Barack Obama announces 2012 re-election bid

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Barack Obama announces 2012 re-election bid

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U.S. President Barack Obama has officially launched his campaign for re-election.

In a statement Monday, Mr. Obama said he is filing the required paperwork with the Federal Election Commission, which allows his campaign to begin soliciting donations.

He said the country is “fighting to protect the progress” it has made, and he called on his supporters to help shape a campaign that is “more innovative than anything we have built before.”

Mr. Obama's campaign website also featured a video of supporters talking about why they are backing the president in his bid for a second, and final, four-year term.

Mr. Obama is scheduled to hold his first campaign fundraiser in Chicago on April 14, with others to follow in New York and Los Angeles.

His campaign staff has said it expects to raise between $750 million and $1 billion before the November 2012 election.