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Obama raises $29 million for campaign, Dem Party

Obama raises $29 million for campaign, Dem Party

February 17th, 2012 by JIM KUHNHENN, Associated Press in News

WASHINGTON (AP) - President Barack Obama raised more than $29 million for his campaign and for the Democratic Party in January, a strong fundraising month that put him ahead of the pace he set in the last quarter of 2011.

In a Twitter message Friday morning, the Obama campaign announced the president raised the money for his re-election effort, for the Democratic National Committee and related committees. The campaign raises money directly from donors or through a Victory Fund that splits proceeds with party efforts devoted to Obama's re-election.

The month's haul raises Obama's total combined fundraising for this election cycle to about $250 million. In the last three months of 2011, he averaged about $23 million a month.

That fundraising concluded before the campaign's announcement this month that, in a reversal, Obama would embrace the big big-money fundraising groups he once criticized and let them help in his re-election.

The campaign did not immediately provide a breakdown of the fundraising but said 98 percent of the January donations were $250 or less.

Presidential candidates must submit January fundraising reports to the Federal Election Commission on Friday. The Obama campaign's full report is expected later in the day.

The January numbers were being reported as Obama concluded a three-day swing of California and Washington that included eight fundraisers, most of them high-dollar events. All told, the president was expected to raise more than $8 million during the trip.