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Obama’s June money haul - stay tuned

Fri, Jul 11, 2008

Politics

WSJ’s claim that Obama only raised $30 million in June is being disputed by the Obama camp.  That’s good.  On a number of levels.

First, the only reason $30 million in a month is “underwhelming” is that Barack Obama has raised the bar so high.  Either way, that’s a massive number.  Second, that’s not the number.  The real number is apparently higher.  And third, how great is it that the WSJ does Barack a favor by lowballing the number?

There’s been some consternation that the FISA-driven whining is driving down some online money.  Possibly.  But even if you accept that the main base of donors, i.e. online lefties, are sitting still right now (and I don’t), one would certainly expect a slowdown, given the long primary, donor fatigue in the base, and Hillary money issues still outstanding.  And yet, Barack has raised over $30 million in June, a figure Barack’s campaign calls “way off the mark”.

Make no mistake - Barack’s refusal to enter the public financing system really was a gutsy move.  The bet is that whatever slowdown online may occur in the lefty base, be it over FISA related whining, or any other moves to the center, it will be more than made up for by non-base givers, who have probably never given to a candidate online, maybe to a candidate EVER.  That’s a huge bet.  But if it pays off, I imagine the haul will dwarf the online giving from the base.  October’s numbers, as Obama becomes ever more accepted by the country as a whole, could be astronomical.

The lefty blogosphere donor base is well-oiled, used to giving, and not nearly tapped out, true.  But in relation to the nation as a whole, the lefty blogosphere donor base is miniscule.  If Barack can crack that nut, $30 million in a month will look like child’s play.

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3 Comments For This Post

  1. Scott Pullins Says:

    Remember just a few years ago when candidates raised $30 million over an entire presidential cycle?

  2. Eric Says:

    $30 million in a month has already looked like child’s play. He raised nearly double that during the primary battle. The real question is will the steady decline continue or begin to trend back up. It needs to trend back up to allay fears of those who think his GE moves have been unwise.

    My guess is the numbers will begin to trend back up again and (as you indicate) blow us away in the fall. I know I’ll be revisiting the donate page. Maybe we can get Scott to join us?

  3. Scott Pullins Says:

    A few more bonehead remarks from Phil Gramm and I won’t have any choice.

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