Obama raised 66 Mio. $ last month

[Tender Branson]

WASHINGTON--The Obama campaign raised $66 million in August--a new record--besting the $55 million previous monthly best set last February. Obama also added 500,000 new donors, according to Obama spokesman Bill Burton.

Obama opted not to take $84 million in public funding for his general election campaign-- because the Obama team was confident they could raise more. McCain took the $84 million check. Besides the Obama and McCain presidential warchests, each campaign also benefits from money raised by the Democratic National Committee and the Republican National Committee.

McCain raised $47 million in August, more than double his previous best month, fueled in part by a $10 million donation surge triggered by adding Sarah Palin to his ticket.

http://blogs.suntimes.com/sweet/2008/09/obama_raises_66_million_in_aug.html

[ChrisFromNJ]

So much for those estimates that he wasn't supposed to meet, like the New York Times had claimed.

Damn the conservative corporate media.

[Fmr. Pres. Duke]

LOL

The NY Times is a right wing mouthpiece!

[Tender Branson]

Obama had 77 Mio. cash-on-hand at the end of August.

The DNC had about 18 Mio. cash-on-hand.

McCain can spend 84 Mio. from now on.

The RNC had 110 Mio. cash-on-hand.

Let's assume that the RNC will raise 25 Mio. in both September and October.

Let's also assume that Obama raises another 130 Mio. in the next 2 months.

Let's further assume that the DNC will raise 40 Mio. in Sept/Oct.

So, the Democrats will have about 265 Mio. to spend in the next 2 months, vs. 245 Mio. for the Republicans.

[Zarn]

Some people aren't realizing that the RNC can help McCain out, although the poster before me has.

[Meeker]

The RNC is going to have to spend some money on House and Senate races though.

[Tender Branson]

The RNC is going to have to spend some money on House and Senate races though.

True, but the Presidency is the top-prize. And that's why they will pour 95% of their money into GOTV efforts. Because ultimately, if their people show up and vote for McCain/Palin it will trickle down on the Congressional races as well.

[Lunar]

The RNC is going to have to spend some money on House and Senate races though.

True, but the Presidency is the top-prize. And that's why they will pour 95% of their money into GOTV efforts. Because ultimately, if their people show up and vote for McCain/Palin it will trickle down on the Congressional races as well.

Actually, I think their risk analysis (payoff versus risk versus impact of spending) might show a number of senators higher.  The RNC will be an amplifier, if McCain is ahead or close, they will spend more and if McCain starts to fall behind they will cut their spending.

Their highest amount of spending will be in swing states with competitive local races (like New Hampshire) and areas with cheap, efficient ad-markets.

[J. J.]

The RNC is going to have to spend some money on House and Senate races though.

IIRC, they have separate funding.

Obama $77 Million plus $18 Million from the DNC.  $95 Million

McCain:  $84 Million federal in Sept., COH of $110 Million for the RNC.  Then there also McCain's COH, at least $47 million, it looks like.  That get's transferred to the RNC, the transfer didn't occur until after Sept 1.  About $240 Million.  I think McCain COH is low.

Just to make up the gap, Obama has to raise about $63 million per month.  That assumes that the RNC raises nothing.  My guess is that the RNC will raise $40-$60 million per month.  Just to get parity, Obama has to raise about $100 million per month, maybe a bit more.


 

[Lunar]

Your math is bad sir.  That 110 million already includes McCain's transfer and you ignore the DNC being able to raise money too, among other things.

[Tender Branson]

McCain:  $84 Million federal in Sept., COH of $110 Million for the RNC.  Then there also McCain's COH, at least $47 million, it looks like.  That get's transferred to the RNC, the transfer didn't occur until after Sept 1.  About $240 Million.  I think McCain COH is low.

No, the 110 Mio. already includes transfers from McCain, according to the Politico-article today.

[J. J.]

Your math is bad sir.  That 110 million already includes McCain's transfer and you ignore the DNC being able to raise money too, among other things.

The transfer didn't occur until after 9/1, which is why I'm questioning it.  It's not in the Sun-Times article.

I don't dispute the ability to raise additional money, but the DNC isn't raising a lot, and probably won't because people can contribute to Obama directly.

[Tender Branson]

Another observation:

Obama will have roughly 3.5-times the money John Kerry had to spend in 2004.

Kerry was nominated at the end of July and had 75 Mio. to spend for 12 weeks.

Obama had 66 Mio. cash-on-hand at the end of July, raised another 66 Mio. in August and maybe 130 in September and October. 260 Mio. combined.

I don't know what the DNC's and the RNC's finances were in 2004, but it`s a nice improvement.

[Person Man]

Gee.... Drudge and NYT are dead wrong. It appears that when you write Republican hackery, you turn out to be.... unreliable.

[J. J.]

McCain:  $84 Million federal in Sept., COH of $110 Million for the RNC.  Then there also McCain's COH, at least $47 million, it looks like.  That get's transferred to the RNC, the transfer didn't occur until after Sept 1.  About $240 Million.  I think McCain COH is low.

No, the 110 Mio. already includes transfers from McCain, according to the Politico-article today.

Do you have a link?

[Tender Branson]

McCain:  $84 Million federal in Sept., COH of $110 Million for the RNC.  Then there also McCain's COH, at least $47 million, it looks like.  That get's transferred to the RNC, the transfer didn't occur until after Sept 1.  About $240 Million.  I think McCain COH is low.

No, the 110 Mio. already includes transfers from McCain, according to the Politico-article today.

Do you have a link?

"That cash figure is a fraction of the $110 million a Republican official says it has, which includes transfers of money McCain is no longer allowed to spend and money from state fundraising vehicles."

http://www.politico.com/blogs/bensmith/0908/The_RNCs_cash_advantage.html

[J. J.]

McCain:  $84 Million federal in Sept., COH of $110 Million for the RNC.  Then there also McCain's COH, at least $47 million, it looks like.  That get's transferred to the RNC, the transfer didn't occur until after Sept 1.  About $240 Million.  I think McCain COH is low.

No, the 110 Mio. already includes transfers from McCain, according to the Politico-article today.

Do you have a link?

"That cash figure is a fraction of the $110 million a Republican official says it has, which includes transfers of money McCain is no longer allowed to spend and money from state fundraising vehicles."

http://www.politico.com/blogs/bensmith/0908/The_RNCs_cash_advantage.html

Okay assuming that's all of it, we'll say $110 Million in the RNC and $84 Million for McCain, or $194 million.

Obama has $77 Million with $17 Million from the DNC, or $94 million.  That $100 million is going to be hard deficit to make up in two months.

The Obama/DNC will continue fund raising, but so will the RNC.  McCain alone raised $47 million last month versus Obama's $66 million, or an Obama net gain of $19 million.  Even assuming a higher next gain of $30 million, Obama doesn't catch up by election day.

[Lunar]

Some other tidbits to consider:

1) RNC money is not the same as campaign money.  Ben Smith points out that the confusing ads last week which had to take shots at Byron Dorgan in addition to Obama are a result of the fact that the RNC is bound by campaign finance rules.
2) For said reasons in #1, it's a lot better strategically to have Obama be loaded and assist the DNC than the opposite.  Money can be spent more effectively in that imbalanced scenario.
3) A lot of money can be spent early on organization and groundwork, that money, if already spent by the Democrats, would no longer be in the official numbers but still would be present in assets - their organization's strength.  Think about it, if I just bought a mansion, I might have less cash on hand afterwards than someone else, but it doesn't mean I'm poorer.
         I don't know what their respective spending habits though, so I don't know if the DNC owns that house (or if the RNC does).  I'm  just saying we don't know.  The DNC did spent 28 million last month largely on the ground game, but I  don't know if that is a lot.
4) It's not a spending battle between Obama+DNC versus McCain+RNC.   It's convenient to look at things in those terms but its not really accurate.

I agree with you though fundamentally that McCain is not going to be outmatched financially.  He'll have 0 trouble getting his ads on the air.

[J. J.]

Some other tidbits to consider:

1) RNC money is not the same as campaign money.  Ben Smith points out that the confusing ads last week which had to take shots at Byron Dorgan in addition to Obama are a result of the fact that the RNC is bound by campaign finance rules.

Both Parties have other costs, obviously, but both keep separate funds for the down ticket races.

You must be logged in to read this quote.

Actually, there was not a lot of that.  First, while they can do some things, registration drives earlier on, most of the expenditures will be between now and election day.

Obama, in the next 54 days, basically what the GOP raises PLUS $84 million, just to stay even.  And by even, I mean between even (I'm being charitable) to $30 million behind.


       

[The Ex-Factor]

Why the hell does the RNC have so much more money than the DNC?

[Meeker]

Why the hell does the RNC have so much more money than the DNC?

The RNC has a top-notch fundraising operation that has a lengthy list of uber-rich donors.

The DNC tries really hard.

[Lunar]

Why the hell does the RNC have so much more money than the DNC?

Because there is a big difference from writing $100-$4,600 checks and $57,000 ones [in the case of a wife+husband].  Think about the demographics.

[exopolitician]

bbbbank!

[J. J.]

Why the hell does the RNC have so much more money than the DNC?

Basically, if I want to contribute to McCain, I have to give it to the RNC (RNC Victory Committee) at this point.  Obama can raise his money directly.

[??????????]

Why the hell does the RNC have so much more money than the DNC?

The RNC has a top-notch fundraising operation that has a lengthy list of uber-rich donors.

The DNC tries really hard.

Yeah, broke ass Soros gives only 100$ a month.