Obama Re-Election Campaign Rakes In $86 Million In One Quarter

President Barack Obama’s re-election campaign set a record for the most money raised by an incumbent in a single quarter, raising more than $86 million in the second quarter.

President Barack Obama’s re-election campaign announced today that it raised more than $86 million in the second quarter, setting a record for the most money raised by an incumbent in a single quarter.

In a video sent to donors and supporters, Campaign Manager Jim Messina offered a preview of Obama’s campaign financial report, which will be released in full on Friday. Messina said the $86 million sum represents pooled money from the Obama for America campaign (OFA) and the Democratic National Committee (DNC). This combination is called the Obama Victory Fund (OVF).

The OFA will report that it had 552,462 individual donors that gave a total of $47 million. Messina said that “98 percent” of donations were under $250, and the average donation was $69.

Messina also said that the huge sum represents mostly grassroots support, and the campaign “did not accept one single dollar from Washington lobbyists or special interest PACs (political action committees).”

CNN.com reported that “(t)he total goes far beyond the $50.1 million President George W. Bush pulled in for the third quarter of 2003, as his re-election campaign was gearing up. At the time, that was the most ever raised in a single quarter by an incumbent president seeking re-election.”

Candidates seeking the Republican nod obviously cannot yet count funds from the Republican National Committee in their fundraising tallies, so their numbers are far less impressive.

“Massachusetts Gov. Mitt Romney is in the lead, with $18.3 million,” the CNN.com article read. “Texas Rep. Ron Paul pulled in $4.5 million, while former Minnesota Gov. Tim Pawlenty collected $4.2 million. Former Utah Gov. Jon Huntsman collected $4.1 million, which included $2 million of his own money.

“Businessman Herman Cain collected $2.5 million, while former House Speaker Newt Gingrich collected $2 million and is approximately $1 million in debt. Former Pennsylvania Sen. Rick Santorum collected less than $2 million… Some Republican candidates have not yet reported their figures, including Minnesota Rep. Michele Bachmann.”




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