Thursday, November 27, 2008

Big money donors fueled Obama campaign

Guess the donations weren't the spontaneous outbursts of an outraged small-donor peasantry after all.

It turns out that Barack Obama's donors may not have been quite as different as we had thought. Throughout the election season, this organization and others have been reporting that Obama received about half of his discrete contributions in amounts of $200 or less. The Campaign Finance Institute (CFI) noted in past releases that donations are not the same as donors, since many people give more than once. After a more thorough analysis of data from the Federal Election Commission (FEC), it has become clear that repeaters and large donors were even more important for Obama than we or other analysts had fully appreciated.

"The myth is that money from small donors dominated Barack Obama's finances," said CFI's executive director Michael J. Malbin. "The reality of Obama's fundraising was impressive, but the reality does not match the myth."