Obama still fundraising even after taking in hundreds of millions
[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2008/images/11/18/art.bolookup1118.gi.jpg caption="Money donated to support Obama's campaign can't be used for the transition or the inauguration so President-elect Obama is still fundraising."]
(CNN) - After raising a staggering amount of money for the general election, President-elect Barack Obama must now rake in more cash for his transition and inauguration.
There is about $9.74 million of taxpayer funds available to pay for the transition, but experts say that's not enough.
To make up the difference, past presidents have turned to private money and corporate cash.
Obama's transition team, however, is taking pains to keep lobbyists out of his transition and forgo corporate cash.
John Podesta, the co-chair of Obama's transition team, has vowed to make this "the most open and transparent transition in history," but Obama has not explicitly outlined his intentions for the inauguration.
The transition team said an announcement will be made next week on how the event will be funded.
The Obama team will have to balance how to raise enough money without contradicting Obama's tough talk during the campaign against lobbyists.
"I really do hope Obama sticks by his principles and does not accept corporate money, does not accept money from lobbyists, and places a very, very low ceiling on the amount of money he'd accept from individuals to pay for his inauguration," said Craig Holman, a legislative representative for Public Citizen.
Public Citizen is a national nonprofit organization that says it advocates for consumer interests in Congress and openness and democratic accountability in government.
The group says companies sometimes contribute cash to the inauguration in order to buy influence.
President Bush raised a record $42.8 million for his second inauguration, and according to Public Citizen, more than 90 percent of donations to that ceremony were from executives or corporations.
Bush limited corporate donations to $250,000 each in order to avoid any potential conflicts of interest.
Obama could decide to accept corporate donations for the inauguration, but may impose tighter limits.
"I think past presidents have had to raise lots of private money to do these things. And I think he's actually got a good resource base of donors that are willing and probably will give money for both the transition effort, but also the inaugural campaign as well," said David Lewis, a professor of political science at Vanderbilt University and author of "The Politics of Presidential Appointments."
Even without corporate cash, the Obama fundraising machine has been a force. Nearly half of the record $639 million that his campaign raised during the primaries and general election came in the form of donations of $200 or less.
As of mid-October, the Obama campaign had spent about $594 million, but any money left over from the general election cannot go toward the transition.
The president-elect could return that money to contributors, donate it to charity, form a political action committee or contribute to other candidates, PACs or party committees, as long as he stayed within the federal contribution limits.
Obama could also hold on to the money and use it for a future federal campaign, like a re-election bid.
The public will get a better idea of exactly how much cash is on hand when the next reports are filed with the Federal Election Commission on December 4.
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Change you can believe in? lol...what a joke.
OH WOW, IT'S SO SAD TO SEE HOW CERTAIN PEOPLE CAN'T TAKE LOSING. IF YOU DON'T WANT TO COTRIBUTE, FOR GOD SAKES DON'T, PLAIN AND SIMPLE. IF YOU DON'T WANT TO WATCH ONE OF THE MOST FASCINATING AND HISTORIC TIME EVER ON T.V THEN DON'T. NOBODY IS FORCING YOU, WHY DON'T YOU HIBERNATE FOR THE NEXT 8 YRS. WE WILL WAKE YOU UP, BUT THEN THE TORCH WILL BE PAST TO A NEXT DEMOCRATIC PRESIDENT, SO BETTER YET YOU HAVE TWO OPTIONS SUCK IT UP NOW OR MOVE. LOL...........
well, well.
Where is Joe the Plumber? we can take money from his plumbing business, thats right he doesn't own one. He can donate the money from his bank account, thats right, he owes the IRS. We can ask Sarah P, thats right, I can see Russia from my house. We can ask John and Cindy, thats right, they are sore loosers. GOT IT. Have John and Cindy hire Joe and joe can finaly make a donation. Join the team Joe, I promise it feels good.
iF 9 MILLION IS NOT ENOUGH, THEN LET THE 96% OF BLACK VOTER'S THAT SUPPORTED OBAMA PAY THE REST.
I must admit that the only reason I voted for Obama is because I need supplemental income. I am ill, I'm an alcoholic and am unable to get a good job. Alcohol can be very expensive and Obama will help me with my expenses. I will have a free check in the mail every month, he is the best President in the world. My hero!
Im Going To Donate Just So I Can Hear More Republicans Cry About It!
Laverne
Obama does everything big alright, LET'S SEE HOW BIG HE WILL RAISE YOUR TAXES.
Money, Money, Money!! Doesn't it seem totally stupid that 9 million dollars isn't enough money to go 60 days for transition and swearing in to the Presidency.
I need $10 to pay for all the little things that come up in my everyday life like Milk, bread, gas. I can't afford to keep giving and giving. I'm not the Energizer bunny who keeps going and going and going.
Obama needs to find another way since people are hurting in this global recession.
To Brenda C...
What an insult to millions of ordinary people in the US (including myself) that were happy to contribute to President-elect Obama's campaign by paying whatever they could afford, as much as $20 or even less. Get the facts before accusing innocent people.
The nation is in a state of economic crisis and that means EVERYONE needs to start tightening their belt and avoiding luxuries.
This includes our Government and ALL POITICIANS!
As an Obama contributor I was really angered by the fact that some of our hard earned money was given away as bonuses to staff members. There were many people like myself who donated $10 to $20 at a time because that is all we could afford. Finding out that our donations were just given away as bonuses was an eye opener and it made me question any further political contributions
The excess money could have been used to help people in need, God knows there are millions of us around this nation.
The Inauguration Plans should equal the state of the economy.
The amount of money and hype on the Inauguration is only starting to anger us and make us wonder if Sen. Obama is going to follow up on his promises.
We are struggling to keep food on our table and it is an insult to us to see all this money wasted on a HUGE PARTY!
Why is Obama giving so many of the jobs to Clinton's people? Is this going to be the 3rd. year Clinton term? Where is the change?
If anyone can do it he can. I applaud his efforts to keep the greedy pigs out of our political system. My vote for him has already been rewarded. Keep up the great work Barack!
He'll get my money!
To all haters, get over it!
President Obama's Dream is My Dream! And we have awaken!
I will be more than happy to contribute just as I did his campaign
Jo Anne November 18th, 2008 12:21 pm ET
"Where was all of this negtive thinking 8 years ago...."
It was coming form liberals toward another President-elect. Guess liberals can dish it out but can't take it.
Dan November 18th, 2008 12:31 pm ET
"Jumping on every little thing and throwing a hissy fit is not clever."
It seemed it was clever when Dems did it 4 and 8 years ago. Oh, I get it, its okay to do it if we agree with you but as soon as someone does it to 'your guy' it isn't acceptable.
Please, someone name one single piece of menaingful legislation that Obama introduced as either an Illinois State Senator or as a US Senator. I'll be waiting......because he never introduced a single piece of legislation, ever. Pretty words don't make someone a leader, their actions do.
No wonder our country is going down the tubes. Nobody has critical thinking skills anymore. They jsut believe everything they are told.
If it means big corporations will loose their stranglehold on the U.S. government, I can keep on donating weekly just like during the primary.
And to all that did not support him, I think 600 million from 3.2 million folks over 2 years pretty much shows that we do not need you to donate. No one is asking you to donate.
So put on the big girl panties, and the big boy pullups and STFU!
I think Obama will make good choices and i dislike anyone who says otherwise, but i know everyone is entitled to their own opinion
Yes, Campbell Brown did not list the ex-lobbyists.
However, the article CLEARLY stated the New York Times made the list, and a video was made which you probably didn't watch...
I suggest you take 2 minutes out of your life and search for it like a big boy or girl before mouthing off like another pathetic American that posts ignorant garbage...
OBAMA needs all the money he can get, so send him all you can,SUCKERS
He'll give it back , when he starts spreading the wealth,SUCKERS
I too will happily help MY PRESIDENT any time he asks. This will be an event for the history books and we need to do it right!
Just foam at the mouth all you want right wingers, it goes nowhere.
Bush spent an obscene amount of money on his 2004 inauguration even though many people asked him not to because of the war.
There is a protocol to this. Obama is just trying to do the right thing. Obviously, something that makes no sense to the nut jobs on here.
Rick-The original birth certificate is kept by the State of Hawaii. It is not public record. Hawaii has stated that it is genuine and certified. Copies available to family members. OK? Got it? Are we now finally done with this? Ready to move on to another smear?
Brenda-I voted for him and gave him money. Does that make me an idiot or a terrorist? Hmmm...I have a PhD so I guess it would be terrorist. Nah, I don't even like guns.
The idiots are plain to see.
@Brenda 1:00 pm: I'm not an idiot, I'm not a terrorist from a foreign country. I am an American citizen, and yes I donated money to Obama's campaign. It's about time we have an intelligent President in the White House. I will donate to an inaugural fund, too.
Petty, petty little people, that's why you aren't president of the United States, neither is Joe the Plumber, and it's a good thing too. The President of the United States must be a uniter, someone who is willing to meet with his rivals (like Hillary and John Mc). The most important mission that he/she has is to uphold the Constitution of the United States and to protect the citizens of this Nation. Neither of these two sacred duties were done particularly well by George W. Bush. Look at Obama's cabinet as it forms and you will see the workings of the mind of someone who is a great President. Not because he's a bully, or a name caller or hater like so many of you who waste your and our time on these sites, but because he understands history and that our Nation is at peril and he will do whatever it takes to preserve and perfect our Union.
Poor Obama not enough money for the inauguration, and we wanted to make history. POOR THING