Published on ShanghaiDaily.com (http://www.shanghaidaily.com/)
http://www.shanghaidaily.com/sp/article/2008/200812/20081206/article_383427.htm
Obama's big budget sets record
Created: 2008-12-6
BARACK Obama's presidential campaign raised US$104 million in the weeks around Election Day, a grand finale to a successful bid that shattered fund-raising records.
Overall, Obama raised nearly US$750 million during his odyssey to the presidency, and his spending in the eight weeks before the election vastly outpaced that of his Republican rival John McCain, according to reports filed with the Federal Election Commission. The reporting period covered October 15 to November 24.
The campaign said more than 1 million contributors donated during the period, with more than half donating for the first time. Throughout the campaign, more than 3.95 million contributors gave to the eventual United States president-elect, his campaign said.
Obama's fund-raising sum was more than the combined total of the two major parties' nominees four years ago. George W. Bush and John Kerry pulled in a total of US$653 million in the 2004 primary and general election campaigns, including federal public financing money.
The final numbers underscore how pivotal the two candidates' strategies were for funding their general election campaigns: McCain accepted US$84 million in taxpayer money through the public financing system; Obama gambled that he could raise far more from private money.
The two campaigns spent identical amounts in June, US$25.6 million each.
But from there the numbers diverged widely, until a stretch in October when the Obama financial juggernaut swamped McCain. By then, the Democrat was outspending his rival four to one.
The Republican National Committee, meanwhile, was expected to report spending US$30,000 on accessories for McCain running-mate Sarah Palin.
The RNC reported in October that it had spent nearly US$150,000 on Palin for clothes and accessories. A party spokesman said the expenditures were directed by the campaign and that the garments have been returned.
While McCain was limited to spending US$84 million from September on, Obama spent US$315 million during the same period. Obama ended with a cash balance of nearly US$30 million.
Overall, Obama raised nearly US$750 million during his odyssey to the presidency, and his spending in the eight weeks before the election vastly outpaced that of his Republican rival John McCain, according to reports filed with the Federal Election Commission. The reporting period covered October 15 to November 24.
The campaign said more than 1 million contributors donated during the period, with more than half donating for the first time. Throughout the campaign, more than 3.95 million contributors gave to the eventual United States president-elect, his campaign said.
Obama's fund-raising sum was more than the combined total of the two major parties' nominees four years ago. George W. Bush and John Kerry pulled in a total of US$653 million in the 2004 primary and general election campaigns, including federal public financing money.
The final numbers underscore how pivotal the two candidates' strategies were for funding their general election campaigns: McCain accepted US$84 million in taxpayer money through the public financing system; Obama gambled that he could raise far more from private money.
The two campaigns spent identical amounts in June, US$25.6 million each.
But from there the numbers diverged widely, until a stretch in October when the Obama financial juggernaut swamped McCain. By then, the Democrat was outspending his rival four to one.
The Republican National Committee, meanwhile, was expected to report spending US$30,000 on accessories for McCain running-mate Sarah Palin.
The RNC reported in October that it had spent nearly US$150,000 on Palin for clothes and accessories. A party spokesman said the expenditures were directed by the campaign and that the garments have been returned.
While McCain was limited to spending US$84 million from September on, Obama spent US$315 million during the same period. Obama ended with a cash balance of nearly US$30 million.
Agencies
Copyright © 2001-2009 Shanghai Daily Publishing House