Phil Matier: Cashing In On the Campaign Trail
SAN FRANCISCO (KCBS) – Cash is king in the campaign to be president, and the latest figures show one candidate outpacing the other by nearly $20 million.
President Obama took in an estimated $84 million in donations for reelection in August 2011, according to figures just released. Republican challenger and former Massachusetts Gov. Mitt Romney had a fundraising haul estimated at $66 million during the same time period.
And, there were no signs that the pace of fundraising was slowing. Quite the contrary, with the race considered a close one, both sides were expected to appeal to supporters for more money in the last weeks on the campaign trail.
A word of caution, however, from the pundits: the fundraising numbers being floated weren’t necessarily the true numbers because of what’s described as a “huge” amount of money in independent expenditure committees that do not have to report anything – who gives it, how much – to elections officials.
Obama is said to be at a tremendous disadvantage when independent expenditure committees are considered in fundraising totals.
KCBS, CBS 5 and Chronicle Insider Phil Matier:
Romney was expected at a private fundraising event in Hillsborough Friday. Tickets were said to cost between $1,000 and $50,000 per person.
Obama’s campaign announced plans to fundraise San Francisco on Oct. 8.
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