(Reuters) - President Barack Obama is building a formidable war chest as he gears up for an expected tough re-election fight in the face of a sluggish economy and stubbornly high unemployment rate.
Obama’s fundraising has dwarfed that of his Republican rivals in the money race thus far. In the second quarter alone, he raised a total of $86 million with help from the Democratic National Committee.
Here is a summary of Obama’s fundraising thus far:
* Obama’s campaign raised $47 million, and he brought in $39 million through the DNC in the second quarter of 2011.
It is much easier to raise funds through the DNC because the law lets individuals give nearly $31,000 to national parties per year, but a total of only $5,000 for the primary and general elections to candidates.
* Republican front-runner Mitt Romney raised $18 million in the second quarter. The Republican National Committee, which won’t back a candidate until the primary is settled, raised about $37 million.
* Obama raised money from big donors and small. More than half came from contributions under $200, according to the Campaign Finance Institute.
* He also did well among big spenders. Donors from the financial industry - most notably Wall Street -- are giving to Obama at higher rates than they did in the 2008 election cycle, according to the Center for Responsive Politics.
* One third of the funds raised from Obama’s big money backers came from executives and others with ties to the financial world, compared with about 20 percent during the 2008 race.
* As of August 9, he had held 31 fund-raisers .
Reporting by Kim Dixon, editing by Vicki Allen