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Fundraising Truthiness from Obama Reelect

Multiply 680,000 by $69 and you get about $46.9 million. Messina’s appears to want things both ways–a record-breaking money haul AND the appearance of being a campaign “owned” by ordinary people. That may be the case to the extent that you think maxing-out donors from Wall Street, Silicon Valley and Hollywood are “ordinary people.”- Micah L. Sifry

The New York Times runs a piece today, which was actually broken last week by Micah L. Sifry at Tech President after Obama reelect’s fundraising numbers leaked.

Interestingly, it also tells us something else–of the approximately 3 million individual donors who gave to Obama for his 2008 run, so far less than 10 percent have re-upped. You can spin that two ways: either it’s a reminder that many 2008 Obama supporters have lost their enthusiasm for him (and the PCCC has garnered the names of nearly 200,000 former Obama supporters who donated $17 million and gave 2 million volunteer hours in 2008 who have pledged not one iota if he makes cuts to Social Security, Medicare or Medicaid), or it’s a big fat juicy target pool for the president’s campaign team to mine for the months ahead. Undoubtedly it is both.

But if you want to know why there’s not a primary challenge to Obama or why an Independent bid for president is impossible, Sifry notes, after Joe Raspars responded to Jim Messina’s latest fundraising announcement, which was indeed huge, the reality: Both sides have Super PACs that will be exploiting the latest loopholes in the law to raise and spend hundreds of millions of dollars, and the bulk of that money is going to come from rich people, corporations and labor unions, not small individual donors.

That’s the truth about “hope and change” 2.0 and how the U.S. presidency is bought.

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