Obama’s “Cash Crunch”

11:36 am EST July 21st, 2008 | News | 4 Comments

In one day, Sen. Obama raised more than John McCain did for the entire month of June.

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4 Responses to “Obama’s “Cash Crunch””

  1. evie says:
    July 21, 2008 at 11:43 am

    The more I see this reported, the less I believe it. I wonder if it’s possible that the processed a number of donations on the last day of the month, and it just looked on the reporting that they all came in on the same day.

  2. Kevin says:
    July 21, 2008 at 12:49 pm

    I’m having a hard time believing this one myself… though I can’t imagine why the campaign would want people to think fundraising was failing, only to pull a “gotcha” at the end.

    I’m thinking it’s got to be a reporting/recording error generated flub

  3. Duros62 says:
    July 21, 2008 at 4:21 pm

    I’m proud to be one of those June 30 donors.

  4. Warren Terra says:
    July 22, 2008 at 5:01 pm

    Without looking into this instance, from similar events in previous months I can repeat what I was told, which at least seems plausible: small donations, those under the $200 individual-donation detailed reporting requirement, are often aggregated and reported as one huge donation within the reporting period. There’s no hanky-panky here, it just makes the reporting bookkeeping easier. And because it means only doing this once, the day chosen is usually the last of the reporting period, i.e. the last of the month.

    So Obama’s $25 million day means not that the 30th was special but that he’s still getting half his cash in small donations, even though he’s started doing a few big-dollar events and Clinton turned over her bundlers.

    And McCain’s lack of a similarly huge day means either that he’s not following similar practice (which would be odd, because it’s efficient and it’s at least what both Obama and Clinton did) or that McCain is getting most or all of his cash in large chunks that require immediate and detailed reporting.