DALLAS - U.S. Democratic presidential candidate Barack Obama’s fortunes have been rising in the polls as the economy sinks and stock markets flounder.
But with America in the throes of the greatest financial crisis since the Great Depression — a crisis brought on by an avalanche of bad debt, falling house prices and a credit crunch — how did the Obama campaign manage to raise a record $150 million in September?
The Obama campaign said it had 632,000 new donors in September to bring its total to 3.1 million. It said the average donation for the month was less than $100.
With over $150 million in September, Obama more than doubled the $66 million he brought in for August, which had been a record.
How is Obama able to rack up such impressive figures when the economy is on the ropes and there are anecdotal reports of charities struggling in the face of the financial meltdown? Is it an indication of the excitement he has generated in his showdown with Republican rival John McCain? Do the small relatively small average amounts show Americans still have some disposable income that they can contribute to causes that are important to them?
What do you think?
(Photo credit: REUTERS/Jim Young, Oct 20, 2008, USA)
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19 comments so far
Very true. If he can raise that much money from so many people, there doesn’t appear to be a financial crisis in America. And the way he is spending, spending, spending, it doesn’t appear there is a financial crisis.
- Posted by LindaCampaign Contributions
- Posted by Robert WaymanI have been advised that Senator Obama has received contributions from such places as Lybia, if this proves to be true, isn’t this against the law? Another thing that is bothering me is why isn’t the fact that much of the money spent is because of the funding of the wars in
Iraq and Afghanistan, mainly for the development of weapons required because the previous adminstration allowed the military funding drop to the poverty level, including the pay scale and the benifits for the dependents of the one’s killed or injured in the war?
Bob w
It demonstrates that Americans are willing to invest in their future. It shows that 3 million people are willing to pay 100.00 to officially end the disasterous Bush years. I think thats worth 100 bucks.
- Posted by WayneWith money being so tight right now, I have had to do without many of the little luxuries that I used to be able to buy myself. My disposable income is definitely not what it used to be. However, I have donated money to the Obama campaign. To me, the question is not how can I afford to donate money, it’s how I can afford not donating? I think that is the general feeling of many of Obama’s supporters.
- Posted by MarieHi, it just shows how important this election is. I paid my $25 last month. I may get laid off this month and could not do more. It shadders me to have McCain and Palin who may change America into an extreme right wing country. If they view Obama as un-patriotic, what about me. I am not white. I am a new citizen. I wrote left sided Blogs. It will be so easy to paint me as non-patriotic american. I am contributing money for my freedom which I believe only Obama can deliver. I had some faith in McCain before the VP pick. After haveing seen those rallies, I am sincerely afraid. I really wish McCain provided us an alternative. Because of his choice, we only have one way to go.
- Posted by GeorgeeId say Obama is the candidate of choice. He seems to have a magnet for money even in the worst of times; he continues to outshine and outclass while McCain wilts under pressure and loses his integrity. I think America wants Obama for President in 08!
- Posted by shannonObama’s gift at fund raising is directly connected to his gift at empowering people. I’ve never donated to a political campaign before because every time I received a letter from a politician it asks for 500.00, 1000.00, 1500.00 and up. Obama’s political contribution form starts at 5.00. That empowers people. It gives everyday ordinary people the dignity of knowing they are making a difference in their world. They can have some control over their future. So many people tune out politics because they think they can’t possibly make a difference. Obama transformed the way people participate in the political process.
- Posted by Vickie from FloridaThis is the first time ever I have donated to a political campaign. The extreme negativism and hate talk motivated me to donate to Obama. Unsubstantiated attacks and innuendoes don’t fly with this American.
- Posted by sueMy question all along has been how is Obama raising this kind of money with the economy so bad. I think he was advised to drop out of the campaign financing by some big money people across the pond, so they could contribute under fake names.
- Posted by Eddie FowlerEddie
i have never donated to a presidential campaign. nor have i gone to an inauguration although i live in dc. for the first time a candidate reached out to me, the person who really can only afford to donate $25. i guess my $25 was not good enough for others. i still can’t believe no one has ever thought to appeal to regular people for whatever they can afford. the way i see it, i invested in my future, my daughter’s future, and the future of this country. and i will attend the inauguration this year!
- Posted by kay millsNot all of America is having a hard time, just mainly hard hit areas where jobs have left like Ohio, Michigan and probably a few other states are struggling. With the foreclosures that are high in Florida, California and I believe Nevada is making it difficult. I’m in Texas and was informed it’s still a thriving state and also learned that Dallas is 2nd in regards of the subprime crises not affecting us. True, there’s a few foreclosures in my area but it’s not that vast. Anything could change, but for now, I believe in Obama and what his campaign represents, so I proudly have given to his campaign and it seems to be paying off. True, it’s still 2 weeks and things could change, but whatever the outcome, it was worth it.
Go Obama/Biden 08
- Posted by TrasaFor the first time in a long time, Americans have the possibility of restoring democracy within our own borders and being seen as the great country we are around the world.
So 3.1 million of us - would someone please note that number? Surely it is unprecedented and a focus on the money obscures the magnitude of that number - 3.1 million average Americans are expressing their hopes that the disastrous polices of bush are soon to be over.
And we know the uphill fight to elect someone of quality instead of another washington insider - so we ante up. Simple really.
- Posted by lucyblueLike many of you, I have made my first ever political contributions to the Obama campaign. My first gift was during the primaries. I own a small consulting business and I unthinkingly wrote a $100 check from my business account. The check was promptly returned to me by the Obama campaign, stating clearly that they would not take corporate money. This is a pretty clear indication to me that they are living up to their commitments.
- Posted by goldmanaAgain, I am sure this does not make it to the site since you don’t publish anything you don’t agree with. It seems to me that elections can be bought…so can your future…buy it don’t work for it…The way of an Obama America…What happened to my grandparents America were we are proud of what we have worked for not what we can buy or be given by a government.
- Posted by Again3.1 million individual contributors? Come on, I’m not buying. This is fraud on an unprecedented scale. Some of you wide-eyed hopefuls may want to believe that this is America speaking with one voice, but stack these numbers against those of other elections and you will see we have a real outlier here.
- Posted by Georges CoulierPeople are contributing to the Obama campaign because they don’t want the economy to get even worse. It was the Republicans who brought us this economic disaster, with their deficit spending, tax cuts for the wealthy, and deregulation of banking. Deregulation was supposed to be pro-business, but it turned out to be like letting your grade school kids eat candy for dinner, stay up to the wee hours on school nights, and ignore their homework because you ‘love’ them. Giving business everything it wants isn’t good governance, it’s spoiling children. The results should have been predictable to any decent parent. Vote Obama to avoid the second Great Depression.
- Posted by Tim DunnIt’s easily true. I have donated to the campaign as well. All across Illinois people have been donating. At almost every function I’ve been to (block parties, fests, etc) in the last year and a half, there have been Obama tents giving t-shirts, pins, etc to people as they donate.
The amount of people donating at these tents was insane. So even if he has garnered more money than any other candidate in the past, it comes as no shock to me.
People are more unhappy with the government than at any other time, and they want to support Obama.
- Posted by DaveIf you look at the first Great Depression it was made longer and harder because of just the exact same policies Obama wants to evoke…If he gets in we will no longer be America in 4 years we will be owned by the Governments of the world and the ruler of the UN will make all the rules. You want to be in the passenger seat Vote Obama, You want to be in the Drivers seat Vote McCain!
- Posted by AgainBob W,
- Posted by EddieI agree with your statement about the military cuts by the previous administration. Pilots could not maintain proficency under the previous administration due to not enough funding for fuel and aircraft maintenance. I do think the same thing would occur under an Obama administration as he has stated he would cut the budget for defense. The only way to maintain our security is through a strong military, with constantly improving weapons and pay for military personel.
Eddie
PS: There is still too much about Sen. Obama’s past that is unknown.