Money Talks

According to the Washington Times, the Obama re-election campaign has raised substantially less than George W. Bush had raised at this point in the campaign eight years ago. The numbers are $157 million raised by Bush and $119 million raised by Obama. Since we have all heard how Team Obama was going to raise $1 billion for the re-election effort, the question has to be asked: How can this be? What explains Obama's paltry fundraising results.

First, you can be sure that the Obama results do not come from a lack of effort. In the last year, Obama has held more than twice the number of fund raisers that Bush held in the comparable period. Also, the rest of the effort is in full swing. I have gone to the Obama web site to look at it and, even though I gave no information when I got there, I have been receiving a stream of fund raising emails ever since. My wife, who is a strong Democrat, has been getting about three to four fund raising appeals in the mail each week from the Obama team. They are trying extremely hard to raise the cash.

Second, there are some big fund raising constituencies that have soured on Obama. One would be the Wall Street crowd. In 2008, Wall Streeters provided more cash to Obama than any other group. In return, Obama has villified them and attacked them, even as he has helped most of them by protecting the big banks with Dodd Frank. Obama, however, has also kept the economy from growing as fast as it should be with his isguided policies, and the folks on Wall Street understand that. A second group that seems to be leaving the Obama fund raising effort is Jewish voters and other friends of Israel. Despite Obama's protestation that he "has Israel's back", these voters have seen Obama take action after action that imperils the security of Israel. Words are not enough for these folks, particularly since they know that after the next election, a second-term version of Obama would not be hindered by having to face the electorate again. Another group that has left the Obama camp is the energy industry. figures show that contributions from folks with ties to the energy industry (non-green) have fallen substantially since 2008. The reality of Obama has been nothing like the promise of Obama. Even Hollywood has reduced its support. Many of the far lefties out there have been disappointed that Obama has not been radical enough.

Third, the number of small contributions has been way down from 2008. Part of that is the poor economy. Part of that is Obama's job performance, or should I say lack of performance. Things have gotten so tight in this area that Obama is now raffling off dinner at the White House for a $3 contribution. He is, in effect, selling lottery tickets without the half billion dollar prize that Mega Millions has this week. The broad base of Obama support is not so broad based anymore.

All of this bodes ill for Obama in the fall. Money is not the same as votes, but it sure is a good indicator of enthusiasm. We have heard for months in the media how Republicans do not really like Romney. He seems to have no trouble raising big money. Who knows? Maybe the main stream media will actually start reporting on how Democrats do not really like Obama. Or, they can just let the money talk.