WASHINGTON ( TheStreet) -- President Barack Obama launched his 2012 re-election campaign in a video, and in an email and text message sent to his supporters on Monday.

Once Obama's campaign officially files papers Monday with the Federal Election Commission, he can begin fundraising for his re-election.

Reports over the weekend said Obama could raise upwards of $1 billion for the effort; he raised $750 million in 2008 to get elected.

In his email, Obama said:

"We're doing this now because the politics we believe in does not start with expensive TV ads or extravaganzas, but with you --- with people organizing block-by-block, talking to neighbors, co-workers, and friends. And that kind of campaign takes time to build.

"So even though I'm focused on the job you elected me to do, and the race may not reach full speed for a year or more, the work of laying the foundation for our campaign must start today.

"We've always known that lasting change wouldn't come quickly or easily. It never does. But as my administration and folks across the country fight to protect the progress we've made -- and make more -- we also need to begin mobilizing for 2012, long before the time comes for me to begin campaigning in earnest."

Obama's video, launched on YouTube, is titled "It Begins With Us."

-- Written by Joseph Woelfel

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