The New York Times reports that:
President Obama’s re-election campaign is straining to raise the huge sums it is counting on to run against Mitt Romney, with sharp dropoffs in donations from nearly every major industry forcing it to rely more than ever on small contributions and a relative handful of major donors.
From Wall Street to Hollywood, from doctors and lawyers, the traditional big sources of campaign cash are not delivering for the Obama campaign as they did four years ago. The falloff has left his fund-raising totals running behind where they were at the same point in 2008 — though well ahead of Mr. Romney’s — and has induced growing concern among aides and supporters as they confront the prospect that Republicans and their “super PAC” allies will hold a substantial advantage this fall.
To whom does the Obama campaign turn when the stuffed-pocket crowd has turned its collective back on him?
With big checks no longer flowing as quickly into his campaign, Mr. Obama is leaning harder on his grass-roots supporters, whose small contributions make up well over half of the money he raised through the end of March, according to reports filed Friday with the Federal Election Commission.
As one should have expected after the Supreme Court’s very controversial Citizens United
decision (.pdf), the Republican Super PACs are fat with cash. This has forced the Obama campaign to appeal for funding from the lesser people whose interests he failed to serve during his first term.
- Obama Campaign Faces Dropoff in Big Donations – NYTimes.com (policyabcs.wordpress.com)
- Obama’s Big Donors Slow to Write Checks (newser.com)
- Obama campaign faces drop-off in big donations (mercurynews.com)
- Obama enjoys 10-1 financial edge over Romney (newsok.com)
- Republican Super Pacs’ haul at $100m as Romney and Obama battle for cash (guardian.co.uk)
- Reports to detail post-Super Tuesday campaign cash (wcnc.com)
- Obama-Romney Campaign Commercials Give Hint Of Ad War To Come (washington.cbslocal.com)
- Obama ends quarter with more than $100 million in bank, but Romney and his allies are close behind (dailykos.com)
- Reports to detail post-Super Tuesday campaign cash (hosted.ap.org)
- Obama kicks off battle vs Romney with big money lead (vancouversun.com)