Obama broke FEC disclosure rules in 2008
Indeed, FEC requirements state that contributions which top $1,000 and which are received in the final 20 days preceding an election must be disclosed on a daily basis and within 48 hours.
The audit found that 1,312 donations amounting to 1,972,266 were disclosed improperly during Mr. Obama‘s 2008 campaign. However, the sum involved represents a drop in the ocean if one considers that Mr. Obama raised a total of $750 million in the months prior to his victory.
Mr. Obama‘s spokesman, Ben LaBolt, played down the significance of such a mistake and pointed out that this was the only error discovered by the auditors.
“The FEC conducted a routine review of the 2008 campaign as it did with the McCain campaign and many others. And out of the more than $750 million raised from more than 4 million Americans, it found one reporting issue involving a fraction of those contributions,” Mr. LaBolt said. Indeed, the $2 million represent a mere 0.27 percent of the total donations received by the Obama campaign some four years ago.
The audit disclosed that, “A majority of the missing 48-hour notices arose from a transfer reported on October 24, 2008 from the Obama Victory Fund (OVF), a joint fundraising committee composed of OFA [Obama For America] and the Democratic National Committee (DNC).”
University of California-Irvine’s Rick Hasen, an election law professor, wrote on his blog that the revelations were insignificant. “For an audit of a campaign of over $700 million, this is a very clean report,” he stated.