McCain Camp: We Have Over $94 Million On Hand, With RNC Help
So much for Obama's vaunted financial advantage.
The McCain campaign announced today that they and the RNC have a combined cash on hand of over $94 million -- an indication that they'll very much be able to compete with Barack Obama's fundraising machine.
On a conference call just now with reporters, Rick Davis said that the campaign currently has over $26 million on hand, plus the RNC's over $67 million. They expect to have a total of $210 million between September and Election Day alone -- and a total budget of over $400 million for the pre-convention and general-election cycle.
For comparison, the current McCain/RNC total is about twice the combined Obama/DNC cash figure through the end of May, though the June numbers from after Obama sewed up the nomination have yet to be released.
"When you're starting with a cash position one half of your opponent who has never shown a propensity for fundraising, that's not where you want to be," Davis said.
Oh hey, there is a reason why primary candidates don't stay in until June regardless of the math after all.
July 10, 2008 2:57 PM | Reply | Permalink
Exactly. And some of the die-hard Clinton donors are refusing to donate out of pique.
July 10, 2008 3:00 PM | Reply | Permalink
Novak has a story about Obama being greeted by the rich donors just today! It goes,
"The first "questioner," an angry woman from New York, demanded a roll call of presidential preference at the Denver convention. Next came another distraught woman who declared that Clinton's candidacy was the victim of "misogyny."" http://www.washingtonpost.com/wp-dyn/content/article/2008/07/09/AR2008070901933.html?hpid=opinionsbox1
WANT. TO. LOSE.
July 10, 2008 3:41 PM | Reply | Permalink
Urg, idiots..
July 10, 2008 3:43 PM | Reply | Permalink
Thanks Johnny for pushing a right wing disinformation campaign. They depend on you idiots .... and they are never disappointed. Novak is the lowest you can go. Good job!
July 10, 2008 4:07 PM | Reply | Permalink
so where is the vaunted Obama fund-raising machine? Why is the DNC so cash-strapped? Where is the RNC getting all this money?
July 10, 2008 2:58 PM | Reply | Permalink
My questions too? Who's giving them anything?
July 10, 2008 3:27 PM | Reply | Permalink
I think McCain fundraising is a testimony to successful "Hussain," "Muslim," "Black militant," smear campaign.
Everyone, including the Obama camp, underestimated the affects of email smears. I can totally see the base being riled by fears of saving the nation from Obama extremism.
July 10, 2008 3:49 PM | Reply | Permalink
Ah, the hordes of Teh Stupid.
July 10, 2008 4:02 PM | Reply | Permalink
The thugs came up with a new contribution "loophole", $71,100 max instead of the $31,100 supposedly legal. During the closed door fundraisers that Bush had for this twit, the tickets were $71,100 that is how he raised $7 million in one night but OF COURSE MSM did not report on this
July 10, 2008 4:01 PM | Reply | Permalink
This again reminds me to make another donation to Obama tomorrow.
July 10, 2008 2:59 PM | Reply | Permalink
What the fuck is going on, Dems?
July 10, 2008 3:00 PM | Reply | Permalink
And since Republicans are basically crap this year, the RNC will probably spend the bulk of that cash on McCAin.
July 10, 2008 3:01 PM | Reply | Permalink
Hiya again, Pete.
Where are they getting all this money from? Who are these crazies bringing their loaded wallets to McFuddle?
July 10, 2008 3:32 PM | Reply | Permalink
Does McCain camp assume RNC is gonna spend every dime on the presidential campaign and not for any local, congressional or senate races?
Having said, it's alarming news for dems.
July 10, 2008 3:01 PM | Reply | Permalink
Yes.
July 10, 2008 3:06 PM | Reply | Permalink
Have BigO's fundraising numbers for June come out yet?
I'd be interested to see if his FISA cave-in has impacted his netroots contributions. Or at least see a few tea leaves that might support or refute those conjectures.
July 10, 2008 3:02 PM | Reply | Permalink
I do think he lost $5 million in expected donations from the nutroots.
July 10, 2008 3:07 PM | Reply | Permalink
I made multiple donations in response to all the "I'm never donating to Obama again!!" proclamations rattling around here for the last two weeks....
July 10, 2008 3:41 PM | Reply | Permalink
Hey, me too. ;)
July 10, 2008 4:00 PM | Reply | Permalink
Great cats think alike, and all....
July 10, 2008 4:31 PM | Reply | Permalink
From Marc Ambinder, July 7:
July 10, 2008 3:07 PM | Reply | Permalink
"I'd be interested to see if his FISA cave-in has impacted"
Yes, the one that TPM bellowed so reprovingly about. Interesting if attacking our own has any effect, beyond getting picked up in the major press about the left abandoning their candidate and all. I'd be interested!
July 10, 2008 3:36 PM | Reply | Permalink
They also said they're spending $10 million/month less than Obama, but outspending him on advertising 3:1.
Which suggests to me that Obama is investing much more heavily now in staff/salaries. Not necessarily a bad thing.
July 10, 2008 3:07 PM | Reply | Permalink
I saw that, but I'm not sure where they are getting their figures. May isn't a good month, since Obama hadn't sewn up the nomination yet.
July 10, 2008 3:09 PM | Reply | Permalink
I was just thinking about that - the money the RNC has can't be used (I don't think) for campaign staffing, etc. Would it really only be used for ads?
July 10, 2008 3:28 PM | Reply | Permalink
I did my part last month donating to Obama and the DNC.
July 10, 2008 3:07 PM | Reply | Permalink
I think Obamas numbers for June will be huge. He attended many, many fundraisers last month (and continues to), caching sometimes 5 million $ per event.
Also you would supsect that online fundraising spiked singnificantly after he got the nomination in early June, outweighing any "supposed" donation boycott because of FISA.
July 10, 2008 3:08 PM | Reply | Permalink
RNC always does much better than the DNC, at least recently. Given that, I don't think Obama was ever counting on the DNC chipping in that much towards his race for the presidency. He just better hope that the small contribs keep coming in. And, yeah, he's going to have to hope for some fat cats - including the whiny Hillary holdouts (not Hillary herself but her big ticket donors) - toss in some cash.
To the best of my knowledge, the June numbers aren't out yet. I think they are required to report by the 20th but I'm not certain. If Obama can somehow pull in $75M, he'll be doing just fine. But that's kind of a lot to ask for. Bottom line, though, is that in order to keep up, he's going to need to match his February record setting total of about $54M. Since that month, he's been on a steady decline - 40M, 31M, 22M...or something like that.
July 10, 2008 3:10 PM | Reply | Permalink
Time for Glenn Greenwald and all those FISA whiners to wake up and smell the Straight Talk Espresso
I feel Phil's pain
July 10, 2008 3:11 PM | Reply | Permalink
The GOP is going to gather together the figures that make them look the best. I don't have an answer but I'm curious to know if the GOP has Congressional funds for the House and for the Senate as the Dems have.
I would really like a money comparison of candidate (McCain and Obama), party, Congressional funds for House and Senate. Anyone know if there are GOP Congressional funds like the Dems have?
July 10, 2008 3:20 PM | Reply | Permalink
There are. Kos posts that kind of info pretty regularly. Through May, the NRSC and the NRCC were pretty far behind their counterparts for the Dems (DSCC, DCCC). NRSC less so.
July 10, 2008 4:02 PM | Reply | Permalink
They probably released the numbers to try to embarass Obama after the news came out that fundraising was 'a little slow' for him.
July 10, 2008 3:26 PM | Reply | Permalink
Where did that news come out?
July 10, 2008 3:28 PM | Reply | Permalink
http://www.huffingtonpost.com/2008/07/09/obama-donors-told-fundrai_n_111780.html
July 10, 2008 4:09 PM | Reply | Permalink
Huffington Post
July 10, 2008 4:15 PM | Reply | Permalink
Doh!
but then this is absent a month + of Obamas contributions.
July 10, 2008 3:26 PM | Reply | Permalink
I donating right now.... (twice in one month). I am very nervous.
July 10, 2008 3:39 PM | Reply | Permalink
I am going to raid my Tax Savings Fund for 2008, and plow it into Barack's Campaign. There will be plenty of time to tighten the belt to restock my Tax Savings between November 4th and April 15th.
GIVE DEMOCRATS! GIVE!! WE JUST WITHSTOOD 8 YEARS OF GEORGE W. BUSH!!!
July 10, 2008 4:37 PM | Reply | Permalink
K Street has nowhere else to go with their money. Obama won't take it.
July 10, 2008 3:41 PM | Reply | Permalink
C'mon people, time to open the wallet!!
July 10, 2008 3:43 PM | Reply | Permalink
Why do I get the feeling that the Obama camp lets the narrative of "fundraising trouble" to continue in order to make people nervous so they will continue to donate. I can't believe that everyone has stopped contributing and that the deficit left by those who have stopped isn't being made up by those Clinton supporters who have turned their support to Obama. It just seems like a non-intuitive narrative that might get blown out of the water ... at just the right time. When was the last time they released numbers?
July 10, 2008 3:49 PM | Reply | Permalink
Kash posed this question above. Is the RNC just going to abandon the R Senate and Congressional Committees? They are flat broke and in desperate need of cash. So it's all the eggs in the McCain basket for them??
This whole thing proves Obama's point about how terribly broken the public campaign finance system is. In theory, aren't those two pots of money supposed to be separate? What the hell is the point of even having spending caps if they don't have to pretend to abide by them??
July 10, 2008 4:07 PM | Reply | Permalink
To answer your second question, the Republicans *really* DO*NOT*WANT*TO*LOSE*THE*PRESIDENCY. They're already at where they're going to be if McCain wins. Republican president with Dem congress. Since the presidency wields such power (even if the other side controls Congress), they really don't want to lose that power. We all see the power Bush still has.
That's why it's so important that we win the presidency. With that win comes a change in narrative from Obama and all the power that the presidency brings and a real shift/jolt from this mesmerization we've been under (some of that's normal for having lived under the same president for almost 8 years). You can't really know something else until you live it.
July 10, 2008 4:20 PM | Reply | Permalink
For weeks the media was pushing the BS hypothetical that Obama could raise 300 mil in two months. I am reasonably certain that, combined with a predictable lessening of enthusiasm between the end of the primaries and the convention has suppressed donations. It also explains why Obama has endeavored to tap some additional revenue sources.
July 10, 2008 4:10 PM | Reply | Permalink
Give more to Obama, even if you think he's hiding huge numbers from June.
I think investing in the prevention of McSame FUBAR'n the whole planet is a wise choice.
July 10, 2008 4:16 PM | Reply | Permalink
Hey, as I posted yesterday, let's stop the infighting, and give money. Give up lunch or a latte. This is serious stuff. I gave yesterday, and four days ago. Not much, I am not wealthy, I just want a democrat in the White House.
PLEASE GIVE.
https://donate.barackobama.com/page/contribute/standard?source=mainnav
July 10, 2008 4:36 PM | Reply | Permalink
I am going to raid my Tax Savings Fund for 2008, and plow it into Barack's Campaign. There will be plenty of time to tighten the belt to restock my Tax Savings between November 4th and April 15th. (I am definitely not wealthy either...)
GIVE DEMOCRATS! GIVE!! WE JUST WITHSTOOD 8 YEARS OF GEORGE W. BUSH!!!
https://donate.barackobama.com/page/contribute/standard?source=mainnav
July 10, 2008 4:38 PM | Reply | Permalink
I guess Obama is counting on the Telecoms to give him plenty of cash.
July 10, 2008 4:45 PM | Reply | Permalink
Guys, I'm all for giving money to the campaign and the DNC. It is critical. But McCain is using Enron accounting.
McCain + RNC > Obama + DNC? The DNC's fundraising sucks and the RNC is kicking ass.
If McCain was beating Obama heads up, he would have said so.
It's bad that the DNC's balance sucks and it is important for us to do something about that, but think about the implications if the RNC is doing better than its candidate's campaign, which it may well be.
And yes, I'm going to pimp the blog entry I just did on this and on the ad buy delta again.
July 10, 2008 4:51 PM | Reply | Permalink
Why do people keep saying McCain is doing really well in MO because of his ads? Obama's "lead" in MO was overplayed to great extents, and was, it could be argued, an outlier. Obama's still doing pretty well in the state when it comes to polls.
http://www.pollster.com/08-MO-Pres-GE-MvO.php
If we actually look at the polls and the averages, such as the graph here on Pollster, we can see that Obama's steadily been closing in on McCain. Even though McCain is polling ahead of Obama, he's been on a steady decline.
Obama is clearly behind in the state, and has been, but not by very much, and certainly with enough momentum to overtake McCain if he starts really investing in the state.
Still, I think this talk that McCain's ads in MO are doing him a world of good are a little overstated.
July 10, 2008 5:17 PM | Reply | Permalink
This was technically meant for the thread of Obama being outspent by McCain... I'll just go post it over there, too...
July 10, 2008 5:25 PM | Reply | Permalink
Wasn't the RNC looted by its staff? Didn't they have less than 10 mil. sometime last spring?
July 10, 2008 5:22 PM | Reply | Permalink
francis: I guess Bush pulled in 7MM plus in Phoneix a month or so ago....
July 10, 2008 7:54 PM | Reply | Permalink
"Wasn't the RNC looted by its staff? Didn't they have less than 10 mil. sometime last spring?"
I believe it was the RNCC.
RNC = Republican National Committee.
RNCC = Republican National Congressional Committee.
The RNCC exists specifically to support members of the House. The RNC supports the party as a whole. The Democrats have similar entities. Both the Republican House and Senate committees are hurting for money, but the RNC is loaded.
July 10, 2008 10:49 PM | Reply | Permalink
In May I gave two credit card donations, one in mid-May and one on May 28, three days before month's end. However, the May 28 donation wasn't posted till June 2. I wondered if the posting had been deliberately deferred to help bolster the June figures. Did that happen to anyone else, or was it just a fluke? In the past, all my donations -- and there have been about 10 by now -- were immediately posted.
July 10, 2008 5:42 PM | Reply | Permalink
It's probably b/c it was sorta near a weekend. But I don't underestimate that it might have been your Credit Card company trying to rip you off in some way... :)
July 10, 2008 7:56 PM | Reply | Permalink
Ya'll encouraged me. I just donated again. We have to outspend the Repugs, because they have Bush in the White House using his power for McCain. It's the people against Bush and we must win!
July 10, 2008 9:52 PM | Reply | Permalink
Umm. Obama's contributions have decreased every month since it peaked in February (yes, I know that Obama's support *overwhelmingly* comes from donations of less than $200). Still waiting June's release.
http://www.opensecrets.org/pres08/weekly.php?type=M&cand1=N00009638&cand2=N00006424&cycle=2008
July 10, 2008 10:46 PM | Reply | Permalink
If I remember correctly Howard Dean has the DNC structured so that much of the money gets captured at the state level. Secondly the RNC is not supporting their congressional candidates and are pouring their money into McCain's campaign.
July 11, 2008 10:54 AM | Reply | Permalink
The RNC has so much money because of McCain’s "Victory Committee" created specifically to get around donation limits and skirt the campaign finance laws he used to pretend to champion.
The McCain campaign has been holding big money doner fundraisers that accept donations of up to $70k that are then divvied up at the max donation limits to the campaign, the RNC, and key state GOP parties.
This fact should really have been mentioned in Eric's post, imho.
WSJ: "New McCain Fund Gets Around Donation Limits"
"...The new structure allows up to $70,000 in individual contributions by channeling the money into different McCain-centric funds. The first $2,300 of that would go to McCain’s primary campaign. The Republican National Committee would receive $28,500 of the donation..."
July 11, 2008 12:38 PM | Reply | Permalink
Hmmm. Obama ground game vs RNC advertising blitz to try to distract voters from the fact that McCain is losing his mental faculties. My head tells me ground game, my heart reminds me of the effect of Jesse Helm's "Hands" ad:
http://www.youtube.com/watch?v=KIyewCdXMzk
It's gonna be ugly, and it's gonna be close.
July 17, 2008 10:35 AM | Reply | Permalink