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Shawn Steel

Shawn Steel, an attorney, is a former Chairman of the California Republican Party.


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Today's Commentary on the News


Obama Swimming In Money -- More Than All Presidential Campaigns Combined


by Shawn Steel - Statewide (bio) (email)

7-22-2008 8:10 am

Know of a liberal college student needing summer work?  At U.C. Santa Cruz , my daughter's school this Fall, i found this announcement posted throughout the campus.

Wow, for helping kicking out the GOP of the White House, any student can get up to $8000 as a summer campaigner. After observing politics a while I've never seen such a deal. This year the Dems are swimming in money. Barak just announced his take in June was over $50 million, outdistancing McCain 2-1. Even the hapless DNC, forever broke under Chairman Dean is matching nicely against the RNC, just a few weeks after the Obama takeover of those operations. 

And that money doesn't even include the  fabulous 527s, those underground secretive money laundering operations, which are overwhelmingly in the dem camp. Strange ironies for McCain-Feingold.  Billionaires for Obama, re their donating history  includes Eli Broad, real estate [93% for dems], Ron Burkle, supermakets and FOB [ 98%]; Charles Kushner, real estate and felon, [98%]; George Soros, financier and professional anti American [25% dem, 0 rep and 75% for radical causes]; Steven Spielberg, filmmaker 93%. []. 

Despiite Barak's lavish and public support for campaign financing reform his entire political life, he renounced the long established position for this election. This is  first time any Presidential candidate has taken this course. 

As we speak the RNC has about $95 million COH. The DNC is matching its opposite with $92 million COH.   McCain will get a $84.1 million federal grant for his general election. Obama saves taxpayers this money and will continue exploiting his money machine. McCain's finances by definition  are limited. He can't raise any  more money directly for his campaign. For Obama the sky is the legal limit.  

According to the Los Angeles Times, Obama is now forming a "Committee for Change". The COC is a joint fund-raising  account to concentrate on traditional battleground states such as Colorado, Florida and Missouri, but encompassing Republican territory such as Alaska, North Carolina and North Dakota.    North Dakota !

I predict that Obama will raise an additional $325 million for his campaign. That plus DNC money at $25 million a month, plus groups like the Committee of Change, then let's add the 527's and union money we will see easily over $500 million to $ 1 billion spent for Obama's Presidential aspirations in the next 4 months. 

So, perhaps the $8000 for  UC students to work for the Grassworks Campaign [via the DNC] is not an unreasonable amount of money. The dems are swimming in money. Obama may be able to raise more money for his cause than all presidential campaigns in US History combined. 

Should McCain walk through this money mine field unscathed and win, dem billionaries and professional Dem fundraisers will probably commit mass suicide.

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