Hillary Clinton announced today that she is loaning her presidential campaign $5 million of her own money. Barack Obama responded with his own campaign – to raise the same $5 million in individual contributions. Looks like he’ll do it in about one day. I pulled this graphic from the email his campaign manager sent this evening asking donors to match her loan.
Now, it may seem like he’s kicking her while she’s down, but the huge headlines declaring that Hillary’s campaign coffers are running dry and that her campaign staff is now searching through trash bins seems a bit a over-the-top. She’ll make the money back quickly in contributions and power through March.
But, it is, as always, a fascinating look at how the Internet has driven these campaigns. Obama raised $32 million in January, taking $28 million of it online. That’s 87% of his fundraising for the month. The reach of his campaign and the number of small donors this online system can engage is staggering. With PayPal, Google Checkout and other ready-made online checkout systems, contributors needn’t even get out their checkbooks.