Specter May Suspend His Campaign
Sen. Arlen Specter (R-Pa.) said Wednesday that lackluster fund raising in recent weeks might force him to suspend his long-shot candidacy for the Republican presidential nomination.
Even though retired Gen. Colin L. Powell announced Wednesday he would not run, Specter said it would be tough to recover from six or seven weeks of lost fund-raising time. He said fund raising has been stagnant while potential donors awaited word on Powell.
“Direct mail [fund raising], which had been going so well, . . . had dried up, compelling me to consider suspending my candidacy unless and until there is better fund raising, which might come about now,” Specter said.
Specter pledged not to end his campaign with a debt and said he might have to cut his campaign staff. He also said he recognized he would need about $2 million in “fast dollars” to be viable in Iowa and New Hampshire, sites of the first real tests of the presidential campaign.
As of Sept. 30, Specter reported a debt of nearly $500,000. But his campaign expects to get $1 million in federal matching funds.