Obama’s Money Ban Puts Crimp on Dem Convention

Don’t expect the 2012 Democratic convention in Charlotte, N.C. to be very fancy. That’s because President Barack Obama banned corporations and lobbyists from helping to finance the event, Politico reports.

N.C. Gov. Bev Perdue

“I would say it would make the fundraising for [North Carolina] Gov. Bev Perdue and the host committee exponentially more difficult and more challenging,” said Mike Stratton, a lead fundraiser for the 2008 Denver Democratic convention host committee that raised more than $50 million.

The Charlotte convention host committee is supposed to come up with $40 million, but that total may end up much higher if the city doesn’t receive federal assistance for the stringent security required at such events.

In 2008, Congress gave $50 million to each party for convention security. But that money came in an earmark, and Obama promises to veto earmarks this year.