Obama's campaign far below magic number
Obama's campaign far below magic number, Obama’s money woes, The president's campaign was rumored to be a $1 billion juggernaut, but it's falling short. President Obama has money troubles. The president's re-election campaign was rumored to be a $1 billion juggernaut, it was supposed to dominate the 2012 election. But it has fallen short of that lofty number, by a lot.
The inability to reach the big B is a warning signal to the base. In 2008 Democrats had every reason in the world to donate, and they need to be convinced of the same this time around.
Of course part of the problem stems from Super PACs, groups that can raise and spend unlimited amounts of money on candidates, as long as they do not co-ordinate with those candidates. The disparity between the Super PAC backing Obama -- Priorities USA -- and the conservative one affiliated with Karl Rove -- American Crossroads -- is stark: American Crossroads has ten times as much money in the bank as Priorities USA.
Once the general election begins, the Karl Rove group can start dumping a lot of cash on Obama's head, which will lead to a wake-up call for Democrats to start writing checks. Will the top fundraiser also be the Electoral College winner? This will be a hard-fought campaign where money is going to have to play.