NoQuarterUSA.Net

NoQuarterUSA.Net

A new campaign finance report released by President Barack Obama’s re-election team suggests a broad base of donors support him.

Instead of a $10 million dollar check from Sheldon Adelson or millions in super PAC cash, most of Obama’s donors (98 percent) have given gifts of the $250 or less. This fundraising trend resembles the president’s first run for office.

[ALSO READ: “Did Obama Flip Flop On His Criticism of Super PACs?”]

Obama’s campaign, however, is also trying to downplay the role played by rich donors from Wall Street and Hollywood. This week, the president was expected to take in $8.6 million from eight high-priced fundraisers.

In the 2012 election cycle so far, Obama has raised close to $250 million for his campaign and for the Democratic National Committee. Analysis by several media outlets suggest January is the president’s best financial month yet.

[ALSO READ: “Mitt Romney: The Man Who Can’t Close”]

Mitt Romney’s campaign on the other hand is almost the complete opposite. In spite of his inability to stave off competition from former frontrunner Newt Gingrich and current threat Rick Santorum, the former Massachusetts governor has hauled in close to $56 million, mostly from the donors (60 percent) who contribute the $2,500 maximum.

(Click here to view a rather snazzy interactive feature on campaign finance -- NYTimes.com)

The one percent supporting the one percent, is how the Obama’s re-election campaign has played it. Jim Messina, the president’s campaign manager, used Romney’s rich donors and multi-million super PAC haul as an excuse to do an about face on a criticism of unrestricted fundraising done by shadow groups.

Although some have chalked it up to the realities of today’s politics, the influx of cash into the electoral process suggests few average citizens could afford to campaign for city mayor, let alone in a presidential race.