President Obama is set to address a Democratic fundraiser later this month—the first such event of his presidency—but the money might not flow from donors cowed by recession and overextended after the recent election, Bloomberg reports. “Nonetheless,” said a White House deputy press secretary, “the president feels a responsibility to help Tim Kaine build a party that will be an effective force for progress,” referring to the new DNC chair.
“After an election cycle, you’re dealing with donor fatigue,” said one Congresswoman involved in House fundraising. “Then you have the added layer of difficulty of the economy really hitting people hard.” Still, the Obama wow-factor could bring the bucks regardless. “Presidential events are a lot more recession-proof than your normal fundraising activities,” one veteran said.