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Obama campaign’s staggering haul: $86 million raised for reelection

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Washington Bureau

President Obama’s vast campaign operation raked in $86 million for his reelection and for the Democratic Party during the last three months, breaking previous records with a total far greater than those posted by his potential Republican opponents in the 2012 election.

Initially, the Obama campaign had set a goal of raising $60 million. Republican candidates combined are expected to raise less than $35 million this quarter.

The Obama amount points to the advantages of incumbency in fundraising, and to the staggering cost of the coming election, which this year will feature a new, powerful role for independent groups that can raise unlimited sums. This year, those groups could out-raise and outspend the parties and the candidates.

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The dollar total for Obama last quarter, announced by his campaign manager in a video message to supporters Wednesday morning, reflects $47 million raised for the Obama for America presidential campaign and an additional $38 million raised jointly with the Democratic National Committee.

In the video Obama campaign manager Jim Messina emphasized the record-breaking number of donors contributing: about 550,000.

“This is a historic number of small-dollar, everyday people,” he said, noting that the campaign does not accept funds from lobbyists or political action committees.

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The number does shatter previous records, and meets Obama’s goal of launching another campaign that involves a large numbers of individuals in all 50 states. Still, the total amount of dollars raised was boosted by a ramped-up effort to court large-dollar donors to joint events with the DNC.

For example, the Los Angeles Times reported recently on a several programs to lure large checks from individual donors. One program, called “Presidential Partners,” seeks a two-year commitment in exchange for regular briefings and updates from the campaign. The price of admission: $75,800.

Obama’s closest competitor in the GOP field, former Massachusetts Gov. Mitt Romney, says he will report $18 million collected during the last three months. In addition, an independent group supporting Romney says it has raised more than $12 million this year.

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