Obama’s Early Announcement For Election: Fundraising?

On Children’s Day, Taiwan was in the middle of its Qingming long weekend, a time dedicated to our deceased loved ones. Cars jam the highway as people return home to remember their loved ones. Coincidentally, Obama announced on Facebook his participation in the presidential election of 2012.

No matter from which perspective, Obama’s actions seems to be in a little too much of a hurry. Historically, presidential candidates are nominated during both parties’ national convention. Whether Democrats or Republicans, the quadrennial national convention will be called upon by the National Committee, usually the summer before the election. After the nomination, the election campaign will commence and continue for some time. On the second Tuesday of November, the president will be elected, followed by the inauguration on January 20 of the next year. This is a historical tradition that has never changed.

The date for both parties’ national convention has been set for next year: Republicans will host the meeting from August 27 to 30; Democrats from September 3 to 6. The location has not been decided and depends on factors like accommodation and transportation.

Obama has thrown his hat into the ring 17 months before the national convention, hoping to preserve an advantageous spot in the race for presidency. However, this hope does not come without obstacles.

Obama is known for his clear thoughts, articulation and for being the first black President of the United States. He is greatly favored by the liberals of the East and West coast. But in the conservative Midwest, he hasn’t gained too much support. Despite his very early announcement of participating in the next election, this did not scare the Republicans away from jointly competing for the presidency.

Republican leaders who have emerged on stage and announced intentions to compete for the presidency are: ex-Mississippi Governor Haley Barbour, ex-Ambassador to the United Nations John Bolton, Massachusetts Senator Scott Brown, the younger brother of Bush junior, Jeb Bush, and current New York Mayor and independent Michael Bloomberg.* They are all respectable and tough competitors and Obama will have a hard time concluding the state of affairs.

So why is Obama sticking his head out first before getting a clear picture of the competition? In short, he wants to begin fundraising before other candidates, more specifically, a $1 billion war chest for his campaign. He predicted other candidates will have a harder time holding out their hands, certainly not as easily as he does.

The U.S. Campaign Financing Act prohibits financial groups and corporate bodies from funding the elections. Therefore most of the fundraising is conducted by 527-registered Political Action Committees asking individuals to donate, and the process is tedious and quite ineffective. As the president of the United States, Obama has a head start fundraising for his campaign before his rivals do. Although an unfair advantage, no laws prohibit him from doing so.

Obama has to do this because of various dilemmas: It has been 10 years since 9/11, and the U.S. economy has not improved in a positive light. Republicans took the majority in the House of Representative last year, dominating the political landscape, and the Senate is facing a similar situation. In next year’s presidential nominations for both parties, Republican Minnesota Congresswoman Michelle Bachmann will perhaps be the first woman to reach for the White House with the full support of the tea party. We cannot forecast whether Obama will succeed in re-election. Just wait and see for yourself.

*Editor’s note: None of these individuals has in fact announced the intention to run for president.