Obama brings in $86M for campaign

WASHINGTON -- Off to a huge early lead in the money race, President Barack Obama hauled in $86 million for his re-election campaign and the Democratic Party in the past three months. It's better than he did in his first presidential campaign, despite the sluggish economy and constant criticism from Republicans who hope to replace him.

The president's advisers have told donors they hope to match or exceed the $750 million they raised in 2008, perhaps bringing in as much as $1 billion.

Obama's campaign said yesterday it raised more than $47 million and the Democratic National Committee brought in more than $38 million through the end of June, surpassing a stated goal of $60 million combined. Campaign officials sought to use the numbers to put to rest any questions about support, noting that more than 550,000 people gave money, many for the first time.

Despite no primary opponent and potentially months to determine a GOP nominee, Obama's team has prepared for a stiff challenge amid rocky economic conditions and tricky negotiations over the nation's debt ceiling.

Obama's fundraising juggernaut outpaced Republican presidential candidates, who have collectively reported about $35 million so far, although some candidates have yet to release their results. At the same time in 2007, 10 GOP presidential hopefuls had raised more than $118 million, according to the nonpartisan Center for Responsive Politics.

Former Massachusetts Gov. Mitt Romney leads the GOP field in fundraising, pulling in $18 million during the past three months, and an independent group supporting Romney's presidential bid has raised $12 million this year. Other Republicans have been in single digits, including former Minnesota Gov. Tim Pawlenty, who collected $4.2 million in the past three months, and former Utah Gov. Jon Huntsman, who reported $4.1 million, about half coming from his personal wealth.