Bradley Ahead of Gore in Latest Fund-Raising Figures

Bill Bradley surged past Al Gore in the latest round of presidential fund-raising, dealing a new setback Thursday to the vice president’s struggling campaign and emphatically underscoring that the Democratic contest is now a real race.

Although the financial disparity was slight--with $6.7 million, Bradley raised only about $200,000 more than Gore from July to September--the impact is significant.

For all the advantages Gore accrued over nearly seven years as the nation’s second-highest elected official, he suddenly finds himself with less cash on hand than an opponent he did not publicly acknowledge before Wednesday. Politically, the performance of the former New Jersey senator demonstrated the viability of his once-longshot campaign.

“We’ve gone from wondering whether Bill Bradley is the kind of candidate who could become a strong contender into recognizing that he is a strong candidate with the staying power to be competitive for quite some time,” said Bill Carrick, a neutral Democratic strategist.

But greater credibility brings with it greater expectations. For Bradley, “being ‘good’ is no longer good enough,” said political analyst Charles Cook. “It’s no longer a matter of beating the point spread. It’s a matter of winning.”

Gore raised roughly $6.5 million over the summer, bringing his total receipts for the year to about $24.1 million. Bradley’s $6.7 million raised his total to $18.4 million so far this year.

But thanks to Bradley’s more economical operation, he has slightly more cash on hand, about $10 million, than Gore.

On the Republican side, Texas Gov. George W. Bush continued to shatter fund-raising records, soaring past the $56-million mark and leaving the rest of the GOP field far, far behind. The $19 million he collected over the summer was more than Gore and Bradley combined; his $37 million in the bank was more than all nine other presidential candidates had between them.

Arizona Sen. John McCain reported raising roughly $9.3 million so far this year, including $2 million he transferred from his Senate campaign account. Elizabeth Hanford Dole, who has run second to Bush in most national polls, continued to struggle translating such support into fund-raising success. She was fourth in the money race, with roughly $5 million for the year, behind social activist Gary Bauer, with $5.4 million. Millionaire publisher Steve Forbes, who is largely financing his race out of pocket, has raised a total of $4.2 million.

Commentator Patrick J. Buchanan, who is contemplating an exit from the GOP to seek the Reform Party nomination, said he raised about $4 million for the year. Sen. Orrin G. Hatch of Utah reported $1.2 million and radio talk-show host Alan Keyes $520,000.

The release of fund-raising figures, covering the year’s third quarter, came a day after Gore challenged Bradley to a series of debates and announced he will move his headquarters from Washington to Nashville. He told a closed-door meeting of top Democratic Party donors he plans to run a “leaner and meaner” operation.

In fact, while the relocation was publicly described as an effort to bring Gore’s candidacy closer to the “grass-roots,” the campaign is anticipating a badly needed reduction in overhead. The figures released Thursday showed the need: Of the roughly $6.5 million Gore raised in the third quarter, nearly all of it was spent on an operation even some insiders say is badly bloated.

The Gore camp professed not to be worried about the latest figures. “We will have every dime and every dollar we need to support Al Gore’s campaign,” said spokeswoman Kiki Moore.

Bradley’s slight fund-raising advantage is not unprecedented. At certain times in 1988, the Rev. Pat Robertson was ahead of then-Vice President George Bush in contributions. However, Robertson’s campaign peaked early and Bush went on to easily capture the GOP nomination and, ultimately, the White House.

The Bradley campaign, meantime, found itself in the odd position of insisting the challenger--and not the vice president, as Gore now attests--is the underdog in the race. “We’re running against the institutional front-runner who has the president of the United States raising money for him and has the bulk of support from the major institutions of the Democratic Party,” said Anita Dunn, a senior Bradley strategist.

Campaigning in the Bay Area, Bradley himself insisted he still feels “like the underdog” and downplayed the latest good news. “I don’t think we have momentum,” he told reporters in Oakland. “I think we have a little traction.”

Indeed, despite Thursday’s developments, Gore’s financial situation is hardly dire. By targeting small donors, the campaign expects $13 million in federal matching funds after Jan. 1. (The government matches up to $250 per contribution. Thus, four $250 contributions are worth $1,000 in matching funds; a $1,000 contribution yields only $250.)

Dunn said that after relying heavily on large contributions, Bradley too began targeting small donors over the summer and she expected his average contribution “to be much lower.” It was unclear, however, how much in matching funds Bradley could expect.

Still, his $10-million bank stash should keep Bradley competitive well into the primary season, which represents a crucial advantage over previous upstart candidates.

Dick Bennett, a nonpartisan New Hampshire pollster, cited Gary Hart’s fate after his 1984 upset of former Vice President Walter F. Mondale in the New Hampshire primary.

“He won, but then found out there was nowhere to go afterward because he had no money,” Bennett recalled. “In Bradley’s case, he won’t have to go blowing into a state, hoping there’s enough time to cash the checks fast enough to get an organization on the ground and commercials on the air. It’s going to all be there for him going in, and that’s a huge challenge for Gore to face.”

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Times staff writer Faye Fiore contributed to this story.

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Bradley Catching Up

Quarterly fund-raising by Democratic presidential candidates Al Gore and Bill Bradley, in millions:

Gore

Jan-March: $8.9

April-June: $8.7

July-September: $6.5

Total: $24.1

Bradley

Jan-March: $4.3

April-June: $7.4

July-September: $6.7

Total: $18.4

Source: Campaign Study Group