what ever happened to obama's almost 1 billion dollar election war chest?

Discussion in 'Politics' started by Yurt, Apr 8, 2009.

  1. Yurt
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    Yurt Gold Member

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    what ever happened to obama's almost 1 billion dollar election war chest?

    does anyone know? i don't think he even spent half of it...
     
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  2. Yurt
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    Yurt Gold Member

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    the silence of the dems
     
  3. elvis
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    elvis BANNED Supporting Member

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    Well, christians tithe, which would explain why Jeremiah Wright now lives in Tinley Park.
     
  4. Burp
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    Burp Always carry, never tell

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    Since he didn't take public funds, he can keep it all.
     
  5. KittenKoder
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    KittenKoder Senior Member

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    Oddly, I have no clue what you are talking about ... but then I never paid any attention to American Idol stars no matter what they were doing.
     
  6. Article 15
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    Article 15 Dr. House slayer

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    I don't know.

    Is he allowed to use what's left for reelection?
     
  7. Article 15
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    Article 15 Dr. House slayer

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    For personal use?
     
  8. Burp
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    Burp Always carry, never tell

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    Well, I don't know for a fact, but I think that since it isn't considered "public money"...

    Can anybody enlighten us?
     
  9. Yurt
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    Yurt Gold Member

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    [​IMG]
     
  10. Burp
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    Burp Always carry, never tell

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    Google is our friend.

    So what options are open to Obama for how he spends the money? Under FEC guidelines, there are many.

    One is to save it for a 2012 reelection campaign, assuming Obama decides to run again, giving a $29.3 million head start to the most prolific fundraising candidate in history.

    Obama also can give unlimited additional amounts to national, state, and local party committees. If Obama donates funds to other candidates, his donations will be restricted to $2,000 per campaign (or $4,000 for a primary plus a general election). If he donates to PACs, he will be limited to $5,000 per year for each PAC he supports.

    Issue advocacy is another option. If the president-elect wants, for instance, to air TV, radio, or print ads supporting any of his policy initiatives, he will be able to do so without spending restrictions from the FEC. The Obama campaign declined to comment on whether using the money for issue advocacy had been discussed.

    Obama also can give unlimited amounts to charity, if he so chooses. He can also invest unlimited amounts of the remaining cash, though income from investments would be taxed. Money market funds, government bonds, stocks, and certificates of deposit all appear to be fair game under a 1999 FEC advisory opinion on campaign investments.

    Anything not designated by the FEC as "personal use"--such as vacation for his family, tickets to sporting events, tuition for his daughters, etc.--will be open to Obama as an option for the $29.3 million.

    TheHill.com - Obama weighing what to do with left over $29.9 Million
     
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