Democratic Party fundraising slumps in August

CHICAGO Sun Sep 11, 2011 12:18am EDT

U.S. President Barack Obama delivers remarks at the University of Richmond about the American Jobs Act in Richmond, Virginia, September 9, 2011. REUTERS/Kevin Lamarque

U.S. President Barack Obama delivers remarks at the University of Richmond about the American Jobs Act in Richmond, Virginia, September 9, 2011.

Credit: Reuters/Kevin Lamarque

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CHICAGO (Reuters) - The Democratic National Committee raised about $5.5 million in August, its worst fundraising month of the year, down from $6.7 million in July, according to figures provided by Democratic officials on Saturday and Federal Election Commission filings.

The low fundraising figure for August was confirmed by a senior Democratic official, who said it would not be officially disclosed until September 20.

Both the Democratic National Committee (DNC) and President Barack Obama's re-election campaign were forced to curtail fundraising during the summer because of the negotiations with congressional Republicans over raising the debt limit, which led Obama to cancel fundraisers around the country.

The summer before an election year also is traditionally a relatively slow time for fundraising.

Obama, with slumping job approval ratings amid ongoing economic worries, is seeking re-election in November 2012.

For the year 2011 to date, the DNC and Obama's campaign have raised roughly $118 million, according to a presentation Saturday from DNC Treasurer Andrew Tobais and DNC National Finance Director Jane Stetson. The finance officials disclosed the figure to a meeting of the DNC.

The $118 million includes $20.6 million raised by the DNC in the first quarter of the year, $86 million raised by the DNC and the Obama campaign in the second quarter, $6.7 million raised by the DNC in July, and roughly $5.5 million in August, a Democratic official said. The official said the numbers are preliminary and may change when formally reported.

The figure does not include most of the funds raised by Obama's campaign in the third quarter, which will end on September 30, according to Democratic finance officials.

Democratic Party Chairwoman Debbie Wasserman Schultz, who led her first full committee meeting, said the party needs to rally behind Obama's $447 billion jobs plan aimed at jump-starting the economy and hiring, as well as his own re-election prospects.

"There is only one job the Republicans care about ... Barack Obama's," Wasserman Schultz said at the meeting for the committee's top brass in Chicago Saturday.

(Reporting by Eric Johnson and Kim Dixon; Editing by Tim Gaynor and Greg McCune)

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Comments (8)
KimoLee wrote:
To heck with all American politicans. They’re a bunch of phonies. I’m not voting for the lesser of two evils anymore. The majority of Americans disapprove of the U.S. Congress. Hence, we don’t have a democracy anymore. Politicians don’t serve the people. They’re self-serving.

Sep 10, 2011 12:45am EDT  --  Report as abuse
PessimistNJ wrote:
@KimoLee, an under statment if anything my friend. American politicians have become the finest politicians money can buy. It seems to me that government of the people, by the people, for the people, has perished from the earth. We have become a government of the money, by the money, for the money.

How many jobs are lost every year because companies in corporations use money that could be earmarked to higher employees instead the money goes to PACs to buy the political process…

The best thing americans can do is vote for independent candidates. Does it really matter what that person stands for it’s not really gonna make that much of a difference in our government. It will just send a message to both parties that the status quo by your american politicians has ended. Then you will see a change but untill the american people unite and decide to end this it will only get worse.

Sep 11, 2011 10:50am EDT  --  Report as abuse
Speaker2 wrote:
Well until Democratic gets a backbone again, especially the President, I will not be sending them any money anytime soon.

Sep 11, 2011 11:13am EDT  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

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