Obama Has $500 Million To Spend On Campaign

Bloomberg:

Barack Obama's record-breaking September fundraising puts him on track to have as much as a half-billion dollars for the general election, or almost double the resources of Republican opponent John McCain.

Obama, the first major-party nominee to shun public funding for the general election, reported taking in $150 million in September, the most ever raised by a presidential candidate in one month and more than twice as much as his previous record of $66 million in August.

He entered September with $95 million in the bank. Combined with the $50 million raised by the Democratic National Committee, which can be spent on his behalf, Obama brought in another $200 million last month. Political observers expect him and the party to at least match those figures in October, giving Obama around $500 million for the two-month campaign ending with the Nov. 4 election.

Read the whole story: Bloomberg

Comments

[BOin08]

We've done well is raising huge sums of money-way more than past campaigns, but none of it, I repeat, none of it is traceable back Muslim nations, so just stop the rumors--jeez.

[fistbump]

Please, someone fire the HuffPost headline writer.

[JUSTME]

WRONG. That's $500 million AND $25.00.

[klondiker]

I don't want us Democrats to get complacent, which is why I will point out that the figures are not $500 million vs. $47 million, as a HuffPost headline this morning seemed to imply. The $500 million figure is for both September and October, including money on hand at the beginning of September, plus what the DNC raises.

Similarly, McCain had about $103 million on hand at the beginning of September, plus the $84 million from public financing, plus what the RNC will raise. That puts McCain's total to somewhat close to $300 - $350 million.

So, the money race is more like $500 million vs. $350 million, which is still a HUGE advantage for Obama. But, don't forget that the RNC generally raises more than the DNC, so that gap could be narrowed. Plus, McCain also has a bunch of sleazy 527s batting for him.

Bottom Line: Obama has an advantage when it comes to money, but let's not allow that to make us complacent.

[QM2008]

Unless I'm reading the Bloomberg article incorrectly, it seems to me that the title of this Huffington Post article is misleading. The Bloomberg article says that he has about 500 Million to spend for the two months of the campaign, September and October. The Huff post blurb and title seems to imply that he has $500 Million now on hand to spend over the next two weeks. That's a huge difference.

[GuyFawkes]

Obama seems to be adapting the Powell Doctrine of using overwhelming force to win a war. Andrea Mitchell said yestrday on MTP that Obama's bought up all the ad times on TV. There's nothing left, she reports, for McCain to even buy, even if he had the money.

[honeydiva]

isn't it odd that this paragon of objectivity is constantly crying over the unfairness of everything against 0ld. she's even showing her hatefulness more blatantly lately. she's a joy to behold. go ahead... explode witchell...lol

[GuyFawkes]

He HAS to win now. Too much in his favor: money, wrong track number, a dead GOP party, etc. He CANNOT lose.

That, in itself, is a ton of pressure.

[walk0nwalls]

This means I can stop donating now, right?

I mean, win and all but my god my e-mail's been spammed ever since October started.

[BabsfromKansas]

Well, I am going to celebrate on Nov 5 by buying new pair of shoes!!! My clothing budget has all gone to Obama!

[JPHR]

Guess that if you eliminate corporate and lobby funding the difference with McCain will even be wider.

Because only citizens are allowed to vote, why not change campaign donation law to allow only citizens to donate and apply a low limit like US$250 to US$500 for each citizen.

That would eliminate a lot of corporate meddling with the political process.

[bitabingbitabangbitaboom]

YO YO YO it`s a 1st Amendment thing.........................you don`t have to accept the money the K.Streeters give you!

[TheQuestion]

Obama better keep some of that money aside for the legal battles over voting that may occur after the election.

[Grunty1]

He has shown himself to be a forward planner. I'm sure he will think to do so.

[TheNuff]

I'm sure he has already done that. This man is no slouch.

[Wadadli Flame]

For the people, by the people.

[PCRX]

WOW!!! And I will donate AGAIN here this week!!! It is my investment in Obama Stock!! An investment that in this economy is one of the only left that makes sense!!

[grizhead63]

Give till it hurts, then give till it fills good. Obama and the Dems will need all available resources going into these last two weeks. The rightwing hatemachine is running 24/7.

[Shashi0224]

I give with every pay check. I give more the nastier the Republicans get. I hear that same thing from all my friends....so Republicans, your negativity is destroying your party and helping Barack!