Obama Loses 2008 Campaign Donors

Donors aren't giving as much or as quickly as they did in 2008.

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President Obama is losing 2008 donors. (Getty)

News One is reporting that President Barack Obama has lost millions of dollars in support from former donors in Democratic strongholds and in districts that he won narrowly four years ago, according to an Associated Press analysis of the most recent federal campaign-finance data.

Tens of thousands of supporters who gave him hundreds of dollars or more in the early stages of the 2008 campaign haven't offered him similar amounts of cash so far in this campaign. And in some cases, former Obama contributors gave to GOP candidates, such as former Massachusetts Gov. Mitt Romney.

Obama's re-election effort is hardly hurting for cash: His campaign and the Democratic Party raised more than $70 million for Obama's re-election in the July-September period, outstripping all Republicans combined by tens of millions of dollars.

But the AP's analysis indicates that Obama, beleaguered by a struggling economy, has lost early support from some of his larger financial supporters and will have to work harder to win back party stalwarts and swing voters alike. Obama's approval ratings have slumped to 41 percent in a recent Gallup poll as steadfast supporters have found themselves less able or less willing to open their wallets again.

Well, we are in a recession, so it is possible that folks are not donating as much or as quickly because they have fewer financial resources. People could be waiting until we get closer to the election. One of his strengths is raising money for his campaign, so replacing those lost contributions should not pose too much of a problem. At this point, if you don't know who you're voting for in 2012, then you probably aren't voting.

Read more at News One.

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