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Democrats hope to raise $1bn war chest

While Republican candidates are scrapping it out in South Carolina, the powerful re-election machine behind President Barack Obama has already set a pace of fundraising almost certain to shatter records for the sheer amount of money flowing into US politics.

world Updated: Jan 23, 2012 00:34 IST

While Republican candidates are scrapping it out in South Carolina, the powerful re-election machine behind President Barack Obama has already set a pace of fundraising almost certain to shatter records for the sheer amount of money flowing into US politics.

Obama's campaign, called Obama for America, and the Democratic National Committee, the governing body of the Democratic party, together brought in a staggering $220m in 2011. Though no definitive Republican challenger has yet emerged, that influx of cash should easily put Obama's team on course to beat the $750m they brought in during 2008's history-making election.

Such vast amounts of cash will give the Democrats a powerful, and necessary, weapon to fight what is expected to be a closely contested election, given the still uncertain health of the American economy. After all the Republicans are expected to raise similar amounts of money.