Big Donors Drive Obama's Money Edge

[onehandle]

Source: Washington Post

The record-shattering $150 million in donations that Sen. Barack Obama raised in September represents only part of the financial advantage the Democratic nominee has amassed entering the final weeks of the presidential contest, newly released campaign finance records show.

Obama and the Democratic Party committees supporting his campaign had $164 million remaining in their collective accounts entering the campaign's final full month, compared with $132 million available for Sen. John McCain and the Republican Party.

The advantage is compounded by Obama's ability to continue to raise money through the election because he decided not to participate in the federal financing program. McCain opted in, meaning he received $84.1 million in federal funds to spend between the Republican National Convention and Nov. 4, and he must rely solely on the Republican National Committee for additional financial support.

Behind Obama's staggering fundraising numbers, compiled on more than 80,000 pages filed with the Federal Election Commission late Monday, are signs that it was far more than just a surge of Internet donors that fueled a coordinated Democratic effort to try to swamp McCain.

Interest among major party donors grew so fevered that the Democratic Party created a separate committee to capture millions of additional dollars from individuals who had already given Obama the most the law allows and who had also anted up $28,500 to the Democratic National Committee.

Read more: http://www.washingtonpost.com/wp-dyn/content/article/2008/10/21/AR2008102102996.html

[kirby]

1. Funny how...

It looks more and more like Obama may win and all of a sudden the big corporations want to donate.

[hedgehog]

2. I think the headline is misleading. As near as I can figure out, the article

describes money given to the Democratic Party in addition to the $1.5 million Obama raised this month. The Party's money can be used for Obama and for down ticket races.

Also buried in the text is while people can donate to the Party to support Obama, others can support to the Republican PArty to support McCain in addition to the public monies he is receiving. I think some of the robocalling is done directly by the Republican Party rather than by the McCain campaign.

[bemildred]

3. Yeah, they are kind of spinning..

And for no apparent reason too ...