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July 24, 2008 7:17:53 AM CDT

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Dem Donations Hit Record High

Posted Jan 1, 08 3:48 PM CST in Politics 

(Newser) – The race for the presidency is crowded, but that isn't stopping candidates from raising huge sums of money, the Washington Post reports. The power of the internet to raise cash from both grassroots supporters and wealthy donors is credited with helping Hillary Clinton and Barack Obama raise over $100 million each in 2007. It's the first time in history two candidates have passed that benchmark before a primary.

"It's unprecedented," said a Democratic fundraising veteran. "The amounts just keep growing. I don't know if there is an upper limit." GOP hopefuls lag the Dems in online fundraising efforts, although Texan outsider Ron Paul broke records by pulling in $6 million in a single day in December and flirting with $20 million in the fourth quarter, Bloomberg reports.

Sources Washington Post, Bloomberg

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Howard Dean's 2004 campaign is said to have revolutionized the way candidates raise money online. Barack Obama has combined new methods with more traditional ways of reaching wealthy donors.   (Getty Images)
Democratic presidential hopeful, Sen. Hillary Rodham Clinton, D-N.Y., gestures at a campaign fundraiser in San Francisco, Tuesday, Dec. 11, 2007, with billionaire investor Warren Buffett. Hillary Clinton...   (Associated Press)
Democratic presidential hopeful Barack Obama speaks during a campaign fundraiser Friday, Oct. 26, 2007, in St. Louis. (AP Photo/Jeff Roberson)   (Associated Press)
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Barack Obama  • Hillary Clinton  • election 2008  • Internet  • campaign fundraising  • campaign finance  • Ron Paul  • campaign contributions


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