The Facts About Obama's Campaign Financing

[berni_mccoy]

I can't believe this is necessary but, sadly it is. Too many people here are falling for a false story about Obama receiving X millions in campaign financing from the Health Care Industry.

So here are the facts.

From OpenSecrets.org:

Individual contributions $656,357,572 88%
PAC contributions $1,830 0%
Candidate self-financing $0 0%
Federal Funds $0 0%
Other $88,626,223 12%

Less than 0.0002% came from PAC Contributions.

The "Other" Category, as defined by the FEC and OpenSecrets.org:

All other revenues collected by the campaign, such as interest from the campaign's bank accounts and loans from outside sources. This figure is calculated by subtracting PAC, individual and candidate money from total revenues received. Negative numbers generally indicate an accounting error by the campaign.

The Obama campaign received more in INTEREST than they did from special interest PACs. The rest came from individuals, people, voters, who supported the President. Not corporations. Not Health Insurance companies. PEOPLE. Millions of them.

I thought we had already debunked this kind of crap here, but apparently the desperate haters have to raise the specter of an industry financed candidate to paint Pres. Obama as the boogeyman.

Never has a sig-line graphic been more appropriate for this place.

[babylonsister]

1. Facts? FACTS? How DARE you!

:fistbump:

[NJmaverick]

3. LOL! SCORE!

:toast:

[Cha]

2. Mr bernie..

Thank you.

[LiberalFighter]

4. Some people will just twist the facts and rely on the ignorant not to know the truth.

Thankfully, DU has the resources.

[amborin]

5. Open Secrets says Obama got big bucks from Goldman Sachs & other banksters:

Goldman Sachs $994,795 ***********
Harvard University $854,747
Microsoft Corp $833,617
Google Inc $803,436
Citigroup Inc $701,290 ************
JPMorgan Chase & Co $695,132 *************
Time Warner $590,084
Sidley Austin LLP $588,598
Stanford University $586,557
National Amusements Inc $551,683
UBS AG $543,219
Wilmerhale Llp $542,618
Skadden, Arps et al $530,839
IBM Corp $528,822
Columbia University $528,302
Morgan Stanley $514,881 *****************
General Electric $499,130
US Government $494,820
Latham & Watkins $493,835

[amborin]

6. And: Obama got $19.4 mill from Health Industry, more than ANY other Candidate!

http://www.opensecrets.org/pres08/sectors.php?sector=H

[laughingliberal]

7. That's a little inconvenient for someone who didn't run for president to help the fat cats nt

[katandmoon]

8. So what you're saying is, Obama didn't take their money while he was trying to maintain his image

Of the change candidate while running for president. He didn't really have to anyway - his fund raising operation was phenomenal. He didn't need to rely so much on corporate handouts. He could afford to look relatively untainted by it.

Now that he's president, though? Obama governs just like he DID take big corporate money and IS behold to them.

That, to me, is the only thing that counts.

[berni_mccoy]

10. So you resort to baseless claims and accusations against the president since the facts don't support

you? He's "acting" like he took money, so therefore he must have?

First haters say he's taking money.

Then when they are proven wrong they say he's acting like it.

Got it.

[GreenTea]

9. Most know this and are pissed Obama has ignored the people - The public option for one, in favor of

Insurance corporations, banking corporations, weapons corporations, corporate war profiteers and other corporations....even when it was the people who gave the lions share of contributions and donations to Obama's campaign....Many feel stiffed...If you don't fine....I certainly do!

[berni_mccoy]

11. So that justifies making up lies? Because you feel abandoned it's time to lie him out of office.

O.K.

[GreenTea]

16. Get fucking real....Facts of Obama and corporations

are as obvious as they are fact....Obama never went all out and spent time hitting the road day after day after day for the very important public option...he never twisted arms as is necessary ala FDR to get monumental legislation passed...he needed to demand a public option, put pressure on All Dems who didn't fall in line, instead of going after some fucking republican for month's like Olympia Snowe who was NEVER going to vote for the Bill & didn't...Now we have a corporate insurance bill that does very little to help or add competition for the insurance industry....His choice of banking advisers have allowed Wall Street & the Banks to have record bonus and profits at tax payers expense....and don't even talk about the trillions corporations will be making from the wars in Iraq and the escalation in Afghanistan.....You go bow and worship Obama no matter what....I see the reality, and the corporate one sidedness of Obama's 12 month's in office on January 20th he'll been in office exactly one year....I'm not going to blindly praise his corporatism as you have!

[Horse with no Name]

12. However, it has been posted here before

that MANY of the "individual" contributions came from "individuals" IN those healthcare corporations.
It is all about smoke and mirrors and has been since day 1.

[JimWis]

13. Thanks Berni - K&R

[Scurrilous]

14. K & R

:thumbsup:

[Stinky The Clown]

15. No he didn't! Yes he did! No, he did not! Oh yes he did! No! Yes! ........

[berni_mccoy]

17. Wow, you really missed the point

The facts cannot be refuted. If someone makes a clearly factual post and it gets 30 recs because people want to cheerlead it to the front page, someone needs to set the record straight.

[Stinky The Clown]

18. What point was missed?

I disagree with what you said. To wit: "If someone makes a clearly factual post and it gets 30 recs because people want to cheerlead it to the front page, someone needs to set the record straight."

Factual posts are good things.

Halfacts are not.

And why are you counting recs? I thought the cognoscenti deemed that lame and silly.

[GreenPartyVoter]

19. Huh. I guess it's not true then that pols always dance with them what brung 'em.