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President Obama Raises $29 Million For Campaign, Democratic Party

Source: The Huffington Post

WASHINGTON — President Barack Obama raised $29.1 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 and 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. Those so-called super PACs, financed with large donations from a small group of individuals, have been prominent in the Republican presidential primary and are also poised to spend millions in the general election contest.

To read this article in its entirety visit The Huffington Post.

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