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Obama Campaign Funding Surges

Barack Obama's presidential campaign reported that it and the Democratic National Committee together raised $86 million for the second quarter, blowing past what they said had been their goal of $60 million for the period.

Obama himself raised $47 million—more than he raised in the second quarter of 2007, and more than the entire GOP presidential field that has reported its cash haul so far.

Barack Obama
CNBC.com
Barack Obama

The campaign cited more than a half million donors who gave an average of $69 per contribution.

The fundraising haul demonstrates that Obama has not lost his Internet fundraising Midas touch, and sent a strong signal to potential 2012 GOP candidates who may still be weighing entering the race.

"There is no doubt that they are taking advantage of the power of incumbency," Kevin Madden, a Republican consultant and former spokesman for GOP candidate Mitt Romney, told CNBC.

"The biggest challenge that money poses to any eventual Republican nominee is that it allows them to get aggressive with resources as it relates to the electoral map," Madden said. "But voters are borderline exasperated with President Obama's performance on the economy, so he will need every penny he raises."

The numbers impressed long-time Democratic presidential campaign advisor Bob Shrum.

"We haven't ever seen anything quite like this in politics," he said. "And my guess is that by the end of this campaign, we will never have seen anything like the total that the president raises."

Shrum said the number of contributors to the campaign should put to rest the idea that liberals have soured on Obama. "The progressive base is obviously happier than the progressive talkers are," Shrum said. "He'd done a terrific job as president."

The Obama campaign was quick to tout the new figures, releasing a video from Campaign Manager Jim Messina early Wednesday morning.

"The most important thing isn't the dollar total, but the number of people who pitched in to own a piece of this campaign," Messina said in the video. The campaign said 552,462 people contributed, giving it more grassroots support at this point in the race than "any campaign in political history," Messina said.

He said that Obama already has 60 field offices open and operating around the country.

Despite the impressive numbers, Obama by himself did not match the total that Democrats took in at this point in the last election cycle. At that time, there were two dominant candidates engaged in an energetic race for the Democratic nomination, Obama and Hillary Clinton, who combined for a haul of more than $60 million.

"We haven't ever seen anything quite like this in politics," said long time Democratic presidential campaign advisor Bob Shrum. "And my guess is that by the end of this campaign, we will never have seen anything like the total that the president raises."

Shrum said the number of contributors to the campaign should put to rest the idea that liberals have soured on Obama. "The progressive base is obviously happier than the progressive talkers are," Shrum said. "He'd done a terrific job as president."

Slideshow: Richest Members of Congress ...

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