Obama 2012 campaign far exceeds fundraising goal

Reuters News
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Posted: Jul 13, 2011 9:23 AM
Obama 2012 campaign far exceeds fundraising goal

WASHINGTON (Reuters) - The campaign to re-elect President Barack Obama said on Wednesday it raised $86 million from April to June, exceeding its $60 million target for the quarter and eclipsing Republican White House contenders.

Obama's 2012 campaign said it received funds from more than 552,000 people, representing "more grassroots support at this point in the process than any campaign in political history."

In keeping with Obama's 2008 winning strategy of tapping small donations, 98 percent of donations in the second quarter were $250 or less, with an average donation of around $69, campaign manager Jim Messina said in a video to supporters.

The figures confirm that the president, a Democrat who raised a record $745 million in cash during 2008, has started the 2012 race as the cash leader despite criticism from some Democrats that he has tilted to the right in debt talks and worries about the U.S. economy.

Republican front-runner Mitt Romney raised $18.25 million from April to June, and most other Republican hopefuls for the White House raised between $4 million and $4.5 million in the quarter. The fast-rising candidate Michele Bachmann is due to announce her fundraising total for the period this week.

Of the total raised for Obama in the second quarter, more than $47 million went to the "Obama for America" fund and more than $38 million went to the Democratic National Committee.

(Reporting by Laura MacInnis and Kim Dixon; Editing by Vicki Allen)