With both candidates set, Romney and Obama now close in the money race

Posted by on May 21, 2012 at 9:07 am

Obama campaign officials naturally chose to distract attention from the drop and emphasize instead the large number of small donors he got, more than 430,000.

But the decline appeared to confirm rumors and anecdotal evidence that Obama’s large-sum donors were less enthusiastic this time around and holding back the checks or reducing their size. One California Democrat said bundlers, who simply stacked the free-flowing checks in 2008, were now having to convince many to give.

Although the recent Obama fundraiser at George Clooney’s Studio City home was hailed as a $15 million Hollywood success, less notice was taken that a significant chunk of that money came from the online lottery to enable two regular donor couples from the ordinary 99% to attend the $40,000 gathering.

Based on that success, Obama’s campaign is now touting another lottery to attend a celebrity fundraiser in the Manhattan home of Sarah Jessica Parker, the shoe-loving ‘Sex in the City’ slut.

Since launching his campaign about 13 months ago, Obama has held more fundraisers than most recent presidents combined, bringing in $233 million so far.

One ominous sign for Obama is his burn rate, the pace he’s spending his larger treasury. In April,  according to a new study in this morning’s Wall Street Journal, Obama spent 56% of the money he raised.

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