Obama campaign breaks fund-raising record
October 4th, 2012
11:14 PM ET
2 years ago

Obama campaign breaks fund-raising record

Washington (CNN) – The Obama re-election team raised more money last month than any campaign has brought in this election cycle, a Democratic source familiar with the fund-raising totals confirmed to CNN.

The campaign's September total is expected to exceed $150 million, the source said.

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That would top the previous monthly record of $114 million for Obama, set in August.

Officials refused to comment on campaign fund-raising numbers as the donations are still being counted.

The fund-raising information was first reported by the Wall Street Journal earlier Thursday.

Making sure each campaign has plenty of cash is key as the critical final weeks of the campaign approach - especially with a vigorous and now escalating TV ad battle ongoing in at least eight swing states.

September started with the Democratic National Convention and a well-received speech by former president Bill Clinton resulting in a bounce in the president's poll numbers. That helped solidify support for the re-election effort.

Obama is jointly raising money with the Democratic National Committee just as Mitt Romney is doing so with the Republican National Committee.

For Obama, August reversed a trend of several months in which Republicans out-raised the Democrats on the presidential front.

Romney brought in $112 million in August.

For the first time in history neither major presidential nominee is accepting federal matching funds in the general election campaign, only intensifying the chase for dollars.

One advantage for the president has been his ability to attract more small donors who can repeatedly give while the Romney campaign has drawn more large dollar contributors. Obama's campaign earlier this week announced it raised money from more than 10 million individual donors.

Romney officials have not yet indicated what their September fund-raising totals. Both campaigns have until October 20 to report their tallies to the Federal Election Commission.

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Filed under: 2012 • Fundraising • President Obama
soundoff (211 Responses)
  1. Dale

    Lets imagine if we spend all this money on education that we spend on re-election or elections we would not have a education problem. Both candidates spend too much money on their campaigns.

    October 5, 2012 04:59 pm at 4:59 pm |
  2. LT Fang

    The amount of cash needed to win an election in the US (all elections and all levels) is obscene and extremely dangerous to democracy.
    How can wealthy donors and big businesses not have undue influence in the elected officials, when those officials owe their positions to these donors?

    October 5, 2012 04:59 pm at 4:59 pm |
  3. Gurgyl

    Just vote for OBAMA12.
    Mitt is a cheat, fraud, thug....

    October 5, 2012 05:00 pm at 5:00 pm |
  4. truth hurts

    DumbasRocks [R]s - start to focus on their "lost brain".
    ========================================
    But people without brains is how Obama got elected in 2008 and hopes to get re-elected in 2012. If they do this Obama doesn't stand a chance!

    October 5, 2012 05:01 pm at 5:01 pm |
  5. ExRepublican

    We got your back Obama.
    4 more years Obama.
    We love you Obama.
    Vote Vote Vote for Obama.

    October 5, 2012 05:02 pm at 5:02 pm |
  6. Ancient Texan

    Soros will come across with a million or two every time his puppet needs another infusion to finish his destruction of America. The debate didn't go too well, so expect million dollar character assasination ads every few minutes and all of the Chicago Street Thug shenanigans that go with it.

    October 5, 2012 05:03 pm at 5:03 pm |
  7. betterdays

    "When I saw "Obama team breaks big record" on the CNN home page, I thought you were referring to the rate at which the national debt has been increasing. But I suppose you would have said "shatters" or "annihilates" if that had been what you meant.

    October 5, 2012 05:04 pm at 5:04 pm |
  8. Vet-In-ColoradoSprings

    Johnny popper: you need to get your facts straight: the Debt was $10.626T when Obama took office in 09. The tax cuts, and increases in the earned income tax credit are the reason we have more people no paying US Income Tax, Though everyone working pays into SSI, and that is regressive, since the rate is flat, and tops out after the 1st $105k. The defict exploded primarily because of all the people who lost jobs during the crash in 07-09. We paid benefits, and lost taxes. Since April of 09 there have been +700k government jobs lost.

    In the 2009 fiscal year — the last of George W. Bush’s presidency — federal spending rose by 17.9% from $2.98 trillion to $3.52 trillion. In fiscal 2010 — the first budget under Obama — spending fell 1.8% to $3.46 trillion. In fiscal 2011, spending rose 4.3% to $3.60 trillion. In fiscal 2012, spending rose 0.7% to $3.63 trillion. Finally in fiscal 2013 spending is scheduled to fall 1.3% to $3.58 trillion.

    The $90 billion was given out over several years and included loans, loan guarantees and grants through the American Recovery Act. $23 billion of the $90 billion went toward “clean coal,” energy-efficiency upgrades, updating the electricity grid and environmental clean-up, largely for old nuclear weapons sites. As of late last year, only 3 of the 26 recipients of 1705 loan guarantees have filed for bankruptcy, with losses estimated at just over $600 million.

    October 5, 2012 05:07 pm at 5:07 pm |
  9. DannyBoy

    Boom. And I know full well that my $20 didn't get him there, but when you're up against crazy....it's worth it.

    October 5, 2012 05:13 pm at 5:13 pm |
  10. DumbasRocks [R]s

    hey matt. Do yourself a favor, and stay away from terms like 'liberal' and 'conservative'. You drama-queen neo-nitwits have degraded and confused these terms beyond all accuracy and recognition. It turns out, a proud Teatard like yourself wouldn't know a true conservative if one took a nasty dump on your empty head.

    October 5, 2012 05:14 pm at 5:14 pm |
  11. Ancient Texan

    ShawnDH- There are FEWER People working NOW than at anytime since 1981. Obama hasn't created any jobs,,,,people just give up and quit looking.

    October 5, 2012 05:17 pm at 5:17 pm |
  12. a democrat

    Go OBAMA!!

    October 5, 2012 05:17 pm at 5:17 pm |
  13. Travis

    The Other Guy Running For president Gary Johnson Google him i dare ya...
    -Cut spending 43%
    -end the irs
    -end the fed
    -bring all the troops home
    -end homeland secerity
    -repel the patriot act and NDAA
    -end the war on Drugs leaglize Pot

    No wonder The media Ignores Him and washington Hates Him Hes For Freedom

    October 5, 2012 05:20 pm at 5:20 pm |
  14. Vote 2012

    Go Team Obama! Mitt Romney I mean the lying hater said the jobs report today is not enough. No Mitt Romney 1 or 2 years of your fake tax releases is not enough. American Voters are not interested in buying your snake oil sales pitches. Your pants should be bursting in flames every time you open your mouth including every step you make/liar liar your pants on fire.

    October 5, 2012 05:21 pm at 5:21 pm |
  15. DumbasRocks [R]s

    Ancient Texan - think again. The debate went just fine for my man....he stuck to the truth. On the other hand, your used-car salesman took a dump all over the stage and all over the truth and all over our fine country, and he is now being called out for all his lies. But I'm sure they're not covering that on the laughable cartoon shows you watch on FUXNews.

    Boy, just what is that smell??!! Ooops, looks like you've rushed right in and are stepping in Romney's waste. Don't forget to lick your shoes.

    October 5, 2012 05:21 pm at 5:21 pm |
  16. jack 3

    The only record they and the liberals have broken is the one of making the most excuses for losing in a 24 hr period

    October 5, 2012 05:25 pm at 5:25 pm |
  17. DumbasRocks [R]s

    truth is, truth hurts, the IQ differential between [D]-vs-[R] voters in this election will be even larger than the differential measured in 2008. Turns out, if you vote for Romney in 2012, statistically speaking, you are no smarter than the squirrels that populate the trees in my backyard. One can get a feel for this already by reading the posts on here: the consistent disconnect from reality shown by the supporters of etch-a-sketchism is a clinically diagnosable from of brain atrophy.

    October 5, 2012 05:30 pm at 5:30 pm |
  18. James

    To the comment on GE, great if they don't repsect the president. He's brought shame to the office. It was te greatest office in the world but not so much now. So now companies can't express their views... what happened to free speach.
    Not all have bought into the Hope and Dreams that Obama was elected on. He's failed! Has no idea about business or economy. Wake up, vote him out.

    October 5, 2012 05:30 pm at 5:30 pm |
  19. Vet-In-ColoradoSprings

    Matt: Interestingly it is the Republicans who elect actors (Reagan, Eastwood, Sony Bono), yet claim actors do nothing themselfs and live in a fake world. And I am against all BIG Money, but I do not expect Obama to unilateraly disarm his campaign and not take it.

    October 5, 2012 05:30 pm at 5:30 pm |
  20. kay

    obama back

    October 5, 2012 05:35 pm at 5:35 pm |
  21. Brian

    Travis wrote:
    The Other Guy Running For president Gary Johnson Google him i dare ya...
    -Cut spending 43%
    -end the irs
    -end the fed
    -bring all the troops home
    -end homeland secerity
    -repel the patriot act and NDAA
    -end the war on Drugs leaglize Pot

    No wonder The media Ignores Him and washington Hates Him Hes For Freedom

    ========================================================================

    The media ignores him because these ideas sound good in theory but would cause major problems. All of these issues need to be dealt with just not that extremely.If you cut spending by 43%, close the irs, and the fed we would slip into a depression. Getting rid of homeland security and the patriot act all together is dangerous. I'm all for bringing our troops home and legalizing pot.

    October 5, 2012 05:52 pm at 5:52 pm |
  22. phillygrl

    Let's also remember that approximately 10K boomers reach retirement each day. As these folks leave full time jobs (opting for part time or retirement) it opens up the job market. Not a liberal or conservative point..just the truth. Every part time job is not a bad thing and every person dropping out of the workforce is a negative either. There is such a thing as attrition..it just happens. Let's not get too crazy over these numbers. There is no singular reason why these numbers change. It's a combination of factors.

    October 5, 2012 06:22 pm at 6:22 pm |
  23. Kenny

    @ Dale We spend to much money on education. Every additional dollar we spend is wasted. I know of a cash strapped school district that just bought every student an iPad. Then laid off 25% of the teachers.

    October 5, 2012 07:01 pm at 7:01 pm |
  24. Joe U

    Alright! Let's move forward and let's get president Obama reelected. We can not afford a president that lies, that dismisses 47% of the Nation, a cheater on his own taxes. This guy's nose grows bigger than Pinocchio's.

    October 5, 2012 07:04 pm at 7:04 pm |
  25. Anonymous

    @truth hurts

    I know I'll be sending as much as I can to Romney. 4 more years of this insanity along with another $6 TRILLION in debt is NOT an option. Our country will not survive another 4 years of Obama. The "lost decade" will turn into the "lost country".
    -----------------------------------------------–
    You never mention the worthless Bush Administration – who caused the recession nor man-up to the Republican's obstructing all progress to recover. You can't do the math on how we got the deficit? Why people are on food stamps? Why we had unemployment? Two unfunded war and a cut & spend economy. Right-wing bigots never actually think – just repeat sound bites from Fox News.

    October 5, 2012 07:09 pm at 7:09 pm |
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