Is Obama "cash poor"?

[woolldog]

This article in Politico is suggesting that he's running out of cash.

Cash-poor Obama says no to Reid
By JOHN BRESNAHAN | 9/16/08 4:41 AM EDT
http://www.politico.com/news/stories/0908/13485.html

Earlier this month, Senate Majority Leader Harry Reid made a personal appeal to Barack Obama: Help me grow the Democrats’ Senate majority by sharing some of the $77 million you’ve got in the bank.

Obama’s campaign said no.

Although Democratic insiders say a better deal could still come, the Obama campaign so far has agreed only to let Senate Democrats use Obama’s name — as well as those of his wife and running mate — in mail and online fundraising pitches. The campaign has planned no joint fundraising events with House or Senate Democrats, and insiders say none is likely to be held before Election Day.

In rejecting a direct request from his Senate leader, Obama has put a fine point on the financial pressures he’s feeling as the presidential race turns toward the fall.

Obama raised a record-setting $66 million in August, leaving his campaign with about $77 million in cash now. Because he has turned down public financing, he can keep raising money through Election Day. John McCain, having accepted public financing, can’t do that — but he already has the $84 million in public money in his campaign coffers.

More importantly, McCain will get substantial help from the Republican National Committee — which has dramatically outraised its Democratic counterpart — and the Republican Party’s state and local committees.

........

[Alter Ego]

1. The only org that's lagging is the DNC.

The DCCC, DSCC, and Obama's campaign are clobbering their Republican counterparts in fundraising--the DNC is the only group that gets consistently trounced by its Republican opposite number.

[Median Democrat]

2. The Republicans Are Throwing All Their Money Into Presidential Race

According to a WaPo story today, which gives McCain access to $200 million cash on hand. In contrast, Obama is largely self supported because the DNC wants to use the money nationwide.

[cynatnite]

4. McCain is limited on the money he can get, IIRC...

Obama doesn't have those limits.

[Median Democrat]

6. Not True According To WaPo - GOP Is Using Loopholes

The Obama campaign, of course, has $94 million on hand. Of course, Obama can continue to raise money, but unlike McCain, Obama cannot simply count on the corporate types to routinely cough up $70,000 each. One heeled McCain donor can equal nearly 140 individual $500 Obama donors. The only way Obama is competitive is through the sheer number of his donors.

http://www.washingtonpost.com/wp-dyn/content/article/2008/09/16/AR2008091603321.html

/snip

While McCain had to stop raising money for his campaign committee after he accepted the GOP nomination in St. Paul, Minn., earlier this month, he has hardly been idle. On Monday night, he helped bring in more than $5 million at a Miami hotel, and his campaign has found ways to both raise money and spend it through coordinated efforts with the RNC. According to Republican sources, money is pouring in to a joint fundraising committee that can legally accept up to $70,000 from a single donor. Contributions made through McCain's Web site have quadrupled in recent days, according to party officials. The site routes potential donors to a separate page that collects money for the joint committee, distributing money to the RNC, state Republican party accounts, and a compliance fund that pays the McCain campaign's legal bills. The message on the site says, "The best way to help our campaign is to give to McCain-Palin Victory 2008."

/snip

[cynatnite]

9. Thanks for that...

Not surprised at their 'under the table' shenanigans.

[Hamlette]

13. exactly, the GOP STILL has WAY more money than we do

give all you can.

[woolldog]

5. So he is cash poor then?

Can he borrow money if he needs to?

[BattyDem]

3. If people donated money to Obama, that money should support his campaign ... period.

I want the Dems to win and I know they need money, but it would be a better idea to have Obama ask his donors to give to the Democratic Party. It would be wrong for Obama to give away the money his supporters gave to HIM. JMHO


edited: typo :blush:

[grantcart]

7. Obama has set up a firewall all around his campaign.

Even in our CD he won't share the names of his supporters here.


He is playing it close to his chest - its smart and tough.


If Reid was doing his job he would have more than enough money,


There is a reason we aren't sending out $ 25 to Harry Reid.

[Cha]

12. Yeah, ya do what ya gotta do..

to win. Takes a lot of money to fight the indefatigable monied lies of the gop.

[wvbygod]

8. He made nine million last night in Hollywood

His poverty is overrated methinks.

[PolNewf]

11. Took in 11 million

Republicans are gaming the system tho. Obama is shattering records but it is only keeping him competetive.

[PolNewf]

10. Obama would have been screwed if he took public financing n/t

[woolldog]

14. yes. somehow the RNC is able to raise much much more than

the DNC. I don't know why.

[democracy1st]

15. Corporate money and inherited wealth...Look at Trump at all these

ultra rich idiots that can't stand paying taxes.

[DonMeyer]

16. 9 million last night!

I don't think Barack will run out of money, but he does need to spend it wisely. In Colorado, we get about 3 Obama ads every 30 minutes and 3 MCCain ads right after.