In yesterday’s post, I wondered aloud if Hurricane Sandy might impact the election in eleven days. Well, it already has.
A fundraiser for President Barack Obama was reluctantly cancelled Thursday night after the winds from Hurricane Sandy blew up a transformer and knocked out power to the event’s Wynwood venue.
The Young and Powerful for Obama had hoped to fill Cafeina Wynwood with song and drink and raise a few dollars along the way when it went dark just after 6 p.m.
Those already in attendance were told by security to drink up and leave because it was too dangerous.
I honestly doubt this will have that much affect on the big picture. The Obama Camp will hardly notice any shortfall of revenue from this little event. It probably wouldn’t amount to much more than a rounding error. Still, every little bit helps.
The debate season was very good to Mitt. ABC reports that his campaign raised nearly $112 Million the first half of October.
CINCINNATI — Mitt Romney has raised $111.8 million in the first half of October, a campaign aide said today.
“BOOM: In first half of October alone, @mittromney effort raised $111.8 million,” spokeswoman Andrea Saul wrote in a tweet.
In an e-mail to donors, Romney’s National Finance Chair Spencer Zwick wrote, “We are proud to announce that the Romney Victory Effort raised $111 million from Oct. 1-17.”
“We are a successful finance team because of you, the members of the National Finance Committee,” Zwick wrote. “In these final days of the campaign, we know that you brought us to this point and that your support will carry us through to victory on November 6th.” The impressive fundraising numbers come during the time period of three of the four debates.
Romney participated in presidential debates on October 3 and October 16, and his runningmate Paul Ryan faced off in the veep debate on October 11.
Saul announced following the first debate that the campaign had raised more than $12 million over 48 hours.
With that kind of cash, Romney will be able to finish strong in not only Ohio, but should be able to do some last minute campaigning in Pennsylvania, Wisconsin and other more risky states.
That kind of money goes a long way toward the GOTV efforts, as well.
The official Federal Election Committee reports for September are out, and Debbie Wasserman Schultz’s DNC is a complete wreck. The Democrats ended September with cash on hand of $4.6 million, compared to the Republican National Committee’s $82.6 million.
That’s nearly an 18-to-1 cash advantage for Republicans.
Worse still for the DNC, they had to take out loans to pay the bills so that they owed $20.5 million at the end of September, meaning that that (subtracting cash on hand from total debt) they were $15.9 million in the red — essentially bankrupt. Wasserman-Schultz’s committee only raised $3.7 million in September; at that pace, it would take them more than four months to clear their debt, even if they didn’t spend another dime in the meantime.
Couple that with the news that Obama had to take out a $15 Million loan for Bank of America, and you get a picture of a Democratic campaign that is in serious financial trouble.
Obama For America took out a $15 million loan from Bank of America last month, according to the campaign’s October monthly FEC report. The loan was incurred on September 4 and is due November 14, eight days after the election. OFA received an interest rate of 2.5% plus the current Libor rate.
With the Obama Campaign’s reputation for being a deadbeat, why would any sane lender loan them that kind of cash?
Political junkies know by now that when the fundraising numbers for each campaign are released every month, things are more complicated than they might seem. The numbers each campaign releases are usually the combined totals of three different entities: the campaign, the party, and the joint “victory fund” between the two. Between those three organizations, for instance, Romney and the RNC raised $171 million in September and began October with an eye-popping $191 million cash on hand.
Obama and the DNC announced earlier in October that their three groups had raised a total of $181 million in September — but have actively refused to tell anyone how much cash they had left for the final month of the campaign.
Well, the filings that will reveal all are due to the FEC no later than tomorrow… and two of the three pieces of the Democratic puzzle have filed their reports today. First, the joint Victory Fund reported raising $82.3 million and ending September with just $45 million on hand.
Then, the DNC reported ending September with only $4.6 million cash on hand — and carrying $20.4 million in debt. (For comparison sake, the RNC ended September with $86 million cash on hand.)
Adding those two pieces together, we get $49.6 million cash on hand… and $20.4 million in debt.
Obama’s campaign better have a ridiculous amount of cash on hand if he hopes to compete with Romney in these final weeks. Either way, their total is not going to come anywhere close to the Romney/RNC total of $191 million. We will know for sure tomorrow…
The Romney campaign released their fundraising numbers today, the same day as the second presidential debate this evening — and the numbers were rather impressive: $171 million raised in September, and $191 million cash on hand at the end of the month.
Remember, Obama’s campaign was trumpeting their total raised, which was $181 million. Romney didn’t beat him, but came awfully close — and a lot closer than most pundits expected, given how poorly of a month September was for Romney.
The huge deal with these numbers, however, is the cash on hand total. $191 million in the bank is an eye-popping, massive pile of coin to be sitting on for the final 38 days of a campaign. And Romney is using it to his benefit: last week was the first week of the entire campaign Romney outspent Obama in television advertising. By the looks of the bank account, that is a trend which will continue through election day.
In other words, Romney kept his powder dry, held his fire, until the opportune moment.
Meanwhile, over in Obamaland, the campaign is refusing to release their cash on hand total. That refusal makes one wonder… did Obama spend all of his vaunted $181 million he raised in September, only to see his lead squandered and erased in early October? Until we learn otherwise, it certainly would seem like it. At the very least, we know Obama’s cash on hand is not close to Romney’s. Otherwise, Team Obama would release the number to try and blunt Romney’s momentum.
The other big thing to take away from these numbers is that according to Andrea Saul, Romney’s campaign is raising money even faster so far in October than they did in September. This is pretty astounding, given the historical trend that October is the worst fundraising month for candidates (because they’re busy actually campaigning rather than fundraising) — but it makes a lot of sense given how energized Republicans have become after Romney’s first debate performance.
So Romney will likely have close to $300 million to spend in the month of October to close out this deal. The charts for fundraising and cash on hand are below:
UPDATE: Remember, these totals are actually from three different fundraising organizations on each side: the candidate, the party, and the joint victory fund between the two. So Romney’s numbers, for instance, include the Romney campaign, the RNC, and Romney Victory, Inc.
I received the following email over the weekend:
Barack Obama’s economic policies have hurt the country and pushed us backward. But he hasn’t acted alone — he’s had plenty of help from his liberal allies.
To clean up the mess that the President, Nancy Pelosi, and Harry Reid have made, we need to control the House of Representatives. The House is where Paul Ryan comes from, and it’s where Republicans will start putting the economy back on track.
But before we can undo the damage, we will need your help to win in November. Please donate $10 or more right now.
Remember: If Democrats control Congress, we won’t be able to cut spending, the EPA will continue to run wild, and the backroom Solyndra deals that Democrats love will continue.
We need to win a majority in both houses of Congress. And we need you to stand with us: Please give $10 or more today.
Michelle Obama is sending out the following fundraising email:
I know your life is full — with work, or school, or family — and yet you still find the time to help out when you can.
You may have a tight budget, but you give what you can afford.
A woman recently told the campaign her family skipped a pizza dinner at their favorite place so that they could make a difference in this election.
That is the commitment that drives this campaign.
If you can support Barack with a donation today, please know it makes a huge difference. If we win, it will be because of what you did at moments like this….
P.S. — It meant a lot to me to speak with you and everyone else last night. Thank you for everything you do.
So not only did they famously invite us to send all of our birthday and wedding gift money to Obama, now Michelle Obama herself is hinting that it would be a wonderful thing if you gave up your family’s pizza night and send the cash to her husband’s campaign.
Really, you cannot make this stuff up. Nobody would believe you if you did.
Still, this is the same group that gave us ‘Julia’ and the ‘Obama Gift Registry’. We shouldn’t put anything past them.
I am going to be charitable and assume that some anonymous staffer wrote this email and signed it for Michelle without her ever seeing it. The First Lady has never struck me as being that foolish.
Have you noticed that you see far fewer articles extolling the genius of the Obama Campaign team these days? They used to be fairly common, but they seem to have disappeared as of late. I wonder why.
Unlike President Barack Obama, who’s drawn complaints for being stingy with his campaign cash, Mitt Romney is spreading the wealth among his GOP congressional allies.
Romney’s biggest grossing committee last month steered at least $3 million to boost GOP congressional candidates who will share the ballot with him, according to finance reports filed last week.
Romney Victory, a joint fundraising committee set up by Romney’s campaign and the Republican National Committee, on the last day of July transferred $1.5 million each to the National Republican Congressional Committee and the National Republican Senatorial Committee.
Obama’s campaign had transferred money to the Democratic committees in 2008 and 2010, but has yet to do so this year, despite pleas from top Democrats, including Senate Majority Leader Reid and Sens. Dick Durbin (D-Ill.) and Chuck Schumer (D-N.Y.). They and other lawmakers have implored Obama’s campaign both to transfer at least $10 million to the Party’s congressional campaign arms and also not to max out wealthy donors.
The reluctance of Obama to heed such requests – and Romney’s willingness to make such transfers – is another in a series of troubling signs on the money front for Democrats. They have struggled to rally their big donors to write big checks to the types of unlimited-money outside groups airing millions in ads boosting Romney and congressional Republicans.
Earlier this year, Romney Victory transferred $53 million to the RNC, $16 million to Romney’s campaign committee and $20,000 each to the state Republican parties in Idaho, Massachusetts, Oklahoma and Vermont – not exactly top battlegrounds.
It also speaks to the confidence level in each of the campaigns.
Mitt Romney’s fundraising haul includes areas normally associated with the Liberal Democrats. CBSNews reports:
WASHINGTON — Republican presidential candidate Mitt Romney, who is out-fundraising President Barack Obama by impressive margins, is attracting thousands of donors this summer from traditionally Democratic areas of the United States, collecting millions of dollars in even progressive communities from New York to Los Angeles, according to an analysis by The Associated Press of new campaign data.
Donors from tony neighborhoods of Manhattan to even the famously liberal Castro neighborhood in San Francisco helped Romney and the GOP outraise Obama by more than $25 million in July, beating him and the Democratic Party in contributions for a third consecutive month, the AP analysis showed.
In Denver, the home of the 2008 Democratic National Convention, Romney supporters this summer contributed more than $400,000 — enough to pay rent, utilities and staff for a campaign field office. And in Philadelphia, where Obama handily beat Sen. John McCain four years ago, Romney took in more than $250,000 since early June.
The convention is almost here, and with it comes the end of the stricture against using general election funds. All that cash instantly becomes available to spend on the election.
We’ve heard this story before, haven’t we?
WESTPORT, Conn. (CBS Connecticut/AP) — Westport’s first selectman says the town has been informed it will not be reimbursed thousands of dollars for President Barack Obama’s visit for a fundraiser earlier this month.
First Selectman Gordon Joseloff says the Democratic National Committee notified the town it will not pay police and fire overtime costs totaling $14,812.
These stories just keep coming. This classic song from the 60’s comes to mind:
The beat goes on, the beat goes on
Drums keep pounding a rhythm to the brain
La de da de de, la de da de da