Mar 9, 2014
The .0000063% Election
Posted on Feb 18, 2012
By Ari Berman, TomDispatch
The campaign has 445 “bundlers” (dubbed “volunteer fundraisers” by the campaign), who gather money from their wealthy friends and package it for Obama. They have raised at least $74.4 million for Obama and the DNC in 2011. Sixty-one of those bundlers raised $500,000 or more. Obama held 73 fundraisers in 2011 and 13 last month alone, where the price of admission was almost always $35,800 a head.
An increase in small donor contributions and a surge of big money fundraisers still wasn’t enough, however, to give Obama an advantage over Republicans in the money chase. That’s why the Obama campaign, until recently adamantly against super PACs, suddenly relented and signaled its support for a pro-Obama super PAC called Priorities USA.
A day after the announcement that the campaign, like its Republican rivals, would super PAC it up, Messina spoke at the members-only Core Club in Manhattan and “assured a group of Democratic donors from the financial services industry that Obama won’t demonize Wall Street as he stresses populist appeals in his re-election campaign,” reported Bloomberg Businessweek. “Messina told the group of Wall Street donors that the president plans to run against Romney, not the industry that made the former governor of Massachusetts millions.”
In other words, don’t expect a convincing return to the theme of the people versus the powerful in campaign 2012, even though Romney, if the nominee, would be particularly vulnerable to that line of attack. After all, so far his campaign has raised only 9% of its campaign contributions from small donors, well behind both Senator John McCain, 21% in 2008, and George W. Bush, 26% in 2004.
In a recent segment of his show, Stephen Colbert noted that half of the money ($67 million) raised by super PACs in 2011 had come from just 22 people. “That’s 7 one-millionths of 1 percent,” or roughly .000000071%, Colbert said while spraying a fire extinguisher on his fuming calculator. “So Occupy Wall Street, you’re going to want to change those signs.”
Ari Berman is a contributing writer for The Nation magazine and an investigative journalism fellow at The Nation Institute. His book “Herding Donkeys: The Fight to Rebuild the Democratic Party and Reshape American Politics” (Picador) is now out in paperback with a new afterword. Follow him on Twitter @AriBerman.
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Copyright 2012 Ari Berman
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