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

Obama's gamble pays off

[cnn-photo-caption image= caption="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. Jerry

    Money is free speech according to Republican Senator Mitch McConnell.

    December 5, 2008 01:57 pm at 1:57 pm |
  2. Jeff from Atlanta

    Just proves everything is for sale, including the Presidency!

    December 5, 2008 01:59 pm at 1:59 pm |
  3. ss

    Sarah Who??????????????Plezzzzzzzzzzz

    December 5, 2008 02:01 pm at 2:01 pm |
  4. Ron.Toronto. Canada

    You Repubs.should get over it. The man has a brilliant mind. Good
    looking and a great personality. Good family man and father.
    I wish for all the world that he was our Priminister. I would'nt care if he was a Marxist.He loves his country and that's all that matters.He will get you out of this mess which will also benefit Canada.

    December 5, 2008 02:03 pm at 2:03 pm |
  5. Robert - a Virginia blue dog

    I donated money, I bought collectibles from his online store, I financially supported "Artists for Obama", and I purchased both of his books. My son was a first time voter for Obama, and my daughter volunteered in the local office. I endured having the kindly local 'pubbies steal a campaign sign out of my yard. I just replaced it and put a camera and DVR on it 😉

    In the end it was worth it as we captured the Presidency, and now Virginia has two Democratic senators and my own US Representative is also now a Democrat. Barack Obama ran one of the greatest, most historic, and might I add, timely presidential campaigns ever. The new administration will hit the ground running. Things are going to change rapidly next year.

    December 5, 2008 02:11 pm at 2:11 pm |
  6. James

    Nurul Aman December 5th, 2008 1:21 pm ET This remarkable fundraising model is not only unprecedented in the history of modern democracy, but also reflects the power of the citizens who really cared about the value of President-Elect Obama's strong leadership with his intelligence and eloquence for bringing change to America///////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
    That is such BS............ Nobody believes that all of this money came from concerned citizens. Funny how dems will criticize Repubs for something then justify it when it is of their benefit. This excessive in-balance of funds is bad for the process. Obama=Lie

    December 5, 2008 02:11 pm at 2:11 pm |
  7. MBuvia Greenwood,IN

    A lot of people donated money-like some at work and my sister-thousands of little doners-but it is not the end of public financing-most candidates will not have Obama's appeal and will have to use public financing

    December 5, 2008 02:13 pm at 2:13 pm |
  8. Neiki

    Imagine that...a President who knows how to finance America. What was all that hype during the election that he had no experience? Man, I take actual knowlege & wisdom of finance & budgeting over experience anytime!! Try this on for size, Gov. Paliin. HA!! You're not even in the same league as President Elect Obama.

    December 5, 2008 02:14 pm at 2:14 pm |
  9. Ex-Republican

    I'm so mad that Obama is smart and makes decisions that have great outcomes! It pisses me off that we are going to have a leader that is willing to ammend his policies in pursuit of a better outcome. Someone who compromises in order to achieve success. It's down right UN-american to actually make smart decisions!

    Next thing you know, he'll start making progress!'s so frustrating!

    December 5, 2008 02:14 pm at 2:14 pm |
  10. Dixie

    The last 8 years tells us that the Republicans don't know how to manage money. Example from the campaign : $150,000 (+ another $30,000 just reported) for clothing for the Palin family. I hope the days of money from taxpayers to fund any party campaign are over.

    December 5, 2008 02:15 pm at 2:15 pm |
  11. Venkat

    To all those mourning the "death of public financing" –

    Q. Where do you think the $750M came from?
    A. The American Public

    I rest my case.

    December 5, 2008 02:15 pm at 2:15 pm |
  12. Tim

    Moderator, how is the poo-poo butter and jelly sangwich?

    December 5, 2008 02:17 pm at 2:17 pm |
  13. G

    From the June 20th NY Times Article "Obama Obama Forgoes Public Funds in First for Major Candidate"

    "In fact, Mr. Obama stopped short of making a flat promise to participate in the public financing system. Asked in a questionnaire whether he would take part if his opponents did the same, Mr. Obama wrote yes. But he added, “If I am the Democratic nominee, I will aggressively pursue an agreement with the Republican nominee to preserve a publicly financed general election"

    Just some food for thought. 🙂

    December 5, 2008 02:18 pm at 2:18 pm |
  14. Malcolm

    POWER TO THE PEOPLE!!!!!!!!!

    December 5, 2008 02:18 pm at 2:18 pm |
  15. Don in Florida

    Will everyone who didn't vote for the best man in this elelction (he won by the way) please sit back and take a chill pill because....President Barack Obama is going to show you how a real president operates and runs a country. If the Right Wing wants to continue to send up good ole boys then this is what's going to happen to them going forward. Stop being anti intellectual. I for one really would rather have someone very intelligent running my country not someone i can sit down and have a beer with. President Obama will be the best president we've had in a very long time. Sit back, watch, relax and enjoy the show. It's going to be great!

    December 5, 2008 02:21 pm at 2:21 pm |
  16. xcusme

    Good for him. I feel better that the person in charge knows how to rasie money. For those who hate stop and appreciate what he was able to do. Maybe he will be able to help put this country back on track. It takes a smart person to do that. Not some C student cheerleader with big daddy keeping him out of trouble.

    As far as the other party. I hope they like the way Sarah looked. At least my money help put the guy I wanted into office. Repubs your money made lipstick look good on the pig.

    December 5, 2008 02:22 pm at 2:22 pm |
  17. E

    He saved the federal gubment 84 million dollars, Isn't that a GOOD thing?

    December 5, 2008 02:23 pm at 2:23 pm |
  18. jesuino leduino rosa

    and in the future cont on me!!!!!!!!!!!!!!!!!!!!

    December 5, 2008 02:24 pm at 2:24 pm |
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