Obama to Announce Re-Election Bid, Hopes to Raise $1 Billion
CNN reports that President Obama will announce his bid for a second term as President as early as Monday. His first fund-raiser will be April 14 in Chicago.
Fund-raising for Obama's re-election is likely to shatter all previous records:
The president is making his campaign official slightly earlier than is typical for an incumbent so he can get a jump on fund-raising in a season that's likely to shatter all records. Obama’s team has been asking campaign bundlers to raise $350,000 each, no easy task since campaign finance laws limit gifts to $2,500 per donor. Two sources tell CNN the campaign team hopes that in total their bundlers will raise $500 million, leaving the campaign to raise another $500 million and amass a record-breaking $1 billion war chest.
Obama raised $745 million for the 2008 election.
CNN says Dems are worried about the amount of money Karl Rove and the Hunt brothers are likely to raise for the eventual Republican nominee. And Donald Trump told ABC News that he's willing to spend $600 million of his own money if he decides to run.
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