Obama, Dems hoping to raise $60M by late June

By KEN THOMAS | June 1, 2011 | 6:43 PM EDT

WASHINGTON (AP) — President Barack Obama's key fundraisers are being asked to raise $60 million for the president's re-election campaign and the Democratic Party by the end of June.

Two people familiar with the fundraising goal say it was part of a presentation in Chicago on Wednesday to top Democratic fundraisers. The two spoke on condition of anonymity because they were not authorized to discuss the private meeting publicly.

Obama raised $750 million in 2008 and his advisers have privately told donors that they hope to match the amount or exceed it. Some estimates say the 2012 re-election campaign could pull in $1 billion.

The Obama campaign has already held several joint fundraisers with the Democratic National Committee as it prepares for next year's presidential election.