With more than a year to go before the 2008 elections, Democratic candidates have raised $100 million more in campaign contributions than Republicans, putting them on track to win the money race for the White House and Congress for the first time since the government began detailed accounting of campaign fund raising three decades ago.
Democrats have taken the lead by exploiting widespread disapproval of President Bush and the Iraq war to develop a more robust online network of new, small donors, as well as to gain traction with deep-pocketed business contributors.
If their fund-raising advantage continues — so far, Democrats have been pulling in about 58% of overall donations to federal-office seekers — they will have more resources for pricey advertising, organization building and voter outreach next November to buttress their edge in the polls. Moreover, Democrats’ focus on small donors leaves them room to raise more cash over the next year, since many contributors have yet to hit the legal limit of $2,300 per candidate per election, and could potentially keep giving.
That’s better than if that type of doough were flowing in the other direction, but just remember that when it comes time for next year’s version of the Swift Boat Scumbags, the Repulicans will have more than ample cash on hand.
I wonder if the Republican pundits are getting worried behind closed doors. I know it’s early, but practically every indication right now has the Democratic party making big gains in ‘08, including taking the White House. It must be hard for them to find good news to rally their base and I don’t think they’ll get much play from fear and hatred, at least not outside the 26%ers.
And some of us haven’t even started giving yet.
It is still mid-2007, after all.
It is really amazing the type of money raised and spent in marketing. The presidency is all about the best marketing. Perhaps this is why the best candidate may not be the one in the White House.
-EI
And with an incumbent VP not only not running, and the President with Nixon-like approval ratings, the fundraising machine isn’t what it used to be. Bush can’t go out and rally the faithful to give nor can he exhort people to “preserve the gains” either.
A nonRepublican presidential victory in 2008 will not come easy. Lots of good signs at this moment, but lots going against the notBad guys (e.g., moneybags, Tim Russert, WaPo ed page, and whatnot).
I have to give mad props to Howard Dean, Rahm Emmanuel, and Chuck Schumer, who have beaten their Rethug counterparts like red-headed stepchildren this Election cycle.
Who knows what will be in 2010, but for 2008 the GOP is beginning to realize the news is MUCH worse than it looks, and it looks pretty bad.
Most of the contributions from active military are going to Democrats.
Dugger? Farris? Can we get the Official Explanation ™ why the military hates America?
“but lots going against the notBad guys (e.g., moneybags, Tim Russert, WaPo ed page, and whatnot).”
This is important and can’t be said enough. The media is the biggest opponent for the Democrats this election cycle.
I’m still hearing crap about Hillary being unelectable due to her image problem. Yet she’s leading in every D vs. R poll I’ve seen in the past month.
Wellstone, FYI the head of the DCCC this cycle is not Rahm but Maryland’s own Rep. Chris Van Hollen
Thanks for the heads-up, Ollie.
Mad props to him, too. He’s gettin’ the job done.
Question: If you’re the GOP, what do you do to turn back this tide?
“Question: If you’re the GOP, what do you do to turn back this tide?”
Hopefully they’ll yell Iraq, 9/11, Gays and Abortion over and over and over again.
“Most of the contributions from active military are going to Democrats.”
I couldn’t find that statistic in the WSJ article. Did I skip over it? What is your source, RePack?
However, I did find this:
“Blackstone Group, Carlyle Group and other members of the Private Equity Council trade group gave 69% of their $3.4 million in campaign donations to Democrats last year, up from 51% of $2.7 million in 2000, data from the Center for Responsive Politics show. Separate data for large hedge funds show a similar pattern of giving.
Other sectors are following suit. The securities industry flipped its allegiance to Democrats in 2006, giving more to Democrats than Republicans for the first time in a decade, the Center for Responsive Politics said.”
Perhaps Wellstone or someone else could give us the “Official Explanation”TM of why the Democrats are kissing the rings of the filthy rich and the military-industrial complex.
Actually I think it’s more along the lines that the big money is on the Dems because they see a shift coming in the Democratic direction too.
Short answer to Mike: It’s GOOD for business to contribute to the Party in Power!
I am all for the innovative plans laid out by James Carville in his book to reform the entire election/contribution/campaign process.
Until then, the GOP has enjoyed the vast bulk of support from business for the last generation, and has repaid business back handsomely.
Nominal tax rates for corporations have plunged, gross and net profit margins and earnings are in the stratosphere, productivity and ROI are a capitalist’s dream.
I think they’re stealing the US taxpayer blind. I would like to see tax policy shift more towards Americans, and away from taxpayer subsidies, allowances, credits, and loopholes squandered on “American” corporations that are really globals, not Americans.
These Corps know they are in for some adjustments. I would like to see Dem Congresses and Administrations begin to make Corps pay as much in taxes as rich Americans.
It is this fear that is making Wall Street open their checkbooks for Dems, and I hope Dems take their money and do the right thing ANYWAY..