After Outspending Bush, Dole’s Short on Cash

Kansas Sen. Bob Dole has outspent Vice President George Bush in the presidential race, but Dole’s funds have dwindled as Bush has built a huge lead in the fight for the Republican nomination, campaign financial reports showed Monday.

Records filed with the Federal Election Commission show also that former religious broadcaster Pat Robertson has spent $19 million, more than rivals Bush, Dole or any Democratic candidate.

Democratic contender Michael S. Dukakis, governor of Massachusetts, continues to raise more money than his rivals, all of whom have resorted to borrowing, the FEC reports show.

Dukakis raised $2.9 million in February, including federal matching funds, compared to less than $2 million each by Rep. Richard A. Gephardt of Missouri, Sen. Paul Simon of Illinois, Sen. Albert Gore Jr. of Tennessee and the Rev. Jesse Jackson.

The records showed that during February Gephardt borrowed $149,000, Simon borrowed $292,352 and Jackson borrowed $500,000. Gore did not take out loans in February, which is the month covered by the new financial statements. But his aides have said that he borrowed $1 million before the March 8 Super Tuesday contests in 20 states and $300,000 before the Illinois primary on March 15.

Dole’s receipts for February were $2 million, giving him $8.8 million for the year, including federal matching funds based on contributions raised privately. Bush raised $1.5 million during February and $8.7 million for the year, his report shows.

Since the start of the year, Dole had spent $10.2 million compared to Bush’s $7.7 million. Yet Bush has won 788 delegates so far to Dole’s 178, according to an Associated Press delegate count.

Including last year’s expenses, Dole had spent $18 million against the $23-million overall primary spending ceiling imposed by election law, and Bush had spent $14.1 million. (An additional $4 million may be spent on fund raising, and all three GOP contenders were close to that limit as well).

Dole ended February with $836,445 in the bank and $716,107 in bills. Bush had $6.7 million in cash on hand--more than any other candidate in the race--and had $251,225 in debts.

Robertson reported spending $3.1 million in February. He has taken out more than $9 million in loans since he began his Republican presidential campaign last year, and he ended February with $8.4 million in debts and $7.4 million in cash on hand.

Among Democrats, Dukakis had $2.9 million in cash on hand at the end of the month and $569,344 in debts.

Gephardt ended February with $1 million in debts and only about half that in available cash.

Simon was $825,199 in debt and had $760,755 in cash on hand, the reports showed.

Jackson owed $845,857 and had $428,420 on hand.

Gore was better situated, with $342,964 in the bank and only $91,858 in debts. But that was before he took out $1.3 million in loans during March, campaign aides said. Figures detailing those transactions will appear in the financial reports due next month.

Dukakis had spent $11.4 million, Gore $6 million, Gephardt $5.6 million, Simon $5.3 million and Jackson $3.6 million.