McCain opted to accept public financing. That limited him to $84 million to spend from the beginning of September.

By comparison, Obama spent $315 million since Sept. 1, a huge disparity that McCain tried to narrow by relying on millions of dollars worth of help from the Republican National Committee.

. . . .

Overall, the institute found that Obama collected about 26 percent of his total haul from people who gave less than $200 — about the same as President George W. Bush did in his 2004 campaign, but less than Democrat Howard Dean's small-donor take of 38 percent in his unsuccessful primary bid that year.

And like other campaigns, Obama's relied for nearly half of its fundraising on big donors, those who gave $1,000 or more, a finding that "should make one think twice before describing small donors as the financial engine of the Obama campaign," the institute reported.

1 comment:

Steven P said...

I wonder if large donors were perhaps inspired by the amount of money contributed by small donors and that encouraged them to give more. Is there a real way to study that?