Obama campaign raises $70m in third quarter

Washington, Oct 14: US President Barack Obama’s campaign team has reportedly raised 70 million dollars in the third quarter.

The campaign easily exceeded its 55-million dollars goal, but it came in at less than its second-quarter take in part because of the cancellation of more than a dozen fundraisers when the president was pinned down in Washington by the summertime debt crisis, the Los Angeles Times reports.

Nevertheless, the tally outdistanced anything raised by the GOP candidates.

Reports suggest that of the 70 million dollars total, 42.8 million dollars were raised for Obama for America, the president’s campaign committee, and 27.3 million dollars went to the Democratic National Committee, which has a higher maximum contribution limit for individuals.

According to the campaign, most of Obama’s money, 98 percent, , came from small donations of 250 dollars or less. In the last three months, more than 600,000 people gave money to the reelection effort. (ANI)