December 5th, 2008
09:23 AM ET
6 years ago

Obama's gamble pays off

Obama's campaign brought in nearly $750 million dollars.
Obama's campaign brought in nearly $750 million dollars.

WASHINGTON (CNN) – He’s the three-quarters of a billion dollar man.

Barack Obama's presidential campaign hauled in nearly $750 million dollars during this very long and historic campaign for the White House. That's more than twice what his opponent, Republican presidential nominee John McCain, raised and it's more than what George W. Bush and John Kerry combined raked in during the 2004 presidential campaign.

In a report filed with the Federal Election Commission Thursday, the Obama campaign reported spending over $100 million during the final few weeks leading up to the November 4 election, far more than McCain.

Obama opted out of taking public funds during the September to November general election period, becoming the first candidate for president to opt out of public financing since the system was created in the 1970s. Obama gambled that he could raise more money than the $84 million McCain received in public funds. That gamble apparently paid off.

Some other numbers: The Obama campaign raised $104 million in the five weeks leading up to and just after Election Day. And as of November 24, the last day included in this report, the Obama campaign had nearly $30 million left in the bank.


Filed under: Candidate Barack Obama • FEC • John Kerry • John McCain • Uncategorized
soundoff (268 Responses)
  1. Mr. Smith Former Republican

    Seven Words and I quote "Build a bridge and get over it" end quote.
    Don't hate the player...hate the game...fools....

    December 5, 2008 12:38 pm at 12:38 pm |
  2. saidy ceesay

    Barack is a good for the whole world. He is the best choice for the US. He will bring good things to the world. Let us all work with him and be patient.

    Yes we can

    December 5, 2008 12:38 pm at 12:38 pm |
  3. Evan in Chicago

    Let's hope President-Elect Obama and his team will be able to use their magic on our economy or none of us will have much on hand to donate in the next election. Good luck Mr. President-Elect!

    December 5, 2008 12:41 pm at 12:41 pm |
  4. michelle davenport

    Give the man a chance.

    December 5, 2008 12:43 pm at 12:43 pm |
  5. Ed from Wisconsin

    Thank God, we have a President that is fiscally responsible and knows how to manage money. I’m glad Obama opted out of public finance, voters like my self were enthused about his candidacy and giving money consistently through out the campaign. Furthermore, realistically the right wing nuts had no chance of winning the oval office, especially when Mc Bush brought in his counter part from Alaska. The race was over at the republican convention, funny the right wing nuts actually thought they had a chance.

    Obama/Biden 08
    God Blessed America

    December 5, 2008 12:45 pm at 12:45 pm |
  6. Debby

    Good now why not use that money to help the economy instead of bragging about it.

    December 5, 2008 12:46 pm at 12:46 pm |
  7. Peter (CA)

    Mike in Syracuse...

    Obama discussed accepting public financing with McCain and they had a preliminary agreement. But, nothing was signed.

    December 5, 2008 12:47 pm at 12:47 pm |
  8. James

    All of you people are sick and need to worry about others things – like real problems!

    December 5, 2008 12:47 pm at 12:47 pm |
  9. Robert of Long Island

    He will be an historique president...

    not because he is Black. Because the chagnes that he will bring and the contrast between him and the current Bush-CHeney administration.

    billions of dollars borrowed from the China and other foreigners to finance a war that has nothing to do with the war on terror, over 4000 died. 4000! unbelievable.

    we have economic, foreign policy, education issues

    Obama is the man! we voted for the right one! America has spoken and 365 electoral votes went to only qualified out of the two

    Viva Obama!

    December 5, 2008 12:47 pm at 12:47 pm |
  10. Michael J, Toronto

    Barack Obama KILLED public financing. Does ANYONE think a Republican will go back to public financing after Obama's record haul?

    December 5, 2008 12:49 pm at 12:49 pm |
  11. Otto

    Anyone who does not like Obama's idea of raising money can do themselves a great favor and jump off a bridge.

    I like millions who gave to his campaign did so because we knew the deep crap we are facing and the economic crisis we are in.

    We need someone who is smart, someone who will think about the little people and not just a few rotten rich folks.

    All the CEO's who received hundreds of millions over the past few years are in hog's heaven while the average workers are in the unemployment lines.

    If you ask me; I'd give more just the make sure the changes Americans need will be fruitful come January 20th.

    While we are on this subject; people should note that the 1/3 billion was spend RIGHT HERE IN AMERICA employing people and food on the table of Americans. That 1/3 billion dear friends was well spend AND many of those same employees are without a job today.

    December 5, 2008 12:49 pm at 12:49 pm |
  12. Robert of Long Island

    good judgment is back

    leadership is back

    scicence will return to the US!

    the U.S. is back!!!

    We are back my fellow Americans!

    hopefully we will not see as warriors and arrogant fools

    but the leaders that we once were!

    December 5, 2008 12:52 pm at 12:52 pm |
  13. J. Barrett

    While I'm glad that Obama won, how great would it be if we could raise this kind of money for other projects. Why can we raise 3/4 of a billion that quickly (and easily?) but not in other areas. I think that says something

    December 5, 2008 12:52 pm at 12:52 pm |
  14. incredible

    Some of you don't get it. The money left over from this goes into his war chest. That chest will allow him to run in 2012. In case people can't give as much next time as much as they did this time.

    They're still asking for money because they don't to have to touch that money for Hillary fund. Make sense?

    December 5, 2008 12:54 pm at 12:54 pm |
  15. energy

    HE BOUGHT THE PRESIDENCY WITH FAKE DONATIONS

    December 5, 2008 12:55 pm at 12:55 pm |
  16. dmjakers

    Well, Republicans are still complaining about Obama's money, but at least he managed his money well, finishing with $30 million cash in the bank. Now THAT'S fiscal responsibility.
    McCain's campaign went bankrupt in the fall of 2007, long be the primaries. Clinton barely finished the primaries and ended up over $22 million in debt. I'm glad they won't be in charge.
    What's really awful - well, one of many terrible things - is that the GOP spent hundreds of thousands of dollars on Palin but she still didn't look great. Certainly, they should demand a refund on that hair thing.
    Remember, everyone who criticizes Palin is only doing it because she's a woman. Nobody would say anything if a man did all those things. Not only does she say that with a straight face, but many of the Fox Noise Zombies - I mean 'viewers' believe it.
    But it's okay, because they're donating all the clothes to charity - evidently the homeless.

    December 5, 2008 12:56 pm at 12:56 pm |
  17. Coherent1

    Are you such an abused people, that when a leader demonstrates a true interest and faith in Americans, you accuse him of being the great evil? So much so, that some of you will make up lies to defame him. Reminds me of an abusive relationship when the abusee refuses to let go of and protects the abuser. Snap out of it! The wrong choice was made twice, people, TWICE! Let go of your abusers and their abusive tactics. Free yourselves, and your enslaved mindsets. The people voted for and funded this new president. Yes, US, the people. The game just changed, so join US!

    December 5, 2008 12:57 pm at 12:57 pm |
  18. kathryn

    if obama "BOUGHT" the white house then i guess the American people paid for it right? Is that not what elections are about? The people spoke. let it be. in 4 years you can donate to your candidate and vote

    December 5, 2008 01:00 pm at 1:00 pm |
  19. Giovani Fereira

    Why is public money funding these people....they should raise their own money or have other people do it instead of the regular tax payers footing th ebill. Our world is nothing but a big scam. We pay half our money in taxes then we have to pay taxes on the little interest we gain...we get ticketed for parking on the street...for littering....for speeding...why don't you just take 90 % of our money kinda like an allowanceand keep they rest cause you gonna tax the hell out of us...and don't say see that is why you should have gone republican...no even worse....cause the money in tax breaks they continually give the big giant elite companies also comes from my pocket. What we have to realize is that we are being ripped of....we are being tricked cause with AMerica we have always had an enemy....like the one we created in Korean when we claimed they shot at us when we really shot at them. The general in charges admited this before he died....we are pathetic as humans in generals alway claming others...yet we steal and plunder small countries (again not us but the elite that countrol our society...we are supposedly civilized yet our country was built on the back of slaves and the genecide of the native population....we don't use that same rationale when it comes to Palestine...funny isn't it....but then again if we ever turn the TV and think how these governments or elite rich people had ripped us of...we may duplicate the same thing the Canadians did to the white house a cetury or so ago....cause I believe the forefather left Europe to elude the elite rich of controlling us but it has happended again....look at Kerry and Bush higlighting their blue blood in the 2004 election...aren't these the same idiots we got rid of....the only difference is now it rotates amongts their families....I'm sure Obama has some disttance relative that was royalty in some European country. ALL I"< SAYING IS WE WERE DUPED PEOPLE THES RICJ PEOPLE ARE TAKING EVERYTHING AWAY FROM US AND WE DON"T REALIZE IT

    December 5, 2008 01:01 pm at 1:01 pm |
  20. RCLGuard

    I donated. Proudly. Three times.

    December 5, 2008 01:01 pm at 1:01 pm |
  21. Stan

    I think the previous comment says it all. President-Elect Obama's was well organized and transparant. I was grateful to receive email messages from his campaign. I felt connected.

    Time to move on from this and focus on the present and future. Many families and individuals are suffering due to the economic mess that was allowed under the past administration. Our country will overcome and be proud again. Be patient change is already in place.

    December 5, 2008 01:02 pm at 1:02 pm |
  22. C

    CAN I GET A LOAN!!!

    December 5, 2008 01:03 pm at 1:03 pm |
  23. Adam

    Can we talk about something more important to this country

    December 5, 2008 01:05 pm at 1:05 pm |
  24. Lailasmom

    Well, well, well...I'm glad he did and happy that my little $150 that I contributed, helped!

    December 5, 2008 01:05 pm at 1:05 pm |
  25. Aaron

    It's unbelievable what some of you think. I donated $50 proudly. So did my mother and brother. There's a $150 of it. Use your small brains and think about it this way...almost 67 million people walked into the voting booth to cast their ballot for Obama. If each one of those individuals donated $12 that would give him just under $800 million. Would $12 cause you to go bankrupt? Would you invest $12 in something you believed would put the US in a better position? Be realistic people.

    I voted for Bush in 2000 because I believed he would be good for America...turned out to be a big turd though. So I voted for Kerry in 2004 (even though he ran a weak campaign). If Obama turns out to be a bad president, you can vote for someone else in 4 years. We survived, although barely, after 8 years of Bush. It really can't get much worse than it is now. I honestly believe that some of you just can't get past the fact that a black man is president of the USA. We're not to far removed from segregation. A lot of people still believe that black are inferior. It's just that no one has wanted to face it but now it's out in the open. And yes, I'm a white male. It's time that we learn to move on from this divide and learn to love. Everyone, please stop judging others!

    December 5, 2008 01:07 pm at 1:07 pm |
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