Washington (CNN) -- President Barack Obama's campaign manager on Thursday urged deep-pocketed and well-connected donors to each pledge to raise $350,000 this year, a sign that the president could raise upward of $1 billion for his re-election.
The contributors were asked to raise the money during a Democratic Party meeting in the nation's capital, according to The New York Times, which first reported the story.
The donors could be asked to raise more money in 2012.
A Democratic Party official, speaking on the condition of anonymity, confirmed the details of the Times report to CNN.
The Times said the fundraising goal for this same group of supporters in the 2008 primary and general election campaigns, combined, was $250,000.