The Washington Post notes President Obama trails Republican front-runner Mitt Romney "in finding donors willing to give $2,000 or more -- a surprising development for a sitting president, and one that could signal more worrisome financial problems heading into the general election. At this point in the last election cycle, Obama had received such large donations from more than 23,000 supporters, nearly double the 11,000 who have given him that much this time. President George W. Bush had more than four times the number of big donations at this point in his reelection."
"Republicans and Democrats alike thought that Obama would have a big financial advantage over Republicans this fall given his record-breaking 2008 fundraising and his status as the sitting president. But the trend of slackening big-donor support is the latest in a series of indications that the 2012 money battle is going to be much tighter than once imagined."
It's not just the big-money donors. The same problems extend to the rabble.
Last July, President Obama's campaign announced that it had raised an average of $29 million in each of the previous three months for itself and the Democratic National Committee (DNC). I was only mildly impressed. After all, that was well below the $50 million a month needed to reach the campaign's goal of a $1 billion war chest for the 2012 race... Seven months later, I'm even less impressed. Through January, the president has raised an average of $24 million a month for his campaign and the DNC...
...many of Mr. Obama's 2008 donors are reluctant to give again. The Obama campaign itself reported that fewer than 7% of 2008 donors renewed their support in the first quarter of his re-election campaign. That's about one-quarter to one-third of a typical renewal rate: In the first quarter of the Bush re-election campaign, for example, about 20% of the donors renewed their support.
There are other troubling signs. Team Obama's email appeals don't ask for $10, $15, $25 or $50 donations as they did in 2008, but generally for $3. Nor are the appeals mostly about issues; many are lotteries. Give three bucks and your name will be put in a drawing for a private dinner with the president and first lady... it suggests the campaign has found that only a low price point with a big benefit can overcome donor resistance...
...This perhaps explains why the White House told congressional Democrats last week not to expect a single dime for their campaign efforts from the Democratic National Committee this year. All the DNC's funds will be needed for the president's re-election.
His campaign's financial situation also may explain why Mr. Obama has embraced Super PACs after decrying them as a "threat to democracy" in the midterm elections...
In related news, the number of Obama's 2008 donors who remain unaffected by the SCOAMF's disastrous policies continues to plummet.