Obama's $52 Million: What It Means
1. When Obama's cash reserves are combined with the DNC's, the party has about $92 million to spend right now -- a few million less than John McCain and the RNC.
2. The average contribution was $68.00, which does not tell us how much of the $52 million came from $2300 checks. Obama spent more time at fundraisers this month than at any time in the past.
3. Some big-mouthed Obama donors had predicted a $100 million month. Other naysayers had guessed something much less.
4. It's hard to figure out what expectations ought to be. On the one hand, $52 million is an enormous amount of money. On the other, it's unclear how or whether the Obama campaign can sustain that pace going into July and August and September; if they do, he'll raise $250 million.
5. $50 million of the $52 million can be spent before the convention; it's not clear right now how much general election cash Obama has banked.
From: David Plouffe, BarackObama.com
Date: Thu, Jul 17, 2008
Subject: June Numbers
Keep the Momentum Going We have some big news we want to share with you.
Because of your generosity and commitment, we're reporting to the press today that this campaign is in a very strong financial position.
In the month of June, supporters like you helped raise $52 million.
But more impressive than the number is how you did it. Hundreds of thousands of ordinary people contributed to building our campaign for change. Many were first-time donors, giving only what they could afford -- and the average donation was just $68.
You continue to prove what ordinary Americans committed to change can accomplish, despite the Washington lobbyists and special interest PACs funding so much of our opponents' campaign.
But we can't stop now.
It's going to take everything we've got to defeat John McCain and the Republican National Committee in November. And we can't do it without your continued support.
Can you make a donation of $25 now to strengthen our movement for change?
I also wanted to share with you another promising piece of news.
The Obama campaign and the DNC ended June with a combined total of nearly $72 million in the bank. It's a healthy number. But McCain and the RNC together still have a huge cash advantage, and we need your help to close the gap.
As I mentioned in my video message to you earlier in the week, we're facing a Republican machine with unprecedented resources at its disposal. The McCain campaign and the Republican National Committee finished June with nearly $100 million in the bank.
Our campaign does not accept donations from Washington lobbyists and special interest PACs, and neither does the Democratic National Committee. But John McCain and the RNC have no such standards.
Along with the vast amounts of unregulated money being raised by shadowy outside groups, there's no telling how much they'll spend running attack ads.
We must work together and fight back against their efforts.
Please make a donation of $25 now:
I know this isn't the first time we've asked you for money, and it won't be the last.
We have developed a strategy -- a very aggressive strategy -- that will only work if our millions of supporters continue to contribute their time and their money.
We are now on the air with TV ads in 18 states -- including 14 that George W. Bush carried in the 2004 election. And in each one we're also building extensive grassroots field organizations.
It's all part of our strategy to spread Barack's positive message and compete in all 50 states.
That strategy will work, and it has to. The stakes are too high and the need for change too great. We are thrilled to be on this journey with you and thank you for all you have done so far. But victory is only possible with your continued help.
Please give $25 now:
We can't do this without you.
Obama for America