With a Republican House, Obama may not be getting a whole hell of a lot done (on the debt ceiling, or any other kind of meaningful legislation), but at least he’s getting his house in order for the Presidential contest, which is a little more than a year from now. The Democratic National Committee and the President’s reelection committee together raised a combined $86 million in the second quarter of 2011. Excluding Michele Bachmann, who as of yet has not reported her fundraising totals, the entire Republican field has raised $35 million.
In the past few election cycles (2004, 2006, 2008), the historical edge that the GOP has held in terms of raising money has been blunted. And while many GOP donors are waiting to give until a clear frontrunner emerges, their anemic fundraising in this election cycle is likely to continue to match the quality of their candidates. I think that if we continue to see these kinds of numbers, it’s safe to say that automatic Republican cash advantage has probably vanished forever.