June 27 (Bloomberg) -- President Barack Obama’s re-election campaign is asking wealthy supporters to commit to making the maximum contributions allowed under the law to the president’s effort and to the Democratic National Committee.
Donors who pledge $75,800 to the Obama Victory Fund will be named “Presidential Partners” and will be invited to quarterly campaign briefings that are sometimes attended by the president, said a Democratic official who wasn’t authorized to comment publicly and spoke on condition of anonymity.
The program secures two years’ worth of a supporter’s allowable donations. Presidential Partners contribute $5,000 to the Obama campaign, $61,600 to the Democratic committee and an additional $9,200 to a committee that the campaign and the national committee use in statewide races.
The big-money fundraising program is the latest weapon in a campaign-financing arms race. It was reported by the Los Angeles Times. The 2012 election may dwarf previous races with the campaigns, party committees and independent political groups projected to raise and spend a combined $2 billion before Election Day.
“There’s not too much money in politics,” said Mike Duncan, former chairman of the Republican National Committee and current chairman of the independent fundraising group American Crossroads, which backs Republican candidates.
“It’s a matter of perspective,” he said. “There’s more money spent each year on Halloween candy and costumes.”
Obama’s campaign is continuing to reach out to small donors on the Internet. A June 21 e-mail appeal from Vice President Joe Biden urged voters to donate $5 or more and get a chance to have dinner with the president.
The president’s re-election campaign has received 300,000 contributions via the Internet, compared with 180,000 at this juncture in 2007, said spokesman Ben LaBolt. The campaign has set a goal of 450,000 donors by June 30, he said.
--Editors: Mark Silva, Bob Drummond
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