To date Barack Obama has raised some $75 million in his quest for the Presidency. Hillary Clinton has raised $63 million – some $12 million less.
Much hoopla is being raised about the fact that Clinton raised some $3 million more in the third quarter numbers through September 30th than Obama did. The New York Times claims in its headline that “Clinton Steals Obama’s Fund Raising Thunder” But one can look at these numbers in different ways. Hillary’s figure go from $20 million to $22 million to $23 million for the three quarters of this year. Pretty consistent numbers.
Barack’s number go from $25 million to $31 million to $19 million. In my mind $19 million is pretty close to $22 million. A shift in momentum -maybe but he is keeping pace with Hillary despite lower third quarter numbers and is still the overall leader in fundraising. In addition he has some 140,000 more new donors than Hillary does.
In reality both candidates are to be commended for their strong campaigns, reaching out to new donors and continuing to show fundraising strength. Individual donors are limited to $2100 for the primary election. An additional $2100 individual contribution can be made for the general election. Both Obama and Clinton have raised additional cash (beyond the figures reported above for the primary) which can only be used for the general election. Whoever loses will have to return these funds to the donors.
When all is said and done, summer is a hard time for any candidate to raise money. The remaining quarter before the caucuses and primaries start in January will be a real measure of whether a significant change has taken place. Once the primaries and caucuses start all bets are off as voting results will skew fundraising momentum day to day.
CNN politics reports that John Edwards came in third in fundraising with $7 million raised for the third quarter. Bill Richardson reports that he raised $5.2 million.
Official 3Q fundraising reports for all candidates are due on October 15th and are filed with the Federal Elections Commission.
In truth the public deserves better reporting than the current system requires. All candidates should be required to file monthly reports rather than quarterly reports. Washington State has had monthly reporting for a number of years, with reports due by the 10th of each month. See Washington State Public Disclosure Commission.
Monthly reporting would give the public quicker access to campaign finance records and more accountability on who’s supporting campaigns.