Fed chairman Ben Bernanke’s nickname is “Helicopter Ben.” He’s called this because he once said he’d dump money from a helicopter on the country if we even ran into deflation problems. Well, maybe Barack Obama should take a cue from that.
Politico is reporting that Barack Obama raised $1 billion all totalled during his presidential run. Now that he’s in charge and he’s overseeing the worst economic picture in 70 years, may we suggest he take the leftover money fly across the country and dump it on the public? How could that hurt his already rather high popularity?
Politico: When the 2008 campaign books are closed, the Democratic president-elect will shatter another record by coming close to, or capturing, the title of the first billion-dollar candidate.
That’s roughly how much the Obama finance team will have raised for his campaign, convention, transition and Jan. 20 Inauguration events.
The vast majority of the donations were generated during the unusually long primary and general election campaigns. A financial disclosure report scheduled to be released Thursday is expected to show that Obama raised more than $100 million in the final month of the campaign, campaign aides said.
That will bring the grand total for his campaign to more than $750 million — more than the combined sum raised by President George W. Bush and his Democratic rival, John F. Kerry, in the record-setting 2004 campaign and nearly as much as the total raised by all the presidential contenders then.
The Obama team also helped raise more than $50 million for the Democratic convention’s host committee in Denver and more than $100 million for the Democratic National Committee. He’s still raising money for his transition and Inauguration. Four years ago, Bush raised $40 million for his Inauguration.