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Obama and Democrats raise $70 million in quarter

By Reuters
Thursday, October 13, 2011 7:20 EDT
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WASHINGTON (Reuters) – President Barack Obama and the Democratic National Committee raised more than $70 million from July to September for his re-election bid, the campaign said on Thursday, topping a $55 million target.

The report shows that Obama’s money train did not stall amid protracted summer debt talks and complaints from his base that he lacks the fervor to push a Democratic agenda.

Obama raised a record $745 million in cash during 2008, and his advisers want to raise even more for 2012.

In the second quarter, the campaign raised $86 million, besting the record set by former President George W. Bush. The campaign had said it would raise $60 million in that period.

The campaign said that 606,027 people donated during the third quarter.

Republicans are behind in fundraising.

Texas Governor Rick Perry, once a front-runner whose support has been falling in the polls, raised $17 million in the third quarter, giving him fuel to keep the campaign going despite concerns over recent stumbles in debates.

Former Massachusetts governor Mitt Romney has not released third-quarter figures yet, but he raised more than $18 million in the second quarter.

The Republican National Committee has been raising record amounts for a non-election year, hauling in about $60 million so far this year.

(Reporting by Kim Dixon and Patricia Zengerle; Editing by Eric Walsh and Vicki Allen)

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