Following months of raising fewer funds than his Republican challenger, President Barack Obama’s campaign and the Democratic Party has reached new heights in fundraising. Reports earlier said enthusiasm was dipping from donors but in August, the Democratic Fundraising machine took in $84.7 million. The amount was a record for August and the campaign for the President continues to roll towards matching the $750 million raised during the 2008 election or even exceeding it.
During August, Mitt Romney the Republican presidential candidate took second place with $66 million. That tied the previous record high for fundraising in August that was set in 2008 by Obama.
The campaign for Romney continued with its small base of donors taking in 58% or $38 million of its donations from donations of $2,500 or more. The campaign for President Obama took in its money from over 1.17 million donors during August, with nearly $38 million or 40% of the total coming from donations of $200 or less.
Romney should have been able to expand upon his donor base in August, especially the donors who give small dollar donations. The Republican National Convention and the announcement of his running mate were just two events that should have excited the Republican faithful into opening up their wallets and spreading around their wealth. While big donations are abundant for the Republican Party, small ones are not. Only $9.46 million was raised by the campaign through small donations, which was less than in July.
The Republicans should not worry too much however, the Republican National Committee has over $76 million in its account after pulling in $35 million during August.