$1-billion campaign in reach for Obama – latimes.com

Obama and Plouffe set a new record in campaign fundraising for presidential elections back in 2008.. surpassing $750 million.. and largely through small donations and online funding….

Now they’re closing in on the goal of $1 billion for this cycle…..

That’s a looooooooooot of money……. a huge industry all of its own….

$1-billion campaign in reach for Obama – latimes.com:

$1-billion campaign in reach for Obama

President Obama

President Obama campaigns recently in Milwaukee. (Scott Olson / Getty Images / September 22, 2012)

October 2, 2012, 2:13 p.m.

WASHINGTONPresident Obama is on track to be the first $1-billion candidate.

The notion seemed almost astounding two years ago, when Republican strategists first predicted Obama could raise that much money for his reelection bid. For their part, Obama campaign officials discounted the idea that they were aiming that high, telling donors that their goal was to bring in “north of $750 million.”

Obama surpassed that mark by Aug. 31. By then, he had raised $766 million between his reelection campaign, the Democratic National Committee and two joint fundraising committees, according the nonpartisan Campaign Finance Institute.

In his 2008 bid, Obama raised $745 million through his campaign and several joint fundraising committees, and more than $100 million more in conjunction with the DNC.

To reach $1 billion this cycle, the president would need to bring in $117 million in both September and October. That seems well within his reach: Obama’s campaign and the DNC together raised nearly $115 million in August. Their take was likely even bigger in September, thanks in part to the Democratic National Convention, where campaign manager Jim Messina urged supporters to embrace a new method of donation via text messaging.

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