Thursday, January 25, 2007

Fundraising campaign gears up

The Obama camp says it will take at least $50 million just to have a 'seat at the table' in next year's primary. Other pundits claim $100 million is needed to be competitive.

If one has a good energized grassroots organization with volunteers willing to work the phones, walk door-to-door, hand out flyers at rallies, supermarkets, etc., stuff envelopes and the like, Obama's estimate is probably more accurate.

Obama has many big names, particularly from Hollywood, that have committed to help raise money for him including George Soros, Oprah Winfrey, Warren Buffett, Steven Spielberg, Jeffrey Katzenberg, David Geffen, George Clooney and Matt Damon.

Soros can only contribute $2,100 personally and he has already done that, but his political action committee known as Hopefund can do much more. He can also raise money directly from his wealthy friends and associates.

Supporters with shallower pockets will probably contribute mainly through the Internet website, which has already established itself as the best way to make millions quickly through lots of small donations.

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