Monday, July 02, 2007

Obama Breaks Fundraising Record

Barack Obama may be lagging in the polls, but he is clearly a hit with grassroot donors, setting a record for quarterly fundraising:
Sen. Barack Obama raised $31 million for his presidential primary campaign over the past three months, surging past Sen. Hillary Rodham Clinton's fundraising machine by nearly $10 million for the quarter to take the lead in contributions in the crowded Democratic field.

Among other Democrats, former senator John Edwards (N.C.) finished third in the fundraising race this quarter, meeting his $9 million goal after a last-minute appeal from his wife, Elizabeth Edwards, that played off of controversial remarks by conservative television commentator Ann Coulter. Gov. Bill Richardson of New Mexico was not far behind, raising $7 million for the quarter.

The impressive point, Obama appears to be receiving massive support from small donors:
Obama's performance was built on the strength of 154,000 new contributors, giving him well over a quarter-million donors since he started the race.

The vast majority of Obama's donors gave in relatively small amounts, the campaign said, meaning they can be tapped several more times. The average donation was $202; individual donors can give up to $2,300 under the law.

Fundraising provides organization, but it is also a powerful way to garner momentum with the media. On the other hand, Edwards relatively poor showing gives the appearance that he is falling behind. Apart from coverage, fundraising totals also tend to feed on themselves, in that potential donors in the future are influenced by current totals. If a campaign looks viable, then you can expect more money to roll in, whereas a longshot bid tends to see money dry up. The challenge for Edwards moving forward, convince people that he can compete. For Obama, this record showing counteracts the emerging opinion that Clinton is pulling away.

11 comments:

knb said...

It's interesting that every time the pudits start being somewhat negative about Obama, he pulls something out of his hat.

It's bizarre just how long their process is, isn't it? So much can happen in that time.

I like Edwards too and could not believe the Coulter comments. I suppose the good news is that she is so over the top now, she's marginalizing herself to the real loon's. I still do not understand why the MSM, gives her air time.

Steve V said...

"It's bizarre just how long their process is, isn't it? So much can happen in that time."

It's like a perpetual campaign now. I remember the last race, no one really started paying attention until right about now, the summer of 03- people were saying then, that was early.

knb said...

Perhaps it's me, but it seems tough to avoid it.

I don't remember so much coverage last time, but given the situation there, I suppose everyone is anxious.

I'll say this though, it's like a soap opera. I get fed up with watching US political coverage, not just the race, all of it. Watching Meet the Press, I sometimes think, shift a few words and this could be basically the same dialogue that I heard 2 years ago.

I feel for Americans, they are in a mess that I don't think we'll see cleaned up for a very long time. My sympathy wanes somewhat when I hear "the wo/man on the street" express such incredibly un-informed views however.

I suppose the same could be said here though.

What do you think about McCain? He sure seems to be sputtering, while "Rudy" is out there being the ultimate chameleon, and people are buying it. (For the record, I'm not a McCain fan.)

Steve V said...

I sort of liked McCain when he ran against Bush, but he is a far cry from that "maverick" now, more like the "puppet". Rudy has no appeal with the base, which might make Thompson's entry interesting.

knb said...

True, but he's already gathered "scandal" around him, and he's not even running yet, is he?

Indeed McCain lost the maverick moniker, long ago. It's funny how apparent it is from the outside, yet the ego keeps them going, coupled with their insiders of course.

He should just quit now. He's past his "sell by" date imo, too old for one thing.

That country needs new ideas, new blood. Is there anyone young running for the GOP? I can't think of one at the moment. I know that people equate wisdom with age, but there comes a point....

Steve V said...

I don't think Thompson has officially announced, but it appears to be a given.

Good point on the Republican slate, it looks like an old crowd with little enthusiasm. Apparently, Gingrich is pondering a run, which would solidify the "best before" crowd.

knb said...

Gingrich....Yikes!

Steve V said...

I wonder what Delay is up too ;)

Anonymous said...

Oprah is pushing the fund raising for Obama the same as she pushed for Bush.

Mushroom said...

Delay is selling his autobiography proclaiming the success of the Republican Revolution of --- 1994.

Also runs training sessions on how to run an effective campaign. Some of Stephen Taylor's Blogging Cons may be interested.

Steve V said...

"Also runs training sessions on how to run an effective campaign"

How to disgrace yourself might be a more credible angle :)