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The Collective
Saturday, June 21, 2008
By Dr. Steven Taylor

McCain closes the cash gap against Obama - Jeanne Cummings - Politico.com

For the first time in the campaign, Republican John McCain in May raised about the same amount of money, $22 million, as Democrat Barack Obama.

McCain also closed the gap in the amount of cash the two parties’ presumptive presidential nominees have in the bank at their respective disposals as they enter the first phase of the general election.

McCain reported having about $32 million in cash for primary-related expenses at the end of May.
Obama reported having $43 million in hand at the start of June — but about $10 million of that is dedicated to the general election.

Interesting, and surprising given the coverage of late that has cast Obama as substantially ahead of McCain in regards to money.

Of course, it is noteworthy that McCain was able to devote May to regrouping and and fundraising while Obama was still in the midst of the final throes of the Democratic Party’s nomination process. To wit: Obama spent $27 million in May, while McCain spent $12 million.

Indeed, if one looks at the numbers, one sees that while the money in the bank for primary-related expenses is the same (i.e., McCain with $22 million and Obama with $33), Obama already spent more than twice as much as McCain in May, and you can’t spend money you don’t have1 and he already has $10 million set aside for the general. That sounds to me, when you sum it all up, to a decided edge for Obama.

Of course, the real test for fundraising prowess (as well as a test for the Obama campaign’s eschewing of public monies for the general election campaign) will be how the two candidates do in June.

At any rate, I think that the Politico’s write-up is not all well-thought out as it should have been.

Speaking of campaign fund, however, Joe Gandelman does note that the RNC has had a rather good time of fundraising versus the DNC of late:

Sphere: Related Content

  1. Ok, you can: ask the Clinton campaign []
Previous Related Posts

Filed under: 2008 Campaign, US Politics | |

2 Comments »

  1. [...] GIVEN A LOT OF CREDIT because despite all of the criticism his campaign is getting (see above) his war chest is in a lot better shape the expected. CAN MCCAIN GET THE GAY VOTE? Pajamas Media’s B. Daniel Blatt thinks he has a better chance [...]

    Pingback by Around The Campaign 2008 Sphere June 22, 2008 — Sunday, June 22, 2008 @ 11:39 am

  2. I am wondering what the Democratic Party is going to do about the substantial debt that Hillary Clinton accumulated during the course of the primary. I know she has talked to Obama about getting some help:

    http://news.yahoo.com/s/ap/20080621/ap_on_el_pr/campaign_money

    Certainly not a long term problem, but in the short term it might cut into Obama’s fundraising efforts.

    I would expect him to raise more than McCain but how big a margin I’m not sure; when it comes to it, the big donors on both sides are always going to be the same; it’s hard to imagine hollywood supporting a Republican or Exxon supporting a Democrat. Obama will get a lot more grassroots donations from the little people, with his “change” slogan, as irritated as people are with the way they perceive things to be going - although McCain’s small donor contributions have been a bit surprising to me so far. Maybe he’ll make more than we thought. I had figured him as not a very good fundraiser. Shows how much I know! :)

    I’ve long thought that there is a point of diminishing return when it comes to campaign fundraising. You can only buy so many commercials and make so many phonecalls; at some point (I’m not sure where it is as a dollar amount) I think you’ve reached all you can reach, and it becomes less important how much you raise and more important how, when, and where you use the money that you have. I don’t think any amount of money Obama spent in Georgia would win him the state, likewise I think no fortune on this earth could buy McCain New York; so we’re back to the same old conversation about those pesky states that can swing either way, and you can only saturate those places to a finite extent. In the last presidential race, both parties spent fortuntes in these places and I’m not sure what it accomplished.

    Comment by Captain D — Sunday, June 22, 2008 @ 5:11 pm

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