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Started by R McCartney; Last updated Feb 28, 08 1:51 PM CST by D Lim | View history

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Campaign Finance

Beyond the poll numbers is an ongoing race to raise money

The 2008 Presidential Election is turning out to be the most expensive race in American history. Although it's not a top issue on anyone's platform, campaign finance is a driving force in almost every presidential hopeful's run for election. Bank balances are mentioned in the same breath as poll numbers and many candidates have dropped out for lack of funds in what FEC Chairman Michael Toner predicts will be a "$1 billion election."

Stories

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July 2008
- Obama Raises $25M in a Single Day
  
  newser | Politico | Jul 21, 08 11:47 AM CDT
  
  Barack Obama brought in more donations on the last day of June than John McCain did in the entire month, Politico reports. The unprecedented $25 million day accounted for nearly half of Obama’s $54 million total. It was one of five days on which the campaign brought in more than $1 million; John McCain had no million-dollar days en route to raising $22 million in June. More »
- Clinton Lends Campaign $1M as Debts Mount
  
  newser | New York Times | Jul 21, 08 6:07 AM CDT
  
  Hillary Clinton lent her suspended presidential campaign an additional $1 million at the end of last month, according to filings with the Federal Election Commission. The newest self-loan—the New York senator has now lent herself $13.2 million—underscores how much difficulty she is facing in retiring her mountain of debt. A Clinton spokesman told the New York Times that the new loan was to "pay immediately outstanding debts." More »
- Obama Rakes in $52M in June
  
  newser | Reuters | Jul 17, 08 8:31 AM CDT
  
  Barack Obama is back up in the fundraising stratosphere, pulling in $52 million in June, the campaign said today. The total is just shy of the record $55 million he drew in February, and it more than laps John McCain’s $22 million take in June. The total lays to rest speculation that Obama was in for another down month after raising “only” $30 million in April and $21.9 million in May. More »
- McCain's Elite Fundraisers Trump Obama's
  
  newser | USA Today | Jul 16, 08 5:45 PM CDT
  
  John McCain appears to be more reliant on funds bundled by elite supporters than Barack Obama, USA Today reports. More than half of the Republican candidate’s receipts, or more than $75 million, came from donations assembled by about 500 top supporters. In contrast, Obama’s top 500 pulled in about $50 million, about 17% of his total. More »
- McCain Again Banking on Reform Rep
  
  newser | Politico | Jul 16, 08 2:38 PM CDT
  
  After shying away from the issue for some time, John McCain is returning to his credentials as a crusader for campaign-finance reform, Politico notes. In an attempt to woo independent voters, the Republican is underlining his reputation as a Washington reformer, while coping with flak from small-government conservatives within his party—comparing himself to Teddy Roosevelt in the process. More »
- Spitzer 2010 Was Billed for Tryst Hotel
  
  newser | New York Times | Jul 16, 08 6:58 AM CDT
  
  Eliot Spitzer's filings for his now-defunct 2010 reelection campaign, released yesterday, included two payments to the Mayflower Hotel in Washington—the site of his infamous trysts with call girls, the New York Times reports. Though it's unclear whether Spitzer himself stayed there, and if so on what nights, misuse of public campaign money is one of the potential charges the former New York governor could face for his participation in a prostitution ring. More »
- McCain Backers Finding Ways Around Law He Sponsored
  
  newser | Wall Street Journal | Jul 3, 08 2:30 PM CDT
  
  Desperate to keep up with Barack Obama's powerful fundraising apparatus, John McCain’s allies have found ways of skirting the very campaign finance laws the Arizona senator helped write, the Wall Street Journal reports. Republican strategists are pushing donations toward a fund used to elect governors—not subject to dollar limits—on the theory that state-level pushes will boost the top of the ticket. More »
- Rising New Money Class Powers Obama
  
  newser | New York Times | Jul 1, 08 8:56 AM CDT
  
  Barack Obama likes to tout his small-donor network, as though a wave of inspired regular folk came out of the woodwork just for him. In reality, Obama is mining a money class that Democrats have been cultivating for years, writes David Brooks in the New York Times —"the rising class of information age analysts." More »
June 2008
- Barack Writes Campaign Check to Hillary
  
  newser | Associated Press | Jun 27, 08 3:15 AM CDT
  
  Barack Obama made a personal $4,600 donation to Hillary Clinton's campaign—a gesture to win over her supporters as the Democratic party tries to unify following the divisive campaign for the nomination. Obama told a meeting of 200 top Clinton fundraisers he's encouraging his donors to help pay off Clinton's $20 million campaign debt. "I'm going to need Hillary by my side campaigning during his election, and I'm going to need you," Obama said. More »
- Justices Nix 'Millionaire's Amendment' for Campaigns
  
  newser | Associated Press | Jun 26, 08 3:20 PM CDT
  
  The Supreme Court today voided the “millionaire’s amendment,” ruling by 5-4 that the law—which raised donation limits for candidates who face wealthy, self-financed opponents—violates the First Amendment, the AP reports. The majority said it would have been a different story if all candidates saw their limits raised. Notably, Barack Obama (in his Senate primary) may be the biggest beneficiary of the 2002 law to date. More »
- McCain, Obama Raise $21M Each
  
  newser | MSNBC | Jun 21, 08 12:11 PM CDT
  
  John McCain nearly matched Barack Obama’s fundraising intake last month, granting the presumptive Republican presidential nominee “a level of parity that would have been unimaginable just a few months ago,” MSNBC says. McCain scored $21.5 million while Obama, whose fundraising slumped to its lowest levels of the year, pulled in $21.9 million. More »
- MoveOn Axes Big-Money Fundraising Arm
  
  newser | Talking Points Memo | Jun 20, 08 3:17 PM CDT
  
  One day after Barack Obama became the first candidate since Watergate to reject general election public financing, a prominent liberal grassroots group has disbanded its 527 operation. "We, like Senator Obama, believe that this election can be won by ordinary Americans giving small donations,” MoveOn said in a statement. This cuts MoveOn off from labor, foundation and big-donor money, Talking Points Memo reports. More »
- Forget the Small-Donor Myth: Big Money Still Rules
  
  newser | Washington Post | Jun 20, 08 12:05 PM CDT
  
  Barack Obama often talks about how much money he’s raised from small donors, even describing it as “a parallel public financing system.” But while Obama has indeed raised record sums from little guys, big donors have kept pace , writes Jay Mandle of the Washington Post, predicting that when the dust settles, their 2008 role will have increased, rather than decreased. Through March, he notes, Obama's small-donor percentage was actually smaller than John Kerry's. More »
- Obama's a Pragmatist, Not a Reformer
  
  newser | Politico | Jun 20, 08 11:06 AM CDT
  
  Barack Obama’s decision to opt out of the public financing system shouldn’t come as a surprise, writes Politico’s Ben Smith. Obama has been inching away from the money for a long time now, proving once again that he’s not a traditional reformer—he’s a pragmatist. Obama comes from a community organizing tradition that focuses on results, not methods. More »
- Death Knell Tolls for Campaign Finance
  
  newser | New York Times | Jun 20, 08 7:48 AM CDT
  
  Barack Obama's decision to forgo public financing for his presidential campaign represents the biggest challenge yet to the troubled, loophole-filled system. But while the Illinois senator is now poised to spend a record amount to win the presidency, the explosion of Internet donations that have propelled his campaign might actually be more successful at offsetting the power of special interests, writes the New York Times . More »
- McCain Blasts Obama for Declining Funds
  
  newser | Politico | Jun 19, 08 1:00 PM CDT
  
  Following fast on Barack Obama’s decision to abandon public financing, a McCain rep said the Dem has failed “the true test of a candidate”—whether he'll stick to his word, Time reports. But Politico notes that an Obama rep blamed McCain: “Our campaign counsels met, and it was immediately clear that McCain’s campaign had no interest in the possibility of an agreement.” More »
- Obama Opts Out of Public Financing
  
  newser | Associated Press | Jun 19, 08 9:24 AM CDT
  
  Barack Obama has opted out of public financing in the general election, the AP reports, reversing a joint pledge made last year with John McCain to spend only the $84 million in taxpayer cash between the party conventions and Election Day. While McCain appears set to accept public financing, Obama has since proved a fundraising juggernaut—and has long hinted he’d stick with private cash. More »
- Short On Cash, Democrats Trim Convention
  
  newser | Associated Press | Jun 17, 08 11:30 AM CDT
  
  Democrats are scaling back their national convention plans in the face of fundraising shortfalls, the AP reports. The Denver host committee has just $29 million of the $40.6 million it promised to deliver by yesterday. The committee says it’s confident it’ll get the money before the convention begins Aug. 25, but organizers are shaving $3 million off events and vendor obligations. More »
- Giuliani Will Stump for GOP, for a Price
  
  newser | New York Times | Jun 14, 08 7:29 AM CDT
  
  Rudy Giuliani has offered to appear at fundraisers for cash-strapped Republican candidates but with strings attached, the New York Times reports. The former New York mayor wants a cut of the proceeds to go towards paying off his presidential campaign's $3.6-million debt. The debt includes a $500,000 personal loan from Giuliani, who is worth an estimated $30 million. More »
- Campaign Debt? What Campaign Debt?
  
  newser | Politico | Jun 12, 08 9:58 AM CDT
  
  Some clever and mostly legal accounting tricks could minimize Clinton's big campaign debt and leave her with cash on hand for king-making or another future campaign, reports Politico. Hillary could reclassify her own loans to the campaign as contributions, ask donors to redirect their cash to her Senate campaign, and take it slow on repaying understanding debtors. More »

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01-07-07_2124 ((c) VirtualErn)

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Fred Thompson Supports McCain/Feingold Campaign Finance (springfield3100 (YouTube))

Rudy Giuliani on campaign finance reform (giulianirecord (YouTube))

Romney on Campaign Finance Reform (GovMittRomney (YouTube))

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Related Threads

Election 2008 • Obama 2008 • Clinton-Obama Tussle • Clinton 2008 • Obama Rakes It In • McCain 2008 • A House Divided • A New York President? • The Hillary Endgame • Presumptive Nominee Mac

Background

Wikipedia Entry for Campaign Finance
Wikipedia

Campaign finance refers to the means by which money is raised for election campaigns. As campaigns have many expenditures, ranging from the cost of travel for the candidate and others to the purchasing of air time for TV advertisements, candidates often spend a great deal of time and effort raising...

» Read more about Wikipedia Entry for Campaign Finance at Wikipedia

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