President Obama is a big draw at fundraising events.
While the Republican National Committee works to get its head above water financially the Democratic National Committee is bringing in the big donor bucks. In April, the DNC raised $12.4 million, thanks in part to multiple fundraising events that featured President Obama. That’s more than double the $6.1 million that the RNC raised during the same period, The New York Times reports.
Former RNC chairman Michael Steele left the organization swimming in a sea of red ink. The RNC is reportedly close to $19 billion in debt and has only $5 million on hand. Republicans chose Reince Priebus to replace Steele in January because of Priebus' low-key personality and ability to restore GOP donors’ faith in the committee.
Obama raised almost $750 million during the 2008 campaign and pundits are predicting that this time around he could bring in close to $1 billion. That’s a lot of campaign dollars that he won’t even need, given that he won’t be competing in the primary. Democrats also have formed an Obama Victory Fund. The first $5,000 of a contribution made at a Victory Fund event goes to the president’s re-election campaign. The rest, capped at $30,800, goes to the DNC. The party’s April jackpot includes $7 million from the Victory Fund.
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