Money, money, money... oh, Mitt.
"The most reliable friend you can have in American politics [is] ready money." So spoke Republican presidential hopeful Phil Gramm in 1995, and he wasn't kidding. Greenbacks have long been the barometer of the health of a campaign, and recent revelations — that Mitt Romney is "suspending" his campaign, and Hillary Clinton just gave her own bid a $5-million shot in the arm — only serve to emphasize that. Here's a quick round-up on former and current hopefuls, and how the money talked:
THE DEMOCRATS
Barack Obama: Obama is breaking all kinds of records — his campaign just announced that it collected $7.2 million in just the two days following Super Tuesday. That’s partly because while the Obama campaign brings in the big donors to rival Clinton’s, he also taps a vast reservoir of people who give in smaller amounts. It’s an interesting indication of the demographics the candidates attract, and a clue as to where the popular momentum is headed.
Hillary Clinton: The erstwhile frontrunner racked up some major wins on Tsunami Tuesday, California included — but not enough to secure a decisive victory. Having to dig into her own pockets makes her campaign look less promising. On the other hand, the Clinton campaign just released numbers that put its post-Tuesday fundraising at $7.5 million.
John Edwards: Poor Edwards. He took the high road, committed to public financing and ran on a fraction of what his main rivals had in the bank. But in the end, the public let this populist presidential hopeful down.
THE REPUBLICANS
Mitt Romney: If using your own cash to beef up your campaign is a bad sign, Romney doomed his presidential bid from the start. The former governor of Massachussetts has poured around $50 million of his personal fortune into his now “suspended” campaign. If I were one of his grandkids, I’d be pretty pissed.
John McCain: McCain got lucky. For months, his campaign had been deemed dead in the water, and money was partly to blame. But when Huckabee’s triumph in Iowa broke the the race wide open, his strategy of focusing what he had on New Hampshire paid off. Mitt Romney’s campaign never really recovered from those twin blows. McCain's financial picture, on the other hand, has brightened considerably since he began the year with $2.9 million on hand and $4.5 million in debt. McCain raised more than $7 million in the first three weeks in January.
Mike Huckabee: The former governor from Arkansas seems to have broken all the rules, rocketing from the rear of the Republican guard to win the Iowa primaries on a shoestring budget and a brigade of zealous volunteers. The quick-witted, guitar-playing former Baptist minister managed that feat by dining out on overgenerous media coverage — but now, after only a handful of primary wins, the campaign is showing the strain. After running neck-and-neck with McCain for fourth-quarter fundraising, Huckabee has not experienced much fundraising bounce.
Rudy Giuliani: As proof that money can’t buy everything, Giuliani ended up spending upwards of $50 million — and earned just one delegate. Another warning sign: Weeks before his withdrawal from the race, the media learned that Giuliani campaign staffers had to forgo their paychecks for a month.
Ron Paul: Paul, according to Andrew Malcolm at Top of the Ticket, “drew more donated dollars last quarter than any other Republican,” a total of $19.95 million for the fourth quarter, with another $4.1 million in January. He also outpolled the once-ballyhooed Giuliani in most primaries, raising questions about just who gets to define the term "fringe candidate." And yet, he hasn’t got a snowball’s chance in hell. Make of that what you will.
a chance is a chance
Posted by: prija | February 08, 2008 at 03:33 PM
Snowball chance? I still think it comes down to Vote Fraud. In Orange County my name was listed twice!!! One as a Democrat and One as a Republican.. funny how the person at the booth said that I couldn't vote Rep. B/c i was listed as a Demo. Then upon looking at the list.. I was on there twice.. SNEAKY.. SNEAKY GOP party.. the truth will surface.
Ron Paul 2008!
Posted by: prija | February 08, 2008 at 03:31 PM
Snowball?
Hey It's winter, the snow is plentiful in much of the country.
Go, Ron!
Posted by: TEFLON RON | February 08, 2008 at 08:32 AM
It's so interesting to see the McCain and Huckabee camps pandering for all the Romney votes now. What a joke. After the way Romney was treated by McCain and Huckabee, I have a feeling that we Mitt-supporters will sit this one out and vote for Mitt again in a couple of years while McCain sits in a rest home and Huckabee makes a living playing his bass in a nightclub in Hope, AK.
Posted by: WendiR8 | February 07, 2008 at 11:08 PM
Who gets to define the "fringe candidate"? The mainstream media has proven they control the choices. Just look how desperate they were to hide Ron Paul from view of the general populace.
Posted by: Johnny B. | February 07, 2008 at 10:37 PM
Ride the snowball !!!!!! weeee, all the way to the convention!!! Freedom RON PAUL!
Posted by: Snowball | February 07, 2008 at 10:30 PM
I was a bit taken aback by the results of Super Tuesday and Ron Paul's delegate count. After a few days to digest this information I am committed to continue to support, in spirit and from my modest wallet, the only candidate I feel that has the integrity and fortitude to steer the United States back into the "greatness" that it once was. The Republican party is as adrift as the Democrats were last election and I hope that its classical liberal roots find firm footing. Ron Paul is the anchor to stabilize our country financially and in the eyes of the world. I just wish others say the same light from his message (supported by 20 years of congressional vote) as I see.
If you havent already, give this guy a look. I haven't looked back since.
- a former democrat
Posted by: Erik Smith | February 07, 2008 at 06:35 PM
Between the liberal Democrats and the conservative Republicans (and former wacky Libertarian Ron Paul) it's America that hasn't any "snowball's chance in hell".
Posted by: Oki | February 07, 2008 at 06:15 PM
No supporter of Ron Paul that I have spoken to has intended to give up campaigning. Many people in Ohio have become aware of who he is and that he is still running for the GOP nomination. This gives an option to those that still would like to have more than one candidate to choose from. To bad the media is not interested in this side of the story because it truly is inspiring.
Posted by: mistermr | February 07, 2008 at 06:09 PM
Amnesty McCain has no chance.
Posted by: KGB | February 07, 2008 at 05:32 PM
Well Ron Paul's snowball's chance in hell is becoming an avalanch and I for one am going to sit back and enjoy the ride.
Fo Ron Paul!!
Posted by: liberalnurse | February 07, 2008 at 05:04 PM