The media still has not recognized the real reason for President Obama’s new-found interest in a Super Pac, but the latest campaign finance figures confirm the view I expressed in my posting of February 8. The story put out by the Obama campaign was that in light of the huge fundraising success of Republican Super Pacs, the president was not going to go into the coming campaign unarmed. This story was largely accepted by the media.
However, the new report about fundraising in January shows that the reason for the president’s reversal was likely motivated by a much more serious problem. The Obama campaign is falling seriously behind its fundraising goals, and must begin to rely on wealthy donors who have already maxed out on their personal contributions. In January, from all donors, the president’s campaign and the Democratic National Committee, together, raised $29 million. That is far ahead of the Republicans, to be sure, but it is far behind the $36 million that the Obama campaign, alone, raised at this point in 2008.
This is an important story—an incumbent president who is having difficulty matching the funds he raised when he was just an aspiring and underdog candidate for his party’s nomination. We’re left to wonder why the media has not remarked on this.