Palin raises $8 million dollars since speech!!!

[Don Vito Corleone]

Here we go.

According to the FEC, as of the end of July, Obama had just under $66M on hand, and McCain about $21.4M. Obviously that number doesn't reflect Obama's $47M fundraising in August (though I'm sure he's spent most or all of that amount in the last month) or McCain's last-minute fundraising in August.

 

[ProfJohn]

Not sure you are right on the money issue Don
link

The donations, which came in over the Internet in the hours after the speech, will add to the massive war chest that the Republican Party has built up for the fall contest. A Republican aide leaked us the news that the Republican National Committee ended the month of August with $75 million in the bank.

That?s more than the total that the Democratic National Committee and Barack Obama had in the bank at the end of July. Neither Obama nor the DNC have released their cash on hand figures for August. But the DNC had just $5 million in the bank at the end of July. Meanwhile, Sen. Obama would have been foolish to keep much money in the bank at the end of August because all money raised for the primary campaign had to be spent by the time he officially became a general-election candidate at the Democratic convention last week.

Sen. McCain had $32.8 million in the bank at the end of July, but probably has a zero balance now.

So the RNC has $75 million and McCain just got a check $84 million. That is a total of $159 million.

Highly unlikely that Obama+DNC has that kind of money at this point.

I guess we will find out when the Dems release their figures.

 

[Don Vito Corleone]

Originally posted by: mshan
Hedge fund managers?

(Average donation to Obama overnight seems to have been about $65)

I just sent him another $100.

 

[Don Vito Corleone]

Originally posted by: ProfJohn

So the RNC has $75 million and McCain just got a check $84 million. That is a total of $159 million.

Highly unlikely that Obama+DNC has that kind of money at this point.

I guess we will find out when the Dems release their figures.

I don't think it really makes sense to simply add the RNC total to the McCain total, since they will presumably allocate that money between many different campaigns, and the McCain campaign can't raise any more money (though I now believe I was wrong that the RNC can't simply spend its money on McCain ads). I am quite sure, however, that Obama will raise more than another $85M to match the amount McCain is taking in public funds, given that he just raised $47M in August and another $10M in a single day. I guess we'll see . . .

I was always a supporter of McCain-Feingold, but obviously it's so full of holes that it's like a sieve and doesn't really restrict campaign fundraising - it's just a little ironic that McCain is himself now motivated to work the margins of the law. I am in no way implying he's doing anything wrong - it just seems funny under the circumstances.

 

[sammyunltd]

Obama will end up regretting his decision to refuse public money. After all, it's free moneyz since every donation collected by the DNC can be used for its campaign.

This decision has not really helped him in the polls either.

 

[Don Vito Corleone]

Originally posted by: sammyunltd
Obama will end up regretting his decision to refuse public money.

You think? I don't see it. He has marshaled the most successful private funding campaign in history. I would be stunned if he can't easily outearn the money he would have received through public funding. Having the money in his campaign's hands, rather than in the hands of the DNC, allows him to run active campaigns even in traditionally Republican states, and strong campaigns in swing states. All the DNC could have used the money for is ads.

 

[ProfJohn]

Don, I think you missed his point.

Obama could have taken that $84 million and spent it on his campaign.
And then he could have funneled all the other money he is raising to the DNC would could also spend it to help Obama.

I am pretty sure that the RNC and DNC can spend money to help the candidates, they just can't "coordinate" how they spend money. It is a loop hole big enough to drive a dump truck full of money through.

 

[fskimospy]

Originally posted by: ProfJohn
Don, I think you missed his point.

Obama could have taken that $84 million and spent it on his campaign.
And then he could have funneled all the other money he is raising to the DNC would could also spend it to help Obama.

I am pretty sure that the RNC and DNC can spend money to help the candidates, they just can't "coordinate" how they spend money. It is a loop hole big enough to drive a dump truck full of money through.

No, there are tons and tons of things the RNC and DNC can't do with the money they have. Just go spend some time reading up on finance rules. Obama's not a moron, if he could have just funneled all his cash to the DNC without repercussions he would have done it.

 

[Don Vito Corleone]

Originally posted by: ProfJohn
Don, I think you missed his point.

Obama could have taken that $84 million and spent it on his campaign.
And then he could have funneled all the other money he is raising to the DNC would could also spend it to help Obama.

I am pretty sure that the RNC and DNC can spend money to help the candidates, they just can't "coordinate" how they spend money. It is a loop hole big enough to drive a dump truck full of money through.

I don't believe you're correct. The party can't itself run campaign activities for him - it can run ads but can't pay his campaign staff, pay for expenses to run his state and local offices, etc. This is the reason he didn't take the public funds. If this were not true there would have been no rhyme or reason behind his decision to deny public funds - why else would he refuse $85M?

 

[fallout man]

Originally posted by: Ballatician
That darn liberal. McCain will be alright, if he's ever strapped for cash, Mrs. McCain could always sell her $300,000 outfit from the RNC. Down with those elitist liberals!!

http://www.vanityfair.com/onli...ins-300000-outfit.html

JUMPIN' JESUS ON A POGO STICK!!!!1 Cindy wore $280,000 earrings? The unmitigated gall of these people. For fuck's sake.

 

[ProfJohn]

I think he refused it because he thought he could get more.

I think we need to see the August figures for both sides to get a better sense of what is going on.

 

[ProfJohn]

Back on topic... The RNC claims to have raised $17 million in the last two days.
link

 

[Don Vito Corleone]

Originally posted by: ProfJohn
I think he refused it because he thought he could get more.

I think we need to see the August figures for both sides to get a better sense of what is going on.

Clearly he almost certainly CAN get more, but if the law were as you say (that the party could accept unlimited funds and spend them on his campaign, PLUS he would receive a free $85M), it would have made no sense for him to turn the money down.

There are a lot of articles on this from when he decided to turn the money down, and even the McCain camp was conceding that the decision would allow him to handily outspend the McCain campaign.

 

[ProfJohn]

I think the idea of him spending more changed when McCain started to rake in more money in the last month or so.

His August total was his best year at nearly $50 million.

Back in the spring McCain was taking in a LOT less than Obama, but that changed after McCain won the nomination. In addition Obama had to spend a LOT more money in his long fight with Hillary.

At the end of the day I don't think it comes down to money though, both sides seem to have more than enough to compete on fairly even ground.

 

[Don Vito Corleone]

Originally posted by: ProfJohn
I think the idea of him spending more changed when McCain started to rake in more money in the last month or so.

His August total was his best year at nearly $50 million.

Back in the spring McCain was taking in like a LOT less than Obama, but that changed after McCain won the nomination. In addition Obama had to spend a LOT more money in his long fight with Hillary.

At the end of the day I don't think it comes down to money though, both sides seem to have more than enough to compete on fairly even ground.

This doesn't make sense, since McCain's contributions over the past month now have to be given to the party, whereas Obama can freely use the money he has in his coffers, and continue to accept more donations.

Fortunately, as you say, I don't think money will be a central issue, in that both camps seem to have plenty, but it appears the Obama campaign itself will be much better funded, since it is starting the general election season with the better part of $85M and will likely raise another $100M over the next two months (I see no reason to believe fundraising will decrease now that it's at its most critical).

I look forward to the debates, starting on 9/26. The next few weeks will just be a lot of empty taunts back and forth between the two campaigns. Luckily I don't really believe that either Senator McCain or Senator Obama is really personally interested in petty attacks, even if their campaigns are.

 

[fskimospy]

Originally posted by: ProfJohn
I think the idea of him spending more changed when McCain started to rake in more money in the last month or so.

His August total was his best year at nearly $50 million.

Back in the spring McCain was taking in like a LOT less than Obama, but that changed after McCain won the nomination. In addition Obama had to spend a LOT more money in his long fight with Hillary.

At the end of the day I don't think it comes down to money though, both sides seem to have more than enough to compete on fairly even ground.

No, both sides really don't have more than enough to compete on even ground. While the RNC has more money than the DNC they are deep in the hole for both Congressional and Senate races. Like... really badly in the hole.

Obama has been simply crushing McCain in fundraising even after McCain secured the nomination. As of last month Obama had raised more than $400 million total to McCain's $170 million. Obama has certainly spent far more, but a lot of that was to set up organizations that still pay off to this day, and as of the last full report for both candidates Obama had almost $70 million on hand (coming close to as much as McCain will have with all of his public financing)

So no, it's not even. McCain is losing horribly in the money race and this month is unlikely to change that.

 

[her209]

Originally posted by: Common Courtesy
Why is Palin getting the credit?

Ironically, its probably because she (along with Rudy) belittled Obama's community work.

 

[jpeyton]

I think Obama will raise closer to $150 million total in Sept/Oct with the way donors have doled out following the DNC.

 

[ProfJohn]

Don, I agree that it will come down to the debates. Or perhaps the negative ads that pop up in the next two months.

I don't think Palin or McCain's speech is going to cause some great swing their way and put them ahead now. More likely we get back to being close to even.

Which means there are really only two things that can have a major impact on the election.
1. The debates
2. Some negative ad that grips the publics attention. (such as the Swiftboat or Willie Horton ads)

It is also very possible that we go into election day with a close to dead heat and everyone holding their breaths.

 

[Infohawk]

Originally posted by: ProfJohn
"How they could have kept the Palin pregnancy out of the press: Leaked it that John Edwards was the father."

That doesn't really make any sense. John Edwards' cheating was big news. Is it some peverse fundie wet-dream that B. Palin was statutorily raped by a Democrat?

 

[ProfJohn]

Originally posted by: Infohawk

Originally posted by: ProfJohn
"How they could have kept the Palin pregnancy out of the press: Leaked it that John Edwards was the father."

That doesn't really make any sense. John Edwards' cheating was big news. Is it some peverse fundie wet-dream that B. Palin was statutorily raped by a Democrat?

You seem to have forgotten that it took 9 months for it to become 'big news'

That is the heart of the joke.

 

[KK]

Why the fvck anyone would donate their money to any of these morons is beyond me. Your money would be better used by donating to some charity or being burnt in the fireplace to keep warm.

 

[Don Vito Corleone]

Originally posted by: ProfJohn

Originally posted by: Infohawk

Originally posted by: ProfJohn
"How they could have kept the Palin pregnancy out of the press: Leaked it that John Edwards was the father."

That doesn't really make any sense. John Edwards' cheating was big news. Is it some peverse fundie wet-dream that B. Palin was statutorily raped by a Democrat?

You seem to have forgotten that it took 9 months for it to become 'big news'

That is the heart of the joke.

In all fairness, Edwards was never really a serious threat to become President or even VP during that time, and I imagine to some extent people were wary of reporting on it for fear of creating more problems for his poor wife.

I don't feel (though I'm sure you'll disagree) that the media is piling on Palin, and certainly not for her gender - it's just that she was an unknown on the national scene and it appears she was only minimally vetted, and now she's suddenly the most famous woman in America. There seem to be a lot of skeletons in her closet (some bigger than others) that are all rushing out at once. I still believe she was a questionable pick, but in any case it's hardly surprising that she has attracted so much attention. To some extent it's a tribute to her - if she had really screwed the pooch in her speech last night, I think the media would largely presume McCain was doomed and be less motivated to dig into her personal and professional life.

 

[winnar111]

Originally posted by: eskimospy

Originally posted by: ProfJohn
I think the idea of him spending more changed when McCain started to rake in more money in the last month or so.

His August total was his best year at nearly $50 million.

Back in the spring McCain was taking in like a LOT less than Obama, but that changed after McCain won the nomination. In addition Obama had to spend a LOT more money in his long fight with Hillary.

At the end of the day I don't think it comes down to money though, both sides seem to have more than enough to compete on fairly even ground.

No, both sides really don't have more than enough to compete on even ground. While the RNC has more money than the DNC they are deep in the hole for both Congressional and Senate races. Like... really badly in the hole.

Obama has been simply crushing McCain in fundraising even after McCain secured the nomination. As of last month Obama had raised more than $400 million total to McCain's $170 million. Obama has certainly spent far more, but a lot of that was to set up organizations that still pay off to this day, and as of the last full report for both candidates Obama had almost $70 million on hand (coming close to as much as McCain will have with all of his public financing)

So no, it's not even. McCain is losing horribly in the money race and this month is unlikely to change that.

Seems rather foolish for the RNC to blow significant expenditures on Congress when they're going to lose there anyway. I don't think that will be a major factor.

 

[rockyct]

Originally posted by: eskimospy

Originally posted by: ProfJohn
I think the idea of him spending more changed when McCain started to rake in more money in the last month or so.

His August total was his best year at nearly $50 million.

Back in the spring McCain was taking in like a LOT less than Obama, but that changed after McCain won the nomination. In addition Obama had to spend a LOT more money in his long fight with Hillary.

At the end of the day I don't think it comes down to money though, both sides seem to have more than enough to compete on fairly even ground.

No, both sides really don't have more than enough to compete on even ground. While the RNC has more money than the DNC they are deep in the hole for both Congressional and Senate races. Like... really badly in the hole.

Obama has been simply crushing McCain in fundraising even after McCain secured the nomination. As of last month Obama had raised more than $400 million total to McCain's $170 million. Obama has certainly spent far more, but a lot of that was to set up organizations that still pay off to this day, and as of the last full report for both candidates Obama had almost $70 million on hand (coming close to as much as McCain will have with all of his public financing)

So no, it's not even. McCain is losing horribly in the money race and this month is unlikely to change that.

Yeah, a $100 donation to the RNC does not mean that $100 will be used to elect McCain. I have no idea how much of it would be, but with so many Republican held seats now competitive, money is going to be tight.

I'm not sure Obama's fundraising ability is a massive advantage, but it does help. He also showed that he can run a campaign will limited resources after the ground work he did in 2007 basically won him the nomination after Clinton failed to win it on Super Tuesday.

Eventually McCain is going to have to start removing resources from states like PA, MN, MI, and IA if he can't close the gap in those states. That's when Obama's fundraising is really going to start to show.