One of the many enduring myths and legends of the Obama 2008 victory is that Obama’s record-breaking fundraising came from small donors. Perpetuating the false impression that small donors are Obama’s base is a priority of the Obama campaign, which now focuses on running low cost ($5, $3) dinner raffles to run up the number of small donors and bring down the average donation size.
In reality, Obama always has been heavily dependent on big donors and bundlers.
Given Obama’s obsessive-compulsive, Rainman-like class warfare rhetoric and demonization of those who achieve financial success, it it not surprising that large donors are refusing to feed Obama at the rate they have in the past. Via The NY Times:
President Obama’s re-election campaign is straining to raise the huge sums it is counting on to run against Mitt Romney, with sharp dropoffs in donations from nearly every major industry forcing it to rely more than ever on small contributions and a relative handful of major donors.
From Wall Street to Hollywood, from doctors and lawyers, the traditional big sources of campaign cash are not delivering for the Obama campaign as they did four years ago. The falloff has left his fund-raising totals running behind where they were at the same point in 2008 — though well ahead of Mr. Romney’s — and has induced growing concern among aides and supporters as they confront the prospect that Republicans and their “super PAC” allies will hold a substantial advantage this fall.
That’s not to say Obama isn’t raising a lot of money, he is.
As The Times points out, Obama still is doing well with Hollywood, high-tech and Wall Street, but he’s finding it harder and harder, necessitating 100 fundraisers since the spring of 2011. Obama does not hesitate to rely on disgraced bundler John Corzine.
Mr. Money Means Nothing To Me is as money hungry as they get.
But Obama has to do a lot more than merely good fundraising because his campaign already is burning through a lot of cash. For example, in March Obama’s campaign raised $46.4 million and spent $37.7 million.
Obama appears unlikely to be the billion dollar candidate he hoped to be, although he will be the several hundred million dollar candidate for sure.
Why people feed him even that amount is beyond me.
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Obama is neither liberal nor socialist. He is a crony capitalist.
He sold his soul when he was still back in Chicago. He’s just a puppet now.
In truth, Obama is a Collectivist, with a strong preference for the fascist economic model.
It is the most dangerous of the Collectivist models, and has been historically very seductive in America.
It APPEARS to leave property in the hands of its owners, which it nominally DOES. But it subverts control to a corporatist collective, classically made up of BIG GOVERNMENT, BIG BUSINESS, and BIG LABOR. More recently, you can see variations where the BIG LABOR role is played by BIG GREENIES.
I assume that the costs of collecting money electronically on-line (PayPal, credit cards, etc.) may not be significant, but I have wondered if those $3 & $5 donations actually net any significant amount of money. And those dinner raffles are usually right before the end of the reporting period.
Will the Republicans do anything about the illegal money coming in from other countries this time?
http://www.businessinsider.com/leaked-stratfor-emails-democrats-tampered-with-2008-election-2012-4
…..Burton wrote:
3) The hunt is on for the sleezy Russian money into O-mans coffers. A smoking gun has already been found. Will get more on this when the time is right. My source was too giddy to continue. Can you say Clinton and ChiCom funny money? This also becomes a matter of how and when to out.
and
http://hotair.com/archives/2012/04/02/here-we-go-again-obama-website-accepting-contributions-from-phony-donors/
I dunno, professor, when it comes to “class warfare rhetoric and demonization of those who achieve financial success,” it seems like Ronald Reagan said much the same thing.
Didn’t Reagan also say that it was unfair that a bus driver or secretary paid more in taxes than a millionaire?
We continue to ‘feed Obama even that amount’ because we know the disastrous consequences of conservatives running thing…indeed, we are still living them.
Oh, and please don’t ‘disappear’ this comment, Soviet style, the way you have been disappearing some of my comments, professor. I’m sure the Politburo would be proud, but don’t conservatives claim to believe in freedom of speech? That’s what they say, anyway.
Why would the Prof. take down your comments?
You are such an excellent example of the Collectivist liar, you’re really important here.
America’s enemies would benefit from Obama’s reelection.
Just sayin’.
And even more from the election of a Republiklan. We saw how the last one went, from 9/11 to the disaster in Iraq.
Hell, “America’s enemies” are likely praying for the return of the GOP to power.
What “disaster in Iraq”. That was an Obamic “great success”.
Having trouble with your talking points, arnya…???
I notice that happens a lot with trolls. Must have something to do with the underlying pathology that drives you to BE a troll.
We are not talking about the 1800s or the 1960s, though.
This is now, nearly fifty years after the civil rights legislation that drove millions of dixiecrats into the welcoming arms of the GOP.
Today, now, there is a wide streak of racism running up the back of the Republiklan party.
Or had you not noticed how the GOP has become the “white people’s party” in all but name?
The Republicans have been the “white peoople’s party” since FDR, but white people do not equal “racist.”
The south started turning Republican when Northerners began migrating south in the 50s. If you would care to look you would see that the Bull Conner and George Wallace Democrats never became Republicans. They stayed as Democrats until the day they died. People who were 30-50 in the 1960s were 60-80 in the 1990s and were beginning to die off, hence the Republican inroads in 1994.
Regarding the racist streak – please give specifics. Voter ID laws are not an example of racism.
Now, I’m not saying there isn’t racism – there is. But I don’t see where it is Republican racism as opposed to Democrat racism.
Dare I say it? Obama continues to receive millions in contributions from the middle east in small, less than $250 contributions that are not tracked for where they came from due to loopholes in FEC laws.
Funny….so if they are ‘not tracked,’ how exactly do you know this?
Funny that it NEVER bothers the Collective when Obama lies to them.
Ever.
They just break over and say, “Please, may I have some more?”. They just love being punked.
Well dude, like I said, if they guy says these small contributions ‘can’t be tracked’ then it seems a pretty legitimate question how he knows there are ‘millions’ coming from the Middle East.
Even funnier that you guys would worry about money from the Middle East.
After all, you gave us Bush (well, Rehnquist did), our first Saudi president.
I’m thinking his Saudi support will be considerably less than it used to be, he’s been woefully ineffective in addressing their concerns about Iran’s growing nuclear capabilities.
I think they ARE desperate, considering that they’re not using eVERIFY again. Where are the Stupid Party protesting that? He can be getting money from IMA CRIMINAL Pakistan again.
Obama is an empty suit, a puppet, for George Soros and the Bilderbergs
Really…???
I think Bildaberger is a new promotion at Whopper.
GEEEE…mony…christmas…
Obama is clearly a disastrous president, but he’s surrounded by people who know how to campaign.
I think it was Mike Allen at Politico who said they’ve been data mining the 7 or so big swing states to identify persuadable independents and they’ve organized 100,000 volunteers (mostly union workers) who are ready to work the phones and canvass neighborhoods to do the persuading.
Romney is up against a fricking machine.
A machine?
Then it will be a fair fight, since you’ve nominated a robot.
heh…rock’em sock’em robots!
This is actually quite simple. Dear leader is a classical Italian Fascist in the Mussolini mold. Read Liberal Fascism for clarification. Italian Fascism is a very seductive political theory and the smart set of the 20s and 30s just loved it to death.
Didn’t it take Obama 3 to 4 times the money McCain had to beat him? The poor value in converting money into votes was a foretaste of his stewardship of the nation’s finance.
His incumbancy bonus is probably canceled by his record requiring him another 3 to 4 times the funds of his opponent. For every dollar Romney raises Obama will need 4.
Basically, he’s getting a bit from “true believers” but it’s mostly protection money, Chicago-style.
[…] however, it is going to take much, much more than mere fundraising to be reelected. As stated at Legal Insurrection, in March Obama’s campaign raised $46.4 million and spent $37.7 million. WOW, what did that […]
What else is new.. Politics as usual.. Big money, big corruption, Big lies, and who loses.. America, the US Constitution, Conservatism, thus the American people as we are now faced with the choice of choosing between Hitler or Stalin, and we all know who is the better candidate, now don’t we..