Opinion: John McCain’s money troubles continue through February
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The Republican Party’s virtually certain presidential nominee, Sen. John McCain, whose campaign stalled and nearly folded last summer with more outgo than income, experienced more serious financial trouble last month.
According to monthly campaign finance reports filed with the Federal Election Commission and reviewed by The Times’ main money man, Dan Morain, McCain took in $11 million in February, which seems like a lot if you’re not in presidential politics.
The trouble for Republicans is that the leading Democrat, Sen. Barack Obama, raised fully $55 million and Sen. Hillary Clinton took in $34.6 million. As Morain reports, in the 14 months since the 22-month presidential marathon began, Obama has raised $192.7 million, Clinton $173.8 and McCain a comparatively measly ....
$60.2 million. Even former Gov. Mitt Romney raised and spent nearly twice that amount in his losing Republican primary effort.
Virtually every campaign observer agrees that the Arizona senator, who alluded to his lackluster and unenthusiastic fundraising efforts last spring, is going to have to at least double his $11 million monthly take to hopefully stay competitive.
A McCain aide told Morain that the campaign had received more donations so far in March than in any three-month period since the beginning.
McCain will visit California early this coming week both to campaign and raise funds. Californians gave $966,000 to McCain last month. McCain’s largest source of money in February was Texas, which donated $1.7 million.
McCain received $2,300 from film and television producer Jerry Bruckheimer, and $4,600 from John Fogelman of the William Morris Agency.
McCain also received the legal maximum $2,300 checks from Stewart and Lynda Resnick, who have long been Democratic donors, and from Robert A. Day, head of Trust Company of the West, and his wife, Kelly. The Days had each given to Clinton last year. Mr. Day also had given to Romney.
The other remaining candidate in the GOP race, Rep. Ron Paul of Texas, previously reported raising $34.65 million in his year-long effort and still having $5.57 million cash in hand with zero outstanding debts.
Through the same 14-month period four years ago, President Bush raised $158 million and Sen. John Kerry $41.4 million for their presidential runs.
-- Andrew Malcolm