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Minus U.S. money, Obama team presses donors
By Michael Luo and Jeff Zeleny Published: September 9, 2008
After months of record-breaking fund-raising, a new sense of urgency <read desperation> in Senator Barack Obama's fund-raising team is palpable as the full weight of the campaign's decision to bypass public financing for the general election is suddenly upon it.
Pushing a fund-raiser later this month, a finance staff member sent a sharply worded note last week to Illinois members of its national finance committee, calling their recent efforts "extremely anemic."
At a convention-week meeting in Denver of the campaign's top fund-raisers, buttons with the image of a money tree were distributed to those who had already contributed the maximum $2,300 to the general election, a subtle reminder to those who had failed to ante up.
The signs of concern have become evident in recent weeks as early fund-raising totals have suggested that Obama's decision to bypass public financing may not necessarily afford him the commanding financing advantage over Senator John McCain that many had originally predicted.
Presidential candidates in a general election have typically relied on two main sources of money: public financing, along with additional money their parties raise. In choosing to accept the public money, the McCain campaign now gets an $84 million cash infusion from the United States Treasury <84 million in one fell-swoop, nice!>. McCain is barred from raising any more money for his own campaign coffers but can lean on money raised by the Republican National Committee, which has continued to exceed expectations.
Meanwhile, Obama campaign officials had calculated that with its vaunted fund-raising machine, driven by both small contributors over the Internet and a powerful high-dollar donor network, it made more sense to forgo public financing so they could raise and spend unlimited sums.
But the campaign is struggling to meet ambitious fund-raising goals it set for the campaign and the party. It collected in June and July far less from Senator Hillary Rodham Clinton's donors than originally projected <surprise>. Moreover, McCain, unlike Obama, will have the luxury of concentrating almost entirely on campaigning instead of raising money, as Obama must do.
The Obama campaign does not have to report its August fund-raising totals until next week, so it is difficult to tally what it has in the bank at this point. A spokesman said that August was its best fund-raising month yet and that the campaign's fund-raising was on track. But the campaign finished July with slightly less cash on hand with the Democratic National Committee compared with McCain and the R.N.C. The Obama campaign has also been spending heavily, including several million more than the McCain campaign in advertising in August.
A California fund-raiser familiar with the party's August performance estimated that it raised roughly $17 million last month, a drop-off from the previous month, and finished with just $13 million in the bank.
Still, the Obama campaign said last Thursday that it had raised $10 million over the Internet in the 24 hours after the speech by McCain's running mate, Governor Sarah Palin, at the Republican convention on Wednesday, a one-day record for the campaign.
Members of Obama's national finance committee were briefed during the convention in Denver by David Plouffe, the campaign manager. Penny Pritzker, the Obama finance chairwoman, announced new state-by-state fund-raising goals. The decidedly business-oriented nature of the meeting reflected the burden on the Obama campaign in the coming weeks.
"I think McCain made the right call," said Scott Reed, a Republican strategist who managed Bob Dole's presidential campaign in 1996. "The Republican National Committee is strong. They have the resources to make this race almost financially on par."
The McCain campaign had by far its best fund-raising month ever in August, when it collected $47 million for its coffers and $22 million for the party, finishing the month with more than $100 million in the bank that will now be at the disposal of the R.N.C., according to several finance officials.
McCain fund-raisers said they also hope to raise an additional $100 million for the party in September and in October, taking advantage of the sizable contribution limits for the party. The party's Internet fund-raising has also picked up significantly since the announcement that Palin would join the Republican ticket. Combined with the $84 million from public financing, that would leave the McCain campaign with about $300 million at its disposal.
http://www.iht.com/articles/2008/09/...a/09donate.php
