President Barack Obama is running for a second term and his re-election campaign is expected to raise an unprecedented $1billion. The president's campaign announced today in a web video posted on his campaign website and in an e-mail to supporters that he will run again in 2012. 'We're doing this now because the politics we believe in does not start with expensive TV ads or extravaganzas, but with you - with people organizing block-by-block, talking to neighbors, co-workers, and friends. And that kind of campaign takes time to build,' Obama said in an e-mail to supporters.
Running for a second term: Barack Obama has announced his plan to run for re-election in 2012
President Obama told supporters he was filing the necessary paperwork with the Federal Election Commission, and directed them to his new campaign website where a launch video featured snippets from supporters testifying about their continued backing of the Democrat.
The step was widely expected and planned to coincide with the second fundraising quarter of the year.
Filing paperwork will allow the president to begin raising money in earnest for what advisers hope will be a record-breaking haul of more than $1 billion.
'It's definitely within reach, as he raised three quarters of a billion last time,' said CFI Executive Director Michael Malbin.
'As the incumbent president it's quite plausible to imagine him raising $1billion.
Jim Messina, a former White House deputy chief of staff who will run Obama's re-election campaign, has been telling big supporters they will need to collect $350,000 each.
His campaign headquarters will be in Chicago will be staffed with White House veterans.
The president made his determination to secure a second term clear this week at a $30,800-plate fund-raiser at a popular New York restaurant.
'I could not do what I do ... if I didn't know that I had a lot of people out there rooting for me and a lot of friends supporting me,' President Obama told donors at the dinner on Tuesday, which raised $1.5 million for the Democratic National Committee.
Although he has received boost from the recovering economy, Obama's approval ratings could easily fall if the Libya war drags on and gas prices stay high, or if voters blame him for the huge U.S. budget deficit.
Read more: http://www.dailymail.co.uk/news/article-1373178/Barack-Obama-announces-2012-election-bid-1bn-campaign-expected.html#ixzz1IYBNfmRe
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