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Despite $66M August, Obama Needs Money

Campaign must raise $3M per day to reach $200M target

By Kevin Spak, Newser Staff

Posted Sep 15, 2008 10:55 AM CDT

(Newser) – Barack Obama raised more money in August than any presidential candidate ever, but he’s still desperate for cash, reports Politico. Obama has $77 million in the bank, close to the $85 million John McCain has to spend this general election. But McCain will benefit from outside “independent” groups Obama has spurned, and a brimming RNC war chest.

Obama’s big commitment to his unprecedented ground operation is also eating up much of his cash. Obama will have to raise $3 million per day to reach his $200 million target. “Time is not on their side and their goals are so ambitious,” said one finance expert. The situation is forcing Obama to visit solidly blue states for fundraisers, while McCain has the luxury of simply campaigning.

Campaign workers at the Obama headquarters in Chicago work near a mosaic of Obama's face made of newsprint from a local newspaper, Tuesday, Aug. 12, 2008. (AP Photo/Charles Rex Arbogast)

Campaign staff at Obama Headquarters work at in specific areas of the 33,000 square foot space in Chicago, Tuesday, Aug. 12, 2008. (AP Photo/Charles Rex Arbogast)

Democratic presidential candidate Sen. Barack Obama, D-Ill., arrives for a rally at the Veterans Memorial Park in Manchester, N.H., Saturday, Sept. 13, 2008. (AP Photo/Cheryl Senter)

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Despite $66M August, Obama Needs Money

Campaign must raise $3M per day to reach $200M target

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Despite $66M August, Obama Needs Money

Campaign must raise $3M per day to reach $200M target

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OTHER STORIES ON OUR RADAR

Barack Obama • Obama 2008 • campaign fundraising

MOST POPULAR STORIES

[ By Views ]

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More Newser Stories

Newt's Billionaire Backer Out to Beat Santorum

Sheldon Adelson is fine with Mitt Romney as nominee: Wall Street Journal

Obama, Others Won't Return Ponzi Cash

Receiver wants the $1.8M Allen Stanford gave to politicians

Chinese VP Arrives in Washington

Xi Jinping, China's next president, to meet with Obama

Detroit Bust Would've Been Better Than Bailout

Ex-Prez Bush says bailout his idea, and a good one

Obama Unveils $3.8T Budget, Targets Rich

Budget would institute 'Buffett Rule,' boost infrastructure

About Us

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Newser By Users

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