Obama Raises $29M While GOP Hits Trail
NEW YORK (TheStreet) -- Barack Obama in January raised $29.1 million between his campaign and the Democratic Party as the Republicans continued to determine who should oppose the president.
Of the more than $29 million raised, 98% of the donations were of $250 or less, Obama's campaign said on his Twitter account.
While Obama fund-raised in San Francisco Thursday night -- part of a three-day West Coast push -- Republican presidential hopefuls crisscrossed Super Tuesday states to ramp up organization on the ground.
"It's just a regular campaign: We're building coalitions, getting out the vote, identifying our coalitions, getting out yard signs. We're actually going to have people knocking on doors -- you know, just a basic blocking and tackling campaign," a Santorum campaign source said.
Santorum significantly lags the president in funds as he had raised a mere $2.2 million through Dec. 31, but the GOP candidate's latest FEC report didn't include what he received after victories on Jan. 3 and Feb. 7.
Santorum's focus as the underdog has mostly been about snatching the nomination from Mitt Romney, who had raised $56.5 million through December. The former Massachusetts governor has found himself in an awkward two-front fight: He has hurled increased attacks at Obama as if the presumed nominee, yet he still has to parry Santorum's threat to nab multiple primaries through Super Tuesday.
Though the eventual GOP nominee may have to wait until late spring to raise general election funds, he won't be buried for the race.
Super PACs that support the Republican candidate are likely to infuse an unprecedented amount of cash into the presidential race. The Supreme Court's Citizens United v. Federal Election Commission decision set a precedent that could encourage staggering cash-flow into the presidential election. This prediction seemed more plausible when Obama's campaign pivoted from its long-standing opposition of special-interest spending and decided to support the super PAC Priorities USA.
Obama will continue his West Coast fundraising drive to further bolster his resources as Republicans continue to burn cash in a heated primary race -- Obama faced that same scenario in 2008 and still managed to raise the most money in presidential election history.
-- Written by Joe Deaux in New York.
>Contact by Email.