This week President Obama will hold six fundraisers in three states during a three-day visit to the Western United States. According to Democratic officials, his campaign hopes to raise more than $4 million. A busy fundraising schedule this week brings the total number of fundraisers on the president's schedule this month to 12. That mirrors the number of fundraisers he attended in September, the last month of the Federal Election Commission's 3rd fundraising quarter. In August, the president held only 7 fundraisers, and in July he held no fundraisers due to tense negotiations over a compromise to raise the federal debt ceiling.
On top of the president's efforts, First Lady Michelle Obama has hosted at least four fundraisers this month, and she hosted three fundraisers in the last week of September to bring in some last-minute cash before the close of the quarter. Vice President Joe Biden has been less active on the fundraising trail this month with only one fundraiser on his public schedule in October, but during September the vice president attended eight events raising money for the Democratic National Committee.
Almost none of the fundraising events attended by residents or employees of the White House collect money directly for President Obama's 2012 reelection fund. Due to campaign fundraising limits, the president, vice president and first lady raise almost all of their money for a joint account of the Democratic National Committee and Obama for American – Obama's reelection campaign – called the Obama Victory Fund. Generally, the campaign gets the first $5,000 of an individual's contribution. By law, an individual donor is allowed to contribute $2,500 per candidate or candidate committee per election. So $5,000 would constitute a maximum donation of $2,500 for both the primary and the general elections. The maximum amount any individual can donate to a national party committee is $30,800 per calendar year, so the remaining portion of any donation up to that maximum amount goes to the DNC.
In the most recent FEC fundraising quarter, the joint Obama Victory Fund raised more than $70 million, and OFA received nearly two thirds of that, taking in $42.8 million.
Yeah, yeah, go ahead and give Obama lots of money. Fools are born, every day.
Better than giving money to a Sarah Palin, Herman Cain or Newt. All there are doing is selling books!!
Instead of fundraising, obama should be working to turn the economy around. It is obscene to be asking upwards of $35K to have dinner and a picture of him, when a lot of Americans can hardly put food on the table. All that man knows how to do is campaign, play golf, and take vacations.