Obama takes 2012 fundraising lead with $86M

President Obama gestures as he speaks during a Democratic National Committee event at the Sheraton New York Hotel and Towers, June 23, 2011, in New York. / AP

Updated at 6:58 a.m. Eastern

WASHINGTON - President Obama collected $86 million combined for his re-election campaign and the Democratic Party during the past three months, giving him a large fundraising advantage over the Republican field seeking to challenge him in 2012.

Obama raised more than $47 million and the Democratic National Committee brought in more than $38 million through the end of June, Obama campaign manager Jim Messina said in a video posted early Wednesday. Obama's team had set a public goal of $60 million combined.

The fundraising totals outpace Republicans, who have collectively raised about $35 million so far, although some candidates have yet to release their results.

At the same time in 2007, 10 Republican presidential hopefuls had raised more than $118 million, according to the Center for Responsive Politics.

Fundraising totals are often seen as a gauge of excitement about a candidate, and the money in Obama's coffers will help build a foundation for all-important advertising and get-out-the-vote efforts in next year's election.

Obama's advisors are anticipating a stiff challenge from Republicans amid rocky economic conditions. Obama has acknowledged he will need to re-energize supporters who were inspired by his message of hope and change three years ago but may be discouraged by the economy and the pace of change.

Former Massachusetts Gov. Mitt Romney leads the Republican field in fundraising, pulling in more than $18 million during the past three months. An independent fundraising group supporting Romney's presidential bid has raised $12 million this year.

Following Romney, former Minnesota Gov. Tim Pawlenty collected $4.2 million and former Utah Gov. Jon Huntsman brought in $4.1 million, with about half coming from his personal wealth. Minnesota Rep. Michele Bachmann, a favorite of the anti-tax tea party, has not yet released her fundraising totals.

Obama's advisers have told donors privately they hope to match or exceed the $750 million they raised in 2008.

Messina said more than 550,000 people donated money to the campaign during the first three months, a large increase from about 180,000 donors to Obama during the first half of 2007. The campaign has actively courted small donors, hoping to show that the president is in a good position for the 2012 campaign and capable of generating broad financial support.

[lmenning1978]

I stand behind barak obama in his effort to help out,for the social security and veterns checks. I think that he should pass that the repubilicians has to pay double taxes for inwhich they are the ones who had spent the americans money before barak obama became president. and all of these's oil and gasoline companies who has beyond gotten more richer from over charging the american people should be taxed double. we the smaller and poorer people needs the help with money and not the richer to embark becoming richer.

[credibility2]

Rome is burning while this guy fiddles around during the last few months raising millions for his re-election campaign. We do know what happens to Rome and Nero, now don't we?

[bilrobi1]

But the conservative Supreme Court makes it totally legal. Why is it not a problem when Romney or Bachmann raise campaign funds?

[PW9]

Yeah... but he can't even GUARANTEE that Seniors will get their Social Security? Why in the world would we ever vote for this schmuck again?

[Danize]

he said while choking on the dust of millions exiting the polls...

[bilrobi1]

Yes. It's to bad the infirm,poor and the veterans have to suffer while the rich and the corporations get away with not paying their fair share. If the republicans could stop supporting those rich folks maybe we could support the ones who really need it

[ACRScout]

$86 Million? There are more idiots in the US than I thought.

[Zann-Zel]

: )

Go Obama!!! 2012 Looks Awesome!

[ammo17]

but i thought the country was broke,where did these democrats find $86,000,000?it must be coming from all the crooked banks and mortgage companies.we have the best government money can buy.

[Zann-Zel]

I wondered if y'all ever think about where did all this money come from! LOL! According to y'all every single democrat is a poor person barely surviving with no job! Surprise! We DO have jobs! : )

[tsigili]

Obama can't buy it, this time. It is the GOP's to lose.......which they are successfully doing, at this point in time.

[Progress4U]

God bless you Mr. President. You're going to need a mighty war chest to fight back the crap the right will undoubtedly throw in the vain attempt to unseat you.

But we progressives are here for you and we will vote to keep change moving forward!

[albo58]

This man has campaigned non-stop for the past 2 years (as opposed to actually doing his job!) and someone is actually surprised he has collected $millions from far left lib groups, Unions, Dimwit elitists and class warfare warriors? We taxPAYERS just can't afford him and his welfare state ideas so ABO (Anybody But Obama) 2012 is our ralling cry!

[daffy64]

So in other words, you admit you're fielding very poor candidates?

[djandle]

This administration and every liberal is hell bent on destroying this great nation. They romanticize communism and socialism, but none have actually lived it. When it does arrive, I wonder just how great they will think it is? Grass is always greener on the other side of the fence.

[jpfromoh-2009]

Please do not forget Obama's broken promise when he was running for President "to accept Federal Camapign Funding (you know the block on your IRS returns saying give a couple of bucks to campaigns) if his opponet (McCain) does. McCain accepted this money and Obama quickly broke his promise after he saw all of the millions of dollars flowing into his campaign coffers.

So much for the small donations from Obama's loyal followers. It is all about following the big money trail today which inevitably leads to caving in to special interests.

The Audacity of Deception!

[jpfromoh-2009]

"Change" you can believe in!