Obama Tops $1 Billion In Career Political Contributions...

Discussion in 'Politics' started by paulitician, May 22, 2012.

  1. paulitician

    paulitician Platinum Member Supporting Member

    Oct 7, 2011
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    More Dear Leader 'Evolving' i guess. He doesn't seem to mind Lobbyists and Big Money Donors.

    President Barack Obama has become the first political $1 billion man.

    He’s the first politician to take in that stratospheric number in donations during his political career, according to data collected by the Center for Responsive Politics.

    His total take reached $1,017,892,305 in April, some nine years after he began his 2004 race for the Senate. Obama is widely expected to raise at least $300 million more before November.

    President George W. Bush, in contrast, raised roughly $430 million despite running two complete presidential races and bearing the brunt of Democrats’ claims that he was a pawn of bankers, oil companies, coal magnates and defense contractors.

    Bush’s total campaign spending was roughly $140 million more than his donations because he received matching federal funds in exchange for limiting his own private fundraising.

    Obama, however, raised nearly all of his $1 billion after reversing his promise to follow suit. Obama broke his promise in June 2008, saying “We face opponents who’ve become masters at gaming this broken system.” (RELATED: Full coverage of the Obama campaign)

    Obama’s flip-flop on federal funding is also unique.

    Bush did not evolve on the issue, and instead limited his fundraising, as urged by many left-of-center groups and activists, such as Fred Wertheimer, the founder and president of Democracy 21.

    That group, and other allied organizations, pointedly declined to criticize Obama’s backtracking in a letter sent to Capitol Hill asking for extra spending for politicians’ campaign expenses.

    “The presidential public financing system has served the country and presidential candidates of both parties well for most of its 35-year existence,” said the January 2011 letter. “The system only began to decline when campaign costs outstripped the public financing,” said the liberal-leaning groups.

    Bush’s campaigns were aided by spending by so-called super PACs, the independent groups that collect and spend political donations to help political candidates.

    Obama’s support from super PACs’ spending is lower despite his February decision to stop discouraging his donors from supporting Democrat-aligned super PACs. Obama’s wide stance on the issue followed a disappointing few months of fundraising that ended speculation about a possible $1 billion fundraising total during the 2012 race alone.

    Read more: Obama tops $1 billion in career political contributions | The Daily Caller

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