Could Obama raise a $1 billion for his 2012 reelection campaign?

Chris Cillizza at The Washington Post asks an intriguing question:

Will President Obama be the first billion-dollar man?

He raised and spent $750 million in the 2008 campaign, and there is already speculation that the cash-collection operation for his 2012 reelection bid will crest the once-unimaginable sum of $1 billion raised. (That's a one and nine zeros. Nine!)

“It's not unrealistic at all, given the amount raised and spent in 2008 and the amount Republican interest groups and 527s will spend against him,” said a former Obama administration official.

Cillizza makes a number of interesting observations about Obama's fundraising potential, but doesn't really address one big elephant in the room: Small donors. In 2008, Obama raised 49 percent of his money in “discrete contributions of $200 or less.” Given Obama's lower approval ratings, the potential for a bad economy and the fact that his election won't have all of the historic import it had in 2008, I don't know if ordinary Americans and first time donors will be flocking in droves to his campaign website to donate the way that they did in the last election.

Oh and I'm already looking forward to another round of kabuki critiques of our corrupt campaign finance laws, before Obama again announces he's again foregoing public financing in order to raise more money.

Beltway ConfidentialfundraisingObamaUS

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

Supes move to reject Breed’s picks for police oversight body, call for strong reformers

Ronen, Mar cite qualification concerns in voting against Police Commission nominees

SF public defender urges police to explicitly bar technique used in George Floyd death

Public Defender Manohar Raju is calling for policy changes after a widely… Continue reading

Protesters turn out Sunday in San Francisco for second day in a row

“To me, it’s everyone’s breaking point,” said Chris Jackson, who handed out water to fellow demonstrators.

Businesses slam proposed COVID-19 worker rehire law as too ‘burdensome’

Supervisor Mar’s legislation would require employers to take back staff at same pay

Curfew to remain in effect Monday night in SF; dozens arrested from Sunday protests

Police chief estimates as many as 6,000 took part in demonstrations

Most Read