Greener Than We Thought

Barack Obama had a better June than anyone first thought.

AP/abcnews.com

This morning his campaign sent out this email:

I have some big news we want to share with you.

In the month of June, supporters like you helped raise $52 million. And together with the DNC, we now have nearly $72 million in the bank. That's a very strong financial position to be in.

But we remain at a massive disadvantage to our opponents.

As I mentioned in my video message earlier in the week, the McCain Campaign and the Republican National Committee finished June with nearly $100 million in the bank.

We can't stop now. It's going to take everything we've got to defeat John McCain and his allies in November.

The email goes on to ask for more money.  It's "signed" by Obama campaign manager David Plouffe.

$52 million is significantly more than the "over $30 million" the campaign estimated publicaly a few days ago.

And it's 2 1/2 times the amount John McCain raised in what was a good month for his campaign.

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There's other financial news too.  It seems five former presidential candidates, and one current one, are eligible to receive federal matching funds for their primary efforts.  According to the FEC on Wednesday:

six Presidential candidates are eligible to receive a total of $7,441,898.38 in federal matching funds for their 2008 primary campaigns.  This brings the total matching fund certifications in the 2008 campaign thus far to $26,729,403.03.  The Commission has also determined that the independent campaign of Ralph Nader is eligible to receive matching funds.

Candidates who participated in the program in 2004 received a total of $28.4 million in matching funds.  During the 2000 campaign the total was $62.3 million and in 1996 primary campaigns received a total of $58.5 million in matching funds.

So who are they?  Here's the list and what they get:

Candidate	Certified July 15
Joseph R. Biden (D)	$1,135,035.94
Christopher J. Dodd (D)	$514,173.62
John Edwards (D)	$4,057,452.60
Duncan Hunter (R)	$353,527.32
Dennis Kucinich (D)	$970,521.05
Ralph Nader (I)	$411,187.85
Total	$7,441,898.38

So how does it work?  Again, according to the FEC:

To become eligible for matching funds, candidates must raise a threshold amount of $100,000 by collecting $5,000 in 20 different states in amounts no greater than $250 from any individual. Other requirements to be declared eligible include agreeing to an overall spending limit of approximately $50 million, abiding by spending limits in each state, using public funds only for legitimate campaign-related expenses, keeping financial records and permitting an extensive campaign audit.

The federal government matches up to $250 of an individual's total contributions to an eligible candidate.  Following the primary season, candidates may be entitled to receive additional matching funds to assist in winding down their campaigns or to retire debts. The maximum amount a candidate can receive in 2008 is $21,025,000.

The money comes from the $3 option on your tax return.  I wasn't aware anyone actually donated that extra money.  Guess I was wrong!

Thanks for reading. TA

Comments

[Ben Keeler]

I'm not too concerned about the $. McCain will have what he needs. It is then his job to get out a message that people will respond to.

[Gwen S.]

Think of all the humanitarian aid that money could buy and the American families it could help.

[Seth Albright]

I was drawn to one sentence in the email from Obama's campaign: "It's going to take everything we've got to defeat John McCain and his allies in November." Okay, which allies are they referring to? His former fellow POWs? Those currently serving in the military? Independents for McCain? All those PUMA members who will vote for McCain if Hillary isn't at the top of the ticket in November?