The Dems’ fundraising success may be the biggest surprise of the year. No one, probably not even Dem leaders, could have expected so much financial support from so many people.
In light of the fundraising trends for the past several decades, it’s been assumed that Republicans will always far exceed Dem fundraising. Not anymore.
John F. Kerry and the major Democratic Party committees have collectively outraised their Republican counterparts this year, blunting one of the GOP’s biggest and longest-standing political advantages, new Federal Election Commission reports show.
For the first time since 1992, the Democratic candidate and the national and congressional fundraising committees combined to outraise their GOP counterparts over a six-month span of an election year, FEC data compiled by The Washington Post found. From Jan. 1 through June 30, Kerry and Democrats raised $292 million, compared with $272 million for President Bush and Republicans.
Hmm, didn’t something else interesting happen in 1992?
Kerry’s success in particular is nothing short of stunning. Kerry is already the best financed challenger ever, having raised $36.5 million in June and a whopping $99.2 million in the second quarter. It was, as the campaign noted yesterday, the single best quarter any candidate — from any party — has ever had in presidential campaign history.
But wait; there’s more.
Bush, who fundraises far better than he governs, has still outraised Kerry. Indeed, BC04 has raised $226 million for its campaign, of which $64 million is left. This, in and of itself, is amazing. Bush has spent $162 million — before August even rolls around — to overwhelm Kerry and go into the conventions in a strong position.
It has been a terrible failure. Bush may have spent like a drunken sailor, but his approval rating is still in the mid-40s and he’s still trailing Kerry in general election match-ups.
So, what’s driving all of this money into Dem coffers? The Post’s Tom Edsall points to two developments, both of which I find persuasive.
Predictions of a Democratic implosion [post McCain-Feingold] failed, however, to anticipate two related developments: First, that hostility to Bush would mobilize liberal donors as never before; and second, that the Internet would provide an easy and accessible way to make contributions by credit card.
It’s also worth noting that Dems are not just pouring support into the presidential race.
House Dems, for example, are looking good, having their best June ever.
The Democratic Congressional Campaign Committee (DCCC) out-raised the National Republican Congressional Committee (NRCC) by $2.2 million ($9.2 million vs. $7.0 million) in June, according to numbers released by the NRCC today. The DCCC is also nearly at parity with the NRCC in cash-on-hand – $20.2 million vs. $18.5 million.
The DCCC has raised a total of $55.4 million for the cycle — more than double the hard money receipts the DCCC had raised at this time in 2002.
And Senate Dems are getting support as well.
The Democratic Senatorial Campaign Committee outraised its Republican counterparts by a 2-to-1 margin in June and by roughly $4 million from April 1 to June 30, marking the first quarter it has “won” the fundraising race in the 2004 cycle.
The DSCC brought in $15 million — including nearly $8 million in June alone — to the National Republican Senatorial Committee’s $11 million, according to the committees’ July quarterly reports.
Dems are organized, united, and getting the support they need. There’s reason to be optimistic.