Posted by: endithinks | August 16, 2008

On Campaign Finances and the Obama “Advantage”

In July the Obama for America campaign raised 51 million dollars while John McCain raised 27 million.  The experts and pundits keep totting that Obama is out raising his rival by two to one and come the fall will have so much money to invalidate McCain’s poor showing in finances.  What the experts don’t often mention is that McCain may be publicly financed, but his campaign can also use any amount of finances that is raised by the GOP.

In case you didn’t know the maximum amount a person can contribute to any political candidate is 2600 dollars.  The fact that most people don’t know is that you can also contribute up to 9000 to a political party.  So what that means is that McCain with the public financing is also going to use the amounts of monies that the GOP raises.

The GOP knows that this fall they are going to lose more Senate seats as the approval rating of Congress continues to drop.  (Don’t get me started on my anger over the ineffectiveness of the Congress including the Democrats).  Therefore, the GOP is going to put their eggs in McCain’s basket.  They will focus on getting the Executive office.  That means that McCain is not going to have a financial gap.  He may even if the patterns of giving continue may have more access to more funding than the experts estimate.

So what does this mean for the Democratic party?  It means that they need to continue raising money for Barack Obama when heading against a well financed McCain.  Of course we all know that the amount of money does not have as much of effect on the outcomes of a political campaign as shown here (basically this article talks about how throwing money at a political situation does not have as much of a return on investment as one would expect), but it is a nice rallying point to be able to shout that you “Gots mo money” than the other guy.

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