Bloomberg News

Obama Jumps Back Into Fundraising After Afghanistan Trip

May 02, 2012

President Barack Obama returned from Afghanistan today and left the White House a few hours later for another mission: raising campaign money.

Obama was scheduled to attend two $40,000-a-plate fundraisers at a Washington hotel to collect checks for his re- election effort, according to a campaign official. Twenty-five donors will be at each event, said the official, who spoke on condition of anonymity to discuss the closed fundraisers.

The money will go to Obama’s campaign, the Democratic National Committee and state Democratic Party organizations.

Obama began the month of April with a 10-to-1 campaign cash advantage over likely Republican nominee Mitt Romney. The president had $100 million in the bank at the end of March, while the former Massachusetts governor had $10 million in cash, according to disclosure forms filed with the Federal Election Commission.

Romney and Obama will forgo federal funding for the general election. That marks the first time since public financing was initiated after the Watergate scandal that both major party candidates will forfeit the $91.2 million that’s available, making them eligible to raise an unlimited amount from private donations. Those individual donations are still subject to limits.

To contact the reporter on this story: Hans Nichols in Washington at hnichols2@bloomberg.net

To contact the editor responsible for this story: Steven Komarow at skomarow1@bloomberg.net


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