Obama Campaign Pleads Poverty

The Obama campaign is pleading poverty. Really. In an email to prospective supporters, Jim Messina directs recipients to a donation website. The upper right side of the page shows an ad for Obama, while underneath the text reads: “We know that people who see this ad will be more likely to vote for President Obama.  What we don't know is how often we can afford to run ads like this.”

What?

Obama raised $45 million in February, and $29 million in January, which brought his total to $300 million. By March 1, Obama had $75 million on hand, as opposed to $11 million for Mitt Romney. And Obama reversed his earlier position on SuperPacs, enabling him to rake in even more

It’s no accident Obama has been sucking in the dough; he has held more fundraisers than any other first-term president in history.

Of course, Obama doesn’t give a damn about anyone but himself; senior campaign officials told Democratic Congressmen that they should not expect any money from Obama and the DNC this year.

In a time when millions of Americans are out of jobs, a campaign flush with cash and spending $25 million in nine battleground states should not be crying poor.


Comments

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The past several months have seen the price of gold slump even as the Fed and other central banks have accelerated their massive expansion of paper money. Gold is off about 20% so far this year with silver down almost 30%. The old adage--“don’t fight the Fed”--particularly comes to mind now because the US equity markets have been setting new highs during this same period. All of these gains are nominal, you understand, but for terrified American policy makers and investors, nominal is just fine.

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