Awww! That’s like so sad! Apparently The One, the Rock-Star-Money-Machine, Senator Barrack Obama himself is now cash strapped, fighting for his political life and is unable to support and stump for the
down-ticket Dems. I guess right about now he’s wishing he had stuck to that pledge on public financing.
Mark Impomeni writes about it here: http://news.aol.com/political-machine/2008/09/16/cash-strapped-obama-turns-down-dem-senators/
Earlier this week, the Obama campaign announced that it raised $66 million in the month of August. That figure was hailed as a recordfor a single month in many media accounts. But left out of the analysis is the amount of money that Obama had to spend to raise that cash, known as the burn rate. At the end of July, the campaign reported having cash-on-hand of $66 million. Add in the $66 million the campaign raised in August, and the campaign would have $132 million available if it spent nothing. But the Obama campaign reported having $77 million in the bank at the end of August, meaning that it spent $55 million during that time frame. In other words, the campaign spent 83% of what it raised in August, netting only $11 million of that record total.
Hmmm… it seems the funds are drying up and the fundraising is now costing nearly the amount raised. How awful! I’m so sad! NOT!
In fact, quite the opposite is true. I find a smile on my lips and a sense of satisfaction in my heart. No wonder Barbara Streisand had to throw a big fundraiser for him! He’s going to need a lot more than Hollywood endorsements and over the top $28,500 a ticket parties to make it through the next 47 days!
CQ
And CQ, isn’t it ironical that Obama was just dissing McCain for being out of touch with all us “little people” and then scurrying back to the purse-straps of the rich folks in California.
Suspect he’ll be kept muzzled lest he insult and demean all the clingy, bitter, little folks now that he’s back with his arugula pals.
[...] breakfast menus everywhere! Not only is he cash strapped and begging Babs and her friends for $$$$ http://caffinequeen.wordpress.com/2008/09/17/cash-strapped-obama/ now he’s losing high powered Democrats. More importantly he’s losing wealthy, [...]
I bet someone reminded him NOT to record his remarks at the party! So as not to be overheard dishing on us “little people” and our lack of Arugula and all!
CQ