September 9, 2011 / 10:42 PM / 8 years ago

Obama campaign sets $55 million quarterly cash goal

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

CHICAGO (Reuters) - President Barack Obama’s campaign on Friday set a goal of raising $55 million in the third quarter of the year to benefit Obama’s re-election and the Democratic National Committee, a lower figure than he raised in the previous three-month period.

Obama’s campaign laid the target out in a presentation at a meeting where a group of his top fundraisers and activists talked strategy as they seek to raise more than $750 million to benefit the Democratic incumbent’s bid for a second term in the White House.

Obama’s campaign, together with the DNC, raised about $86 million in the second quarter and is expected to garner more money over the whole campaign than Republicans.

But his third quarter fundraising was curtailed by the protracted congressional debt talks this summer, which led him to cancel fundraisers around the country. The quarter is from July to September.

The fundraising race for 2012 has moved to a new level since Texas Governor Rick Perry jumped into the Republican race last month and began holding events with potential big donors, putting added pressure on Republican rival Mitt Romney.

Romney led the Republican field by raising $18 million in the second quarter, several times more than his rivals at the time, but Perry is expected to be a significant rival in the money race.

Reporting by Eric Johnson and Kim Dixon; editing by Mohammad Zargham

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