Obama Did It — He’s Achieved A Level Of Fundraising Unimagined Before This Year: $150 Million in September
[Posted By WLS]
I generally live by the proposition that I never assume someone can do something that has never been done before.
Well, the Obama campaign proved me wrong about their fundraising numbers — nearly tripling what they raised in June and July by raising $150 million in September alone. There is one critical factor that was mentioned by them in August that I think was the key to this success.
When they were continuing to raise “primary money” in June and July, they noted that they were specifically NOT asking their contributors for general fund money at the same time. A person can contriubte $2300 to each the primary and general campaign of a candidate. General fund money must be returned if the candidate doesn’t secure the nomination.
Primary money can be spent by a campaign until the candidate is formally nominated. The Obama campaign “kept its powder dry” by tapping its donors only for primary money all summer, and waiting until after the convention to go back and hit them again for general campaign funds. Given the amount they had raised in the primaries, it even half their donors came through in the first month, if was going to be a torrent of funds.
And that appears to be just what has happened. When they went to the huge fundraising database they had collected over the last two years and asked for general fund contributions, the money poured in.
The consequence of this is: we are rapidly approaching the moment when it will take a candidate $1 billion in fundraising money to win a race for the White House.
— WLS