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Obama Entered October With Over $130 Million Cash On Hand
Obama's cash on hand numbers are in, and they're astounding: He entered October with $133.6 million in the bank.
That comes after the news that he raised $153 million in September.
Combine Obama's cash on hand with the DNC's cash on hand number -- $27.4 million -- and you have a total Dem cash number of $161 million.
Meanwhile, McCain's cash on hand number entering October was $46.9 million, well under half of Obama's.
Combine that with the RNC's cash on hand, which is $77.5 million, and you get $124.4 million in total GOP funds -- less than Obama's cash on hand alone, not even counting the DNC.
That puts the Dems nearly $40 million ahead of the GOP at the beginning of October, a significant financial advantage as time runs out.
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Does it really matter? Can either candidate really blow through $120 million in two weeks? Seems like they both have enough.
October 21, 2008 10:13 AM | Reply | Permalink
More than enough. Boggles the mind . . .
October 21, 2008 10:18 AM | Reply | Permalink
Instead of just 30 minutes, Obama could now buy an entire hour of prime-time TV on the eve of the election.... I think that would be money well spent.
http://thepajamapundit.com/
October 21, 2008 10:20 AM | Reply | Permalink
Somebody on these threads was pointing out yesterday that there isn't anymore time to buy. What a concept!
October 21, 2008 10:45 AM | Reply | Permalink
With the World Series coming up and national ad buys, he could go through a LOT of cash. Not to mention the 30 minute blocks.
October 21, 2008 10:24 AM | Reply | Permalink
Not only are ad buys very expensive, especially for the World Series, but Obama's got to keep a huge number of offices open and volunteers happy. The largest ground operation in history needs to be bought a whole lot of coffee and donuts. (And gas, and door hangers, and phone lines...)
Is it a phenomenal amount of money? Yes. Will I be donating as per usual the moment I get paid? Absolutely. It isn't over yet, and if I end up contributing to a fearsome Obama warchest for 2012 I'll be contented with that.
October 21, 2008 10:45 AM | Reply | Permalink
You're so right. Folks forget that little things like coffee, stamps, paper--all that adds up.
But I wouldn't worry about the food. We were very well fed when we went to SC and PA to canvass/call--ESPECIALLY South Carolina. And it didn't come from the campaign: some folks cooked, others bought food. During the Potomac Primary, we picked up snacks/juice/water during our regular Costco run. A caterer also provided food at cost, and folks just chipped in to pay her back, including yours truly (remember, it was cold so it was GREAT to come back and have hot food waiting for us).
What I'm even more impressed with is how they use their resources--which is to say that they act like they're broke. They recycle EVERYTHING: e.g., the same door signs I saw in SC, I saw in MD (w/ the SC references at the bottom cut off).
Wow...didn't mean to go on and on. I'm just so damned impressed with this campaign! I cannot WAIT to win this thing so we can get back to actual policy formulation, governance and wise use of our resources.
October 21, 2008 11:23 AM | Reply | Permalink
Great post APeach. Loved the recycling part.
October 21, 2008 11:30 AM | Reply | Permalink
Good points. And let's not forget massive legal teams on hand for contested results. Which the Obama team to their credit already have started putting together, given the obvious signals from the GOP that they're going to pull out all the vote-suppression stops.
October 21, 2008 11:35 AM | Reply | Permalink
you are thinking old and evidently not well versed in what goes on in an Obama campaign office---
No money is spent on donuts or bagels---water yes but all the food is donated from volunteers....they actually have comfort teams....those who wilt actually contacting voters but want to help.
Phones lines...what phone lines they have cell phones, blackberries and laptops....phone banks are Crickets and personal cell phones using free minutes by volunteers....stealth and rapid...no jamming here..
Yes printing and chum but much of that is paid for by donation....Obama's cash is opening and facilitating offices with volunteers and staffers almost 50-1, 50 vols.....who are actually leads.
The money I expect will be used in wide ranging attack across all the medias, bringing in surrogates, blanketing the landscape with literature in GOTV and then having reserves for 2012.
Actual voter contact is the key....
October 21, 2008 12:31 PM | Reply | Permalink
{{{{{{Giant smile}}}}}}
October 21, 2008 10:14 AM | Reply | Permalink
And we're half way through October. Obama probably has a $100M advantage right now.
October 21, 2008 10:16 AM | Reply | Permalink
You're guessing right. Somewhere around that.
October 21, 2008 10:43 AM | Reply | Permalink
Whoohoo!
Summa dat money is mine!
Use it wisely young Barack for there are those who would seek to disenfranchise you.
(channeling some deviate schizoid Yoda'ish flashback)
October 21, 2008 10:20 AM | Reply | Permalink
Cosign. Just got my Election Day T-shirt in the mail, as promised for making a Sept. 30 donation.
VERY high quality product, BTW - much nicer than the one I got from cafepress.
October 21, 2008 10:31 AM | Reply | Permalink
Heh. I've got a short trip to Orange County (CA) coming up today. I think I'll take along my TPM McSame-Palin lipstick-on-a-pig T-shirt. Oh, and my Al Franken T-shirt, too!
October 21, 2008 10:47 AM | Reply | Permalink
That's just amazing.
October 21, 2008 10:21 AM | Reply | Permalink
I love this lean and mean campaign!
October 21, 2008 10:23 AM | Reply | Permalink
Buy 30 minutes of priemtime teevee everyday from 29th to 3rd. Bury the repugs under positve messages.
October 21, 2008 10:24 AM | Reply | Permalink
I think he should not overdo it. Build the excitement for that one half hour. That buys you a couple days of coverage. Then use the coverage you get from that half hour for couple more days.
Sometimes "less" is more.
October 21, 2008 10:35 AM | Reply | Permalink
Mebbe, he could run individual one-on-one interview type adverts with the congressional dem candidates in each state. A two-fer.
October 21, 2008 10:40 AM | Reply | Permalink
Although twenty minutes of Keating Economics would not upset me at all, positive messages with windfarms and such would definitely serve to flesh out that futuristic, optimistic vision to the public.
October 21, 2008 10:58 AM | Reply | Permalink
McCain is scamming his own finance laws:
http://online.wsj.com/article/SB122455082328052539.html
October 21, 2008 10:24 AM | Reply | Permalink
McCain has Obama RIGHT where he wants him!
October 21, 2008 10:26 AM | Reply | Permalink
Ahead on him in Indiana?
Obama 48 McCain 46
http://publicpolicypolling.blogspot.com/2008/10/obama-holds-small-lead-in-indiana.html
October 21, 2008 10:29 AM | Reply | Permalink
Yes, mcShame needs to Flame.
October 21, 2008 10:30 AM | Reply | Permalink
Ahead on him in Indiana?
Obama 48 McCain 46
http://publicpolicypolling.blogspot.com/2008/10/obama-holds-small-lead-in-indiana.html
October 21, 2008 10:31 AM | Reply | Permalink
Stop ahead
Starve adealer
October 21, 2008 10:37 AM | Reply | Permalink
Took me a minute but I finally got it ;-)
Damn we're old!
October 21, 2008 10:59 AM | Reply | Permalink
That just shows you how mavericky McCain truly is. Who lets their opponent get the lead in a state that they absolutely have to have to win? Or focuses their effort on turning a 10 point deficit in one state versus a 5 or 6 point deficit in another must win state? A MAVERICK.
Got'em right where they want him.
October 21, 2008 10:44 AM | Reply | Permalink
Ya betcha!
October 21, 2008 10:47 AM | Reply | Permalink
That's actually true. Getting BigO into the WH gets him out of the Senate. McScum just can't stand working with that uppity young whipper-snapper.
October 21, 2008 10:55 AM | Reply | Permalink
Save enough to fight legalities if McCain pulls any "funny stuff" with those voting machines! It IS all he has left and he is irrational and desperate.
October 21, 2008 10:29 AM | Reply | Permalink
I bet some of that 39 mil allocated to Fla is for exactly that reason!
October 21, 2008 10:32 AM | Reply | Permalink
Keep a close eye on Pennsylvania. McSquirm seems a bit cocksure, the polls be damned.
Send Lawyers, Guns and Money!
October 21, 2008 12:30 PM | Reply | Permalink
Keep a close eye on Pennsylvania. McSquirm seems a bit cocksure, the polls be damned.
Send Lawyers, Guns and Money!
October 21, 2008 12:31 PM | Reply | Permalink
Heh. I remember reading with amusement several comments over the last few weeks saying how Obama's opt-out from public financing wasn't a win and how BigO+DNC would be about the same as McScum+RNC.
Of course, it's easy to say that now. If I had *known* things would turn out as they have, I'd have shot my mouth off earlier :-)
October 21, 2008 10:29 AM | Reply | Permalink
I particularly love the fact that there have been discussions about Obama sharing the wealth with key Senate and House candidates or the DSCC/DCCC. Talk about taking office not only with a mandate but with loyalty and a commitment to work together...
October 21, 2008 10:30 AM | Reply | Permalink
I figured that would happen - the money would start flowing to other candidates since there's so much of it.
And anyone who thinks they aren't keeping track of who gives what let me tell you - they know exactly how much I've given and how much I've got left to give - cause they emailed me and asked if I could give the rest.
Not in one chunk I can't - my money's tight too. In fact, I expect it to be tight from now on. No more easy money - that was a Bush scam, all that easy money.
October 21, 2008 10:35 AM | Reply | Permalink
You know, one thing that makes that $150 million figure so remarkable is they raised it during the financial meltdown -- people were feeling strapped and they still gave.
October 21, 2008 10:45 AM | Reply | Permalink
That has stuck me, too.
September was a terrible month all over the world and yet Obama raised record amounts of money.
And I will keep giving til it's over -
October 21, 2008 11:09 AM | Reply | Permalink
Wasn't it Eric who every month asserted that Obama's financial advantage might not be real?
Just checkin...
October 21, 2008 10:34 AM | Reply | Permalink
Meanwhile, the flaming trainwreck that is the McShame/Failin campaign just keeps lurching along, metal crunching on metal, bodies flying every which way, bystanders sprinting to safety:
http://crooksandliars.com/cernig/mccain-letter-asks-russian-envoy-money
October 21, 2008 10:37 AM | Reply | Permalink
Seems like Hillary's bailout is in the bag. With this kind of money, I'd imagine that it wouldn't be hard for Barack to help settle those campaign bills.
October 21, 2008 10:37 AM | Reply | Permalink
Legally, the money raised for Barack's campaign cannot be used to bail out Hillary, I don't think. (The DNC money may be able to be used that way.) He would have to fundraise separately for her.
October 21, 2008 10:40 AM | Reply | Permalink
I believe you are exactly correct because a Democrat running here in New Mexico just got in trouble for doing that.
Fucking Repugs are fighting really really hard - they managed to fuck up this guy's campaign by rooting around til they came up with something and that something was that he gave some funds he'd raised to retire Hillary's debt.
Can't do that.
October 21, 2008 10:43 AM | Reply | Permalink
Thanks for the clarification. I had a sentence asking if it was actually legal and deleted it.
So what can one do with all of the campaign money after it's over? Roll it over for next time? Build Habitat for Humanity houses (I can't remember what network, but someone was talking about how there is only so much money Obama can spend and was saying building Habitat houses might be a way to spend the money)?
October 21, 2008 11:31 AM | Reply | Permalink
Hey this is a little off topic but seems like a pretty important story. Maybe the TPM peeps could look into this.
The Ohio Secretary of State is getting threats and the state website is having hackers attack it.
Anyways, get this story out and lets make sure this lady doesn't get overrun by the pressure of these relentless animals and has the support of the community.
http://www.bradblog.com/?p=6539#more-6539
October 21, 2008 10:37 AM | Reply | Permalink
Question for A Missouri Voter:
I was watching your Governor on "Road to the White House" last night.
Is he always that big of a douchebag?
October 21, 2008 10:39 AM | Reply | Permalink
YES. He has been a disaster for our state and would have been on his way to a stunning defeat if he had decided to run for reelection.
October 21, 2008 10:49 AM | Reply | Permalink
There's a point where the amount of money one has is irrelevant, at least in terms of what it actually buys. To me the most important element of Obama's fundraising advantage is that it displays a broader and more motivated base than McCain's. That's more important in the end than, say, how many commercials someone can saturate a given market with. Indeed, there comes a point where people just tune out (or even turn off) the tube when they feel too bombarded.
October 21, 2008 10:39 AM | Reply | Permalink
Disagree. More money towards end means more paid staff for campaigning, GOTV etc.
October 21, 2008 10:43 AM | Reply | Permalink
Sure, there are lots of ways to spend money, including GOTV. However, campaigns are like any other type of organization -- they can get too big too fast. Extra money -- particularly lots of extra money -- doesn't always help. Indeed, it can backfire.
So far the Obama campaign has been very well run, so I would expect that it would make reasonable decisions on how to allocate its resources. I'm just pointing out that just because you have the money to buy X (let's say 100 more staffers in a given state) that you have the organizational infrastructure to actually manage all of those people in the short timeframe campaigns must work under.
October 21, 2008 10:52 AM | Reply | Permalink
And this news won't stop us from donating till the end (I'm still very angry about the "scandal" comment).
October 21, 2008 10:40 AM | Reply | Permalink
Greg and Eric,
McCain-RNC cash at hand that you have here is 20 days old. They have between $25-40 million on hand at this point, forget about "$124.4 million in total GOP funds."
Right now, we have 4:1 advantage in total funds, i.e. we have $100+ million at hand against GOP's $25 million. In October, the Obama Campaign is aiming at $200 million. The campaign is talking about transferring $50+ million leftover to Party funds after the election.
October 21, 2008 10:40 AM | Reply | Permalink
The same thing I was thinking. We're almost 3 weeks into October and McCain & the RNC funds have to be much lower than they already are. Obama has spread the battlefield to far for McCain to keep up with.
October 21, 2008 10:44 AM | Reply | Permalink
In September, the Obama Campaign contributed "to Democratic parties in key battleground states. He distributed more than $7 million to party committees, including $1.7 million to the Florida party and $1 million to the Ohio Democrats. Among other state parties receiving $400,000 or more were those in Michigan, Wisconsin, Colorado, Nevada, Pennsylvania and Missouri. Virginia's received $390,000" (AP).
On a side note, by the end of the election, the campaign will have spent $25 million in VA and $40 million in FL.
October 21, 2008 10:50 AM | Reply | Permalink
At the same time I'm getting daily e-mails from the campaign asking for still more money, as if everything depends on another hundred bucks coming from my moth-eaten wallet. They must have a use for it, else why would they be working so hard to get more?
October 21, 2008 10:41 AM | Reply | Permalink
Well so do I, but I don't resent it.
You don't have to give if you don't have it but don't expect them to stop asking for heaven's sake.
October 21, 2008 10:45 AM | Reply | Permalink
I didn't say I resented it. I didn't say I felt compelled to give -- although I've donated twice this month. What I'm asking is: if they already have more money than they can possible spend apart from buying party hats and whistles for everyone who shows up on Nov. 4, why the white heat to earn still more? Where, specifically, is the shortfall? I've heard, for example, that there's literally no more air time to be bought anywhere.
While I'm on this point let me also ask: What becomes of any millions left over once the campaign is finished? Anyone know?
October 21, 2008 10:55 AM | Reply | Permalink
Giganto war chest for 2012.
October 21, 2008 10:57 AM | Reply | Permalink
Ground operations...
The GOTV effort on Nov 4th will be unlike anything we have ever seen.
October 21, 2008 11:21 AM | Reply | Permalink
...Even if you don't want to give yourself, cut the campaign some slack. Donations still serve to underwrite one of the thousands (millions?) of volunteers working on this campaign. And do you know what it's going to take to pay the legal teams if the McCain campaign tries to steal it (which by all accounts they're gunning to do, and which they're in a good position to do?) Not to mention the massive expense of ad buys in this day and age. The need for money is by no means over.
October 21, 2008 10:51 AM | Reply | Permalink
They were saying that Obama has more money than there time to buy.
And yeah, the RNC has some down ballot races they have to start looking at rather than pour more money down the McCain rathole.
October 21, 2008 10:44 AM | Reply | Permalink
As a 30 something professional, registered republican, Caucasian single mother of two, independently living in southern Connecticut; who has NEVER voted outside the GOP, words CAN NOT adequately express the passion I feel for the democratic ticket. Both Obama and Biden have impressed me tremendously with their political acumen, integrity, knowledge, judgement, morals, and values. The thought of this team running our country is a massive relief for me. I've reached the point of being physically ill with fear whenever I begin to think about the remote possibility of John McCain as POTUS. The fluid in my spinal cord literally curdles and threatens to compromise my brain stem whenever I hear or see that man speak. When I watch him scathingly flail his puppet like arms, dart his shifty reptilian tongue and beady cold hearted eyes about, I immediately associate his treachery and ugliness with the pessimistically bi-polar, power hungry Gollum character from The Lord of the Rings. Though not quite as histrionically verbose, I'm positive I am not the only individual who feels this way.
http://3rdrail.net23.net/index.php
October 21, 2008 10:44 AM | Reply | Permalink
Welcome!
October 21, 2008 10:47 AM | Reply | Permalink
Man I love this comment!
Nice to see you - very nice indeed!
October 21, 2008 10:51 AM | Reply | Permalink
Bravo!!! Welcome home darling
October 21, 2008 11:02 AM | Reply | Permalink
You're sitting at the grownups' table now. :-)
October 21, 2008 10:52 AM | Reply | Permalink
Sorry for the re-post but this fits better here...
Question for those who know more about campaign finance than I do-
First an observation - if I had a TV station I would make the McCain campaign pay cash up front. They seem like the kind that would walk away with unpaid bills. What would happen with any unpaid bills since he used public financing?
Sort of the opposite track - what can Obama do if he has cash left over? Can he save it for 2012? Start up a PAC to help other Dems?
October 21, 2008 10:45 AM | Reply | Permalink
Why is the DNC so weak at fundraising compared to the RNC? It's so frustrating we can't remotely keep up.
October 21, 2008 10:45 AM | Reply | Permalink
Probably has something to do with the fact that McCain has public financing, so people who otherwise would be donating to him are, instead, giving to the RNC. And the opposite is the case for the DNC.
October 21, 2008 10:50 AM | Reply | Permalink
It is not just this election. Every election RNC is better at fund-raising. RNC has a better organization and networks, all the way through the local level. We were even worse in the past. We have improved a lot since Dean took over and has a plan to have a better organization around the year. The sad thing in the past: DNC organization would be activated only close to the election.
October 21, 2008 11:02 AM | Reply | Permalink
And the max donations are much higher - folks can donate $26K (give or take) to the party, but only $2300 to the candidate - Obama relies on small donors, and I assume the DNC will be the same way under Obama. The RNC relies on big donor types, who are buying influence.
October 21, 2008 11:05 AM | Reply | Permalink
True. It reminded me of Meg Whitman, who contributed a total of $92,400 to McLame this year, according to F.E.C. records. This is called McCain-Feingold campaign finance reform.
October 21, 2008 11:46 AM | Reply | Permalink
If Obama starts funding down ticket races, it will force the RNC to stop funding McCain and send all of their money to try and counter Obama's down ticket funding.
Obama has more money than he can spend at this point, if he sits on it, it is lessening his advantage.
Of course he should also save some money for the 2010 midterm to help keep the majorities then as well.
October 21, 2008 10:54 AM | Reply | Permalink
Keep up the donating to Obama, folks. This ground game is expensive, and any money that is left over will find a good home with state parties and with congressional and state legislative candidates as the Obama people aren't hogging it all for themselves.
October 21, 2008 10:59 AM | Reply | Permalink
Can a presidential fund be used to contribute to other campaigns in the way you suggest? I don't know anything about this; I'm just curious.
October 21, 2008 11:04 AM | Reply | Permalink
Not directly, but through DNC, I think.
October 21, 2008 11:10 AM | Reply | Permalink
Agreed. This month needs to be $200 million. Or what the hell--$250 million. As you said, any funds not spent during the campaign will go to good use.
October 21, 2008 11:05 AM | Reply | Permalink
Meanwhile, Obama's press aides complain that they're forced to share one tape recorder among four people and that they couldn't convince the campaign to buy them more.
This may seem like a relatively minor point, but it's not, because it gives a very clear indication of what sort of leader Obama will be. His campaign is rolling in cash--so much cash they're having a tough time finding new ways to spend it--and staffers are sharing tape recorders. Obama has said that he would go through the federal budget, line by line, and cut wasteful spending. Should we take him at his word? I'd say the answer is yes. All along the trail, Obama has run his campaign the way he'll govern this country. He gets the "long range thinking" thing. He knows where to spend and where to conserve. I want this guy in charge as we dig ourselves out of this mess.
October 21, 2008 11:02 AM | Reply | Permalink
Your money at work, people. Gotta love this guy.
October 21, 2008 11:08 AM | Reply | Permalink
You spoke my mind. That is exactly what I was thinking. Complete restrain on extravagant spending. That is how he developed his character. It speaks volumes about his personality and view on economy: The guy has 2 pairs of shoes and 2 jackets.
October 21, 2008 11:10 AM | Reply | Permalink
One of them shoes with holes in it. I remember seeing a pic of his putting his legs on the table with a glorious view of his shoes with holes in it.
October 21, 2008 11:14 AM | Reply | Permalink
It isn't clear to me to what degree the Obama campaign's fiscal management is a function of Obama himself or the people he has hired. Given that he doesn't have all that much management background, I would assume the latter. Nevertheless, if he knows how to pick excellent managers that's a crucial skill of a chief executive.
That said, I don't know a dearth of basic equipment is necessarily a good thing in campaign. If it takes four tape recorders for an office to do its job, they should buy them.
October 21, 2008 11:25 AM | Reply | Permalink
I own a short sleeved navy Obama tshirt that I wore to Chicago Gay Pride.
I own a short sleeved white Obama tshirt that I wore to the Taste of Chicago.
I own a short sleeved black Obama tshirt that I wore to Market Days.
I own a black zip up Obama sweatshirt that I wear over almost everything I put on for work.
BUT most importantly, I have a brand new long sleeved black Obama/Biden tshirt waiting for ELECTION DAY.
I love my Obama
October 21, 2008 11:19 AM | Reply | Permalink
Our very own J Danforth Qualekatt, who came to us election day for Bush41/Quale, has Obama 08 stickers on his food dish AND his water dish.
October 21, 2008 4:03 PM | Reply | Permalink