Barack Obama Collects $25 Million
Democrat Barack Obama raked in $25 million for his presidential bid in the first three months of 2007, placing him on a par with front-runner Hillary Rodham Clinton and dashing her image as the party's inevitable nominee.
Obama's fundraising number came from an official in his campaign, who spoke on condition of anonymity.
The eye-popping figure was the latest evidence that Obama, a political newcomer who has served just two years in the Senate, has emerged as the most powerful new force in presidential politics this year. It also reinforced his status as a significant threat to Clinton, who'd hoped her own $26 million first-quarter fundraising total would begin to squeeze her rivals out of contention.
There's one key difference between Obama and Clinton, reports CBS News correspondent Gloria Borger: Obama has 100,000 donors, about twice as many as Clinton. And half of them — 50,000 people — gave by logging on. Obama raised $6.9 million online, compared with $4.2 million for Clinton.
While Clinton has honed a vast national fundraising network through two Senate campaigns and her husband's eight years as president, Obama launched his bid for the White House with a relatively small donor base concentrated largely in Illinois, his home state. But his early opposition to the Iraq war and voter excitement over his quest to be the first black president quickly fueled a powerful fundraising machine.
Obama is the latest presidential hopeful to obliterate the old first-quarter fundraising records.
Republican Mitt Romney raked in $23 million to join Clinton in the $20 million-plus club. The also-rans in the money race also reported eye-popping totals.
Republican frontrunner Rudy Giuliani collected $15 million, and Sen. John McCain, R-Ariz., took in $12.5 million.
Among Democrats, John Edwards collected $14 million. That's double what the North Carolina Democrat raised in the same time period in his last run for the White House.
Cash wasn't always king, reports Borger. But the top candidates have opted out of the public financing system, so they can raise as much money as they want. And they'll need it. The last time the presidential race was this wide open, with no incumbent president or vice president running, was 1952.
To understand just how awash in cash the class of 2008 is, it's only necessary to look at the previous first-quarter fundraising records. Republican Phil Gramm of Texas and Democrat Al Gore of Tennessee held the previous high-water marks: $8.7 million for Gramm in 1995 and $8.9 million for Gore in 1995.
The fundraising totals are a crucial test for the candidates and indicate whose campaign is strongest less than a year before the first primary votes are cast. The fundraising deadline for the January through March period was Saturday, with financial reports due April 15.
Clinton swelled her campaign war chest by transferring an additional $10 million from her Senate fundraising account, aides said. That brought her to $36 million.
Other candidates reporting first-quarter totals included:
New Mexico Gov. Bill Richardson, a Democrat, said he had raised $6 million and had more than $5 million cash on hand.
Aides to Democratic Sen. Chris Dodd of Connecticut said he raised more than $4 million and transferred nearly $5 million from his Senate campaign, for a total of $9 million in receipts and $7.5 million cash on hand.
Democratic Sen. Joe Biden of Delaware lagged behind, with his staff reporting that he had total receipts of nearly $4 million, nearly half of which was transferred from his Senate campaign account.
Kansas Sen. Sam Brownback, a conservative darling but long-shot GOP candidate, also lagged far behind, reporting receipts of less than $2 million, including a $575,000 transfer from his Senate campaign account.
© 2009 CBS Interactive Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report. Obama's fundraising number came from an official in his campaign, who spoke on condition of anonymity.
The eye-popping figure was the latest evidence that Obama, a political newcomer who has served just two years in the Senate, has emerged as the most powerful new force in presidential politics this year. It also reinforced his status as a significant threat to Clinton, who'd hoped her own $26 million first-quarter fundraising total would begin to squeeze her rivals out of contention.
There's one key difference between Obama and Clinton, reports CBS News correspondent Gloria Borger: Obama has 100,000 donors, about twice as many as Clinton. And half of them — 50,000 people — gave by logging on. Obama raised $6.9 million online, compared with $4.2 million for Clinton.
While Clinton has honed a vast national fundraising network through two Senate campaigns and her husband's eight years as president, Obama launched his bid for the White House with a relatively small donor base concentrated largely in Illinois, his home state. But his early opposition to the Iraq war and voter excitement over his quest to be the first black president quickly fueled a powerful fundraising machine.
Obama is the latest presidential hopeful to obliterate the old first-quarter fundraising records.
Republican Mitt Romney raked in $23 million to join Clinton in the $20 million-plus club. The also-rans in the money race also reported eye-popping totals.
Republican frontrunner Rudy Giuliani collected $15 million, and Sen. John McCain, R-Ariz., took in $12.5 million.
Among Democrats, John Edwards collected $14 million. That's double what the North Carolina Democrat raised in the same time period in his last run for the White House.
Cash wasn't always king, reports Borger. But the top candidates have opted out of the public financing system, so they can raise as much money as they want. And they'll need it. The last time the presidential race was this wide open, with no incumbent president or vice president running, was 1952.
To understand just how awash in cash the class of 2008 is, it's only necessary to look at the previous first-quarter fundraising records. Republican Phil Gramm of Texas and Democrat Al Gore of Tennessee held the previous high-water marks: $8.7 million for Gramm in 1995 and $8.9 million for Gore in 1995.
The fundraising totals are a crucial test for the candidates and indicate whose campaign is strongest less than a year before the first primary votes are cast. The fundraising deadline for the January through March period was Saturday, with financial reports due April 15.
Clinton swelled her campaign war chest by transferring an additional $10 million from her Senate fundraising account, aides said. That brought her to $36 million.
Other candidates reporting first-quarter totals included:
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Posted by RandalDS
Thanks. You knew I was joking.
In case anybody didn't, my reference was to the two legitimate children of Barack Obama and his wife.
It was a satriric putdown of the foolish rumors some "anonymous opponents" tried to foist on John McCain back in 2003-2004.
I wasn't trying to start any such silly and baseless rumors about the fine Senator from Illinois.
Posted by Iceman_1960 at 07:25 AM : Apr 05, 2007
LOL! Thanks for explaining it though as there seems to be an inordinate number of ignorant hillbillies on this blog sometimes and they just won't get it unless you tell them and usually in slow words of no more then 2 syllables.
Posted by oleander8 at 09:30 AM : Apr 05, 2007"
LOL
Good retort.
Stop him dead in his tracks if he has any sense.
Posted by Iceman_1960 at 10:02 PM : Apr 04, 2007"
LOL
Yes, Obama was 'pushed' when he fell from those white loins. LOL
(HILLARY FOR PRESIDENT)
(HILLARY FOR PRESIDENT)
So does every other candidate running for President - what's your point?
Obama is for real!!!!
Posted by edjohn66 at 08:56 AM : Apr 05, 2007
Do you really think Republicans will vote for Hillary? Why?
Hillary: voted for the war and for Bush's tax cuts for the rich
Obama: claims he would have voted against the war, is against tax cuts for the rich
I think REPUBLICANS would be for Hillary. Maybe she should run in THEIR primary..... We DEMOCRATS should support the candidate that supports our idealogy and the will of the people: Barak Obama!!
Obama is for real!!!!
Lou Dobbs, of CNN, made the offer yesterday for any Presidential candidate to come on his show and talk for 3 uninterrupted minutes on ISSUES, such as Domestic Issues of Illegal Immigration, Healthcare, Energy, Wages/Jobs for Middle Class, Taxes, etc., and Foreign Policy, War in Iraq, etc. This would give the viewers a better chance at hearing a message of exactly how the candidates feel on issues. Certainly hope all take him up on this offer!!!