Obama sounds campaign cash alarm

2012-06-27 10:02
AP

AP

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Miami - US President Barack Obama, renowned as a champion fundraiser who piled up $750m in 2008, warned supporters on Tuesday he would be outspent by his foe Mitt Romney in this year's election.

The president lashed the Republican for huddling last weekend at a "secretive retreat" for rich donors and chiefs of fundraising committees targeting Democrats, portraying his policies as harmful to the middle class.

"I will be the first president in modern history to be outspent in his re-election campaign, if things continue as they have so far," said Obama in a fundraising e-mail sent out to his supporters.

"We can be outspent and still win - but we can't be outspent 10 to 1 and still win."

Obama's e-mail came as he wound up a two-day campaign and fundraising swing through New Hampshire, Massachusetts, Georgia and Florida, reportedly set to raise up to $5m for his election war chest.

In one event on Tuesday, Obama appeared in the plush Miami Beach residence of a telecommunications executive and his wife, as around 30 guests chowed down on cuisine from a top chef after paying $40 000 per head to attend.

Important advantage

Since clinching the Republican nomination, Romney has set about building a formidable fundraising machine, which he will use for a torrent of political ads and get out the vote efforts.

His haul, which some pundits think could hit up to $800m will erase the huge money advantage Obama enjoyed over the Republican candidate in the 2008 general election race, John McCain.

In May, Romney overtook the president in monthly campaign fundraising figures, piling up $76m dollars over the month, compared to the more than $60m by the incumbent Democrat.

Romney is also set to reap an important advantage from allied big money political action committees known as Super-PACS, which thanks to a controversial Supreme Court ruling can raise unlimited funds.

One report by the Politico newspaper estimated that Super-PACs backing Romney and Republican candidates could spend as much as $1bn attacking Obama and fellow Democrats.

The Obama campaign, which argues that Romney would favour rich friends and big business in his policies as president to the detriment of the middle class also raises alarm about the identity of the Republican's donors.

Individual donors

"The Romney campaign raises more than we do, and the math isn't hard to understand," Obama said in the e-mail.

"We raised almost three-quarters of our money from donors giving less than $1 000, while Mitt Romney's campaign raised more than three-quarters of its money from individuals giving $1 000 or more."

Romney's campaign said that 93% of the May donations to his campaign - more than 297 000 of them - were $250 or less. Those donations raised $12m out of the total.

Obama pulled in far more individual donors, however, at 572 000, with 98% of them giving less than $250.

The president told supporters in Miami on Tuesday that Romney would use his cash bonanza to distort his record in what is shaping up as a knife edge election on 6 November.

"The other side will spend more money than at any time in United States history on negative ads that have a very simple message - that say the economy is bad, and it is all my fault."

Last chance

Despite spending two days on the road campaigning, the US president rapped Romney for sitting down last weekend at a retreat with wealthy fundraisers in Park City, Utah.

"I've got other responsibilities I'm attending to," Obama wrote.

Obama's e-mail was part of a blizzard of money shots fired out by campaigns as the latest end-of-month fundraising deadline loomed.

Campaigns compete fervently to top one another in month by month fundraising, as their figures are seen by the media and pundits as a key metric of the state of the race and the appeal of candidates.

In other appeals on Tuesday, First Lady Michelle Obama told supporters they had one last chance to offer a donation and have the chance to take part in what have become regular dinners for supporters with her and her husband.

"Thanks for everything you're doing. Every little bit makes a difference," she wrote.

The Romney campaign meanwhile asked small donors for up to $3 for a chance to win a ride on the candidate's campaign bus.

Read more on:    michelle obama  |  barack obama  |  mitt romney  |  us  |  us elections 2012
NEXT ON NEWS24X

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
2 comments
Add your comment
Comment 0 characters remaining
 

Inside News24

 
 

Zuma: Pray for peaceful polls

President Jacob Zuma has asked members of the Universal Church of the Kingdom of God to pray for peaceful elections on 7 May.

 
 

Latest elections multimedia

Why Jack Parow wants you to vote on 7 May
The ad the SABC doesn't want to air
Elections 2014 in one cartoon
This year's election posters
 
Traffic
Lottery
 
  • Saturday Cape Town - 07:38 AM
    Road name: M3 Inbound
    EVENT - left lane closed between Rhodes Avenue and UCT
  • Saturday Constantia - 07:19 AM
    Road name: Rhodes Drive Both Ways
    ROAD CLOSED between Constantia Nek and Canterbury Road until 1300
 
More traffic reports...
 

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Escape winter, head to Mauritius

Escape winter by spending 7 nights in Mauritius' tropical bliss from R13 215 per person sharing. Includes return flights, airport transfers and accommodation. Book now!

Kalahari.com - shop online today

Get many eggs in one basket!

Gaming bundles: 2 Super Hits games for R99, 3 Disney games for R99 and more + exclusive accessory bundles only available on kalahari.com. While stocks last. Shop now!

25% off bestselling books!

The Real Meal Revolution by Tim Noakes, Jeffrey Archer’s Be Careful What You Wish for, Man’s Search for Meaning by Victor E. Frank and many more titles. Shop now!

Up to 25% off electronics

Buy top electronics and save up to 25%. Such as kalahari.com’s 1# selling product the gobii eReader, Patriot X Porter flash drive, Asus Nexus 7” 3G tablet, Samsung Galaxy SIII, Lenovo G580 Notebook and many more. Shop now!

DStv HD PVR Decoder now R949

The DStv HD PVR Decoder has further revolutionised the television experience with lifelike viewing, sharper images, more vibrant colours and precision picture quality. Now R949, save R550. Offer valid while stocks last. Shop now!

Up to 30% off appliances & homeware

Save up to 30% on appliances and homeware this Easter! Offer valid while stocks last. Shop now.

OLX Free Classifieds [change area]

Samsung Galaxy s4

Mobile, Cell Phones in South Africa, Western Cape, Cape Town. Date October 24

Best bargain in big bay

Real Estate, Houses - Apartments for Sale in South Africa, Western Cape, Cape Town. Date October 25

VW Golf 6, 1.6 Trendline (Excellent condition)

Vehicles, Cars in South Africa, Western Cape, Cape Town. Date October 25

BlackBerry Torch 9810

The BlackBerry Torch 9810 gives you the powerful combination of...

From R2820.00

I'm shopping for:

Horoscopes
Aquarius
Aquarius

Self-indulgence may be strong today. You may want to enjoy yourself to the fullest and share it with those that make you feel...read more

There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.








Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.