Obama Campaign Pulls in $70m

Barack Obama’s campaign has raised more than $70 million over the summer months, putting the President well ahead of his Republican rivals for campaign funds.

Despite the fact he faces falling poll numbers and a spluttering economy, Obama’s supporters apparently have confidence in their man to win reelection to the White House in 2012.

In an email sent to supporters, Obama’s campaign manager Jim Messina revealed over 600,000 people donated to the campaign between July and September, with an average donation of $56. 98% of donors gave $250 or less. In total, more than 980,000 people have given money to the campaign to date. According to Messina:

“Getting to a million grassroots donors isn’t just a huge accomplishment this early in the campaign. It’s our answer to our opponents, the press, and anyone who wants to know whether the president’s supporters have his back.”

The $70m total announced yesterday easily breaks the goal of $55m set by the Obama campaign, but falls $16m short of the $86m raised during the April-June quarter. The drop has been blamed on a typical summertime lull in fund-raising, as well as the cancellation of canceled fund-raisers during the summer’s debt ceiling negotiations.

The final figure includes $42.8 million for Obama’s campaign and $27.3 million for the Democratic National Committee.

The President is leading his GOP rivals by tens of millions of dollars in fund-raising. Furthermore, the lack of a Republican primary opponent means Obama can hoard his warchest of funds until the election proper begins next year.