President Barack Obama is balling more than your favorite Young Money Cash Money Billionaire artist these days and what’s amazing, is that Obama never had to rap, sing, dance or write lyrics ― people just gave him the money!
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It was announced that Obama has banked $86 million for his re-election campaign, a figure far ahead of the Republican hopefuls aiming to take his spot.
At this pace, the Obama campaign will raise close to $1 billion dollars and most likely exceed the $750 million they raised in 2008.
Obama even tweeted:
But we know the most important figure here is the number of people like you who stepped up to be a part of this from the start. Thank you.
That’s more than $47 million for the campaign and $38 million for the DNC, including allocations from our joint fundraising committee.
Here’s the part we’re pretty incredibly proud of: 98% of all the contributions that people sent in were $250 or less. #Obama 2012.
The average contribution to #Obama2012 was $69 — substantially lower than our average contribution in 2008.
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It’s all about the money when it comes to a re-election campaign. For example, when President George W. Bush launched his re-election bid in mid-May 2003, he raised $34.4 million through June 2003.
By September of that same year, Bush had raised over $85 million.
It’s true what they say, it’s all about the Benjamins!
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Why are Republicans running against Obama if they can’t keep up in the money race? Usually the candidate with the most money can buy the most advertising, TV time and voter influence by setting up phone banks in highly contested areas around the country.
Republicans seeking the Presidential office in 2012 have collectively raised about $35 million so far, although many of them have not disclosed how much money they have raised yet.
So who is leading the pack when it comes to the Republicans? Let’s take a look.
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Former Massachusetts Gov. Mitt Romney is at the head of the pack, raising more than $18 million during the past three months.
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Former Minnesota Gov. Tim Pawlenty has only collected $4.2 million since the birth of his campaign.
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Former Utah Gov. Jon Huntsman has only managed to bring in about $4.1 million and some of it comes from his own money.
