World 1 July 2011 Beltway Briefing The top five stories from US politics today. Print HTML 1. Almost half a million donors have contributed to President Barack Obama's campaign, according to a "thank you" sent from his official Twitter feed. It has not been confirmed whether he has reached the goal of raising $60m by the end of the second quarter (which ended on 30 June). Democrats claim they will easily hit this target. 2. In the Republican camp, speculation about donations is rife, although results won't be public until 15 July. Mitt Romney's campaign is expected to have raised around $20m in the quarter, less than the £30-40m some had forecast. However, he is still likely to far outpace everyone else in the Republican presidential field. Jon Huntsman -- who has been an official candidate for just nine days -- is the first to leak his figures, which are reportedly around $4.1m. However, according to ABC, "less than half" came from Huntsman himself, meaning that he actually raised around $2m. Ron Paul announced on his Facebook page that he's raised $4.5m -- double the amount he raised at this point in the last election cycle. Details about the others are less forthcoming, although Michele Bachmann is expected to have had a good quarter following all the publicity she has received in recent weeks. 3. Mitt Romney, the Republican frontrunner, appeared to back-pedal from his claims that Obama has made the recession worse. In early June, he said that Obama "didn't create the recession, but he made it worse and longer." He said the same thing on Monday. However, when an NBC producer asked him yesterday to explain why Obama's policies hurt the economy, he said "I didn't say that things are worse", adding: What I said was that [the] economy hasn't turned around, that you've got 20 million Americans out of work, or seriously unemployed; housing values still going down. You have a crisis of foreclosures in this country. The economy, by the way, if you think the economy is great and going well, be my guest. But the president of the United States, when he put in place his stimulus plan and borrowed $787 billion, said he would hold unemployment below 8% -- and 8% seemed like an awfully high number. It hasn't been below 8% since. That's failure. We're over 9% unemployment. That's failure. He set the bogie himself at 8% ,which strikes me as a very high number and we're still above that three years later. 4. Thaddeus McCotter, a Michigan congressman, will file paperwork to enter the 2012 presidential race today. The little known Republican spent four days in Iowa this week, and reportedly left "feeling positive". The former Iowa House Speaker, Chris Rants, will serve as his senior adviser in the state, although he previously endorsed Romney. Despite McCotter's low profile amongst Republicans across the country, Politico notes that he is popular with the conservative media crowd. The commentator Andrew Breitbart told the publication that McCotter was "blunt, sarcastic, pop-culture-savvy, constitutionally sound and an authentic voice." Not sure who he is? Here is a vintage video of him explaining "How to speak Democrat" in 2008. Suffice to say comic timing isn't his forte. 5. Timothy Geithner, the Treasury Secretary, will leave his job in the autumn if economic conditions improve and the debt ceiling debate is resolved, according to a senior administration official. The news has been reported by several US media outlets, including Bloomberg. While it is too early to say whether he will definitely depart (and indeed, there are too many caveats to be sure), it would be a significant loss. Geithner is the last member of Obama's original economic team still with the administration. Possible replacements are already being touted, with the list said to include Erskine Bowles, White House chief of staff under President Bill Clinton, and Roger Altman, a top investment banker and former deputy Treasury secretary. › Web Only: the best of the blogs Samira Shackle is a freelance journalist, who tweets @samirashackle. She was formerly a staff writer for the New Statesman. Subscribe More Related articles Clinton vs Trump: How does the electoral college work? 5 times Hillary Clinton completely owned Donald Trump US presidential debate: Hillary Clinton might have triumphed over Donald Trump but does it really matter?