Obama campaign expects lower summer fundraising

By KEN THOMAS | August 3, 2011 | 6:28 AM EDT

President Barack Obama delivers a statement in the Rose Garden of the White House in Washington, Tuesday, Aug. 2, 2011, following the Senate's passing of the debt ceiling agreement. (AP Photo/Susan Walsh)

WASHINGTON (AP) — The debt negotiations appear to have put a dent in President Barack Obama's campaign war chest.

Obama's re-election campaign expects to raise tens of millions of dollars less this summer than it did last spring because the debt limit talks forced Obama to cancel several fundraisers.

Obama raised a combined $86 million for his campaign and the Democratic National Committee during the spring.

But campaign manager Jim Messina says they will raise significantly less money this summer because they can't reschedule all of Obama's fundraisers. The campaign canceled or postponed 10 fundraisers involving Obama, Vice President Joe Biden and White House chief of staff Bill Daley during the past month.

Obama is attending two fundraisers on Wednesday in Chicago to celebrate his 50th birthday. The president turns 50 on Thursday.