Obama Donates $4.5M to Desperate Dems

President Barack Obama, campaigning for fellow Democrats in the final days before the midterm elections, has put his own money on the line.

Obama donated $4.5 million from his presidential campaign account — more than half of the money left over from his record-setting fundraising — to the three Democratic party fundraising committees last month, Federal Election Commission reports show.

Obama gave $1.5 million apiece to the Democratic National Committee and the fundraising arms of the Senate and House Democrats.

The $4.5 million accounted for 94 percent of the money his presidential committee spent between July 1 and Sept. 30 and represented more than half of the $8 million remaining as of June 30 after raising a record $749 million for his successful campaign for the White House.

The donations are in addition to the more than $19.4 million he has raised since the beginning of August for the Democratic Party and its candidates for the 2010 elections.

The Democratic Party’s committees have outraised their Republican counterparts, though spending by Republican-leaning outside groups, most of which do not disclose their donors, has offset that advantage.

Sen. John McCain of Arizona, the 2008 Republican presidential nominee, used leftover presidential funds to donate $28,000 to Republicans running this year, including $2,000 apiece to Senate nominees Joseph DioGuardi in New York, Carly Fiorina in California, and Joe Miller in Alaska.

McCain also transferred $1 million from his legal and accounting fund to the National Republican Senatorial Committee.