And I thought Howard Dean had a good Q4 in 2003.
John Kerry’s campaign stunned the political world today by announcing that it has raised a jaw-dropping $50 million in the first three months of 2004. More than half — $26.7 million — was raised online.
This is extraordinary. It’s a testament to new-found party unity, the strength of Kerry’s campaign, and a recognition that we won’t beat Bush unless we’re willing to put our money where our mouth is.
Not only is the $50 million a remarkable feat, it also broke all the Dem records. The previous single-quarter record was set by Dean in 2003, when he raised $16 million in the final three months of the year. Obviously, anytime a candidate triples the old record, it’s remarkable.
In fact, it was a great month — fundraising wise — for Dems all-around.
It appears Kerry is not draining money from fellow Democrats, as some party officials feared: The Democratic National Committee broke its previous record by raising $27 million, while the House and Senate campaign committees, which both topped $11 million, also set all-time highs last quarter.
Unfortunately, every silver lining has a cloud. Bush’s fundraising proficiency, as expected, has continued unabated.
We don’t yet know exactly how much BC04 took in Q1, but he raised $50 million in Q3 last year and the campaign said the campaign has topped that total. This isn’t surprising. Of course, Bush is raising more, but he’s also spending more just to keep up with Kerry in the polls. It’s indicative of a beneficial dynamic: the public has soured on Bush’s presidency so his campaign has to spend wildly just stay competitive. Kerry, on the other hand, is spending far less but is nevertheless leading in the two most recent national polls.
Moreover, Kerry’s success so far points to an encouraging future.
[T]he unexpected fundraising surge shows Democrats are far more competitive financially against Bush and suggests the pool of Democratic money runs much deeper than officials from both parties originally projected, GOP and Democratic strategists say. The Kerry campaign initially projected it would raise $80 million this year, then Kerry fundraisers said in interviews last month it could top $100 million in 2004 alone.
“You can easily see a scenario where he hits $120 million, particularly given the fact the race is so close and will continue to be close,” said Anita Dunn, a Democratic strategist.
[…]
Although Republicans and Democrats alike predicted a few months ago that Bush would spend the Democratic nominee into the ground, it now appears that Kerry, with the help of outside liberal groups funded with soft money, will have resources to keep pace with Bush and his allies, strategists from both parties say.
Perhaps most importantly, I’m particularly encouraged by Kerry’s success so early in the process. Usually the campaign season doesn’t begin in earnest in February, as it did this year. I expected Dems (and donors) to get engaged as the race hit its stride over the summer, but Kerry’s fundraising totals suggest people are already engaged and they’re prepared to help make a change in Washington.