McCain Campaign Down to Its Last $24 Million

Or maybe even half that.

McCain, who has accepted public financing for his campaign, is restricted in his spending. As of Oct. 15 he had more than $25 million in hand, but more than $1 million debts. The RNC, which has been helping his candidacy, had more than $59 million in the bank.

At McCain's spending rate of $1.5 million a day, the Arizona senator likely has only $12 million to spend in the next 11 days before the Nov. 4 election.

Republicans might point to the Republican National Committee's still relatively flush coffers as a way to argue that they will be able to effectively wage a campaign against the Obama campaign. But as I have noted before, and Marc Ambinder explains, RNC independent expenditure dollars just aren't worth as much, in a sense, as dollars spent by the actual campaigns.

But comparing IE spending and campaign spending is like comparing fermions and bosons. IE committee don't get the preferred rate; campaigns do. So the Obama campaign, by consolidating spending, gets more bang for its buck.

We do not yet have the fundraising and cash-on-hand numbers as of October 15 from the Obama campaign and the Democratic National Committee -- they are required to be in to the FEC by midnight -- but unless the spigot of grassroots support for the campaign got unexpectedly shut off at the beginning of the month, it's likely that the Democrats will have significantly more money than their Republican opponents to make this final sprint to election day. In short, this ain't a bad place for Obama to be 12 days out from November 4.

Tags: Fundraising, John McCain, White House 2008 (all tags)

Comments

10 Comments

Re: McCain Campaign Down to Its Last $24 Million

Well let's be fair, with the polls looking like they are, McCain can afford to coast for a bit.

This is great news, FOR JOHN MCCAIN!

by Jess81 2008-10-23 06:04PM | 0 recs
Re: McCain Campaign Down to Its Last $24 Million

Oh, I forgot - why can't Obama close the deal in Utah?

by Jess81 2008-10-23 06:15PM | 0 recs
Re: McCain Campaign Down to Its Last $24 Million

or Oklahoma?!?

by fogiv 2008-10-23 07:04PM | 0 recs
Re: McCain Campaign Down to Its Last $24 Million

Maybe it would be more precise to say he might as well go ahead and coast for a bit. At this point, what's the difference?

by itsthemedia 2008-10-23 08:08PM | 0 recs
There's another deadline at midnight tonight.

Donate so that we have more resources not just to beat them, but to utterly annihilate them.  The greater Obama's victory and enthusiasm, the more likely we are to get to 60 Senators and get our agenda put into action...

by mistersite 2008-10-23 06:12PM | 0 recs
The map of America

It is probably rude and definitely a cliche, but it still amazes me, looking at that map of the country, and comparing it to the map of America in 1861, and wondering how it can be that the residents of the former Confederate States of America are so impervious to reason.

Does the average "Joe the Plumber" in those states really believe that the Republican Party has his interests in mind when it makes policy decisions?

by James Earl 2008-10-23 06:19PM | 0 recs
Re: The map of America

Virginia, North Carolina and Florida were members of the Confederacy. Missouri, Maryland and Delaware were slave states. Of the 15 slave states in 1861, 6 are solid or leaning Obama. And one, Georgia, is teetering on the edge of toss-up. Only KY, TN, AL, MS, LA, AR, SC and TX are surefire McCain states.

Now look at the Prairie and Mountain West.

Two are solid or leaning heavy to Obama (NM and CO), and two are teetering (ND and MT). Then there's KS, NE, SD, WY, UT, ID, OK (not a state in 1861) and AZ solid for McCain. A greater proportion of prairie and mountain states are solid for McCain than are ex-slave states.

by elrod 2008-10-23 07:23PM | 0 recs
Re: The map of America

Or West Virginia, which went in the opposite direction.

by rfahey22 2008-10-23 07:29PM | 0 recs
Re: The map of America

We are trying hard in Georgia to change things around.  Things here are not quite as bad as Alabama or Mississippi.

The issue is that many people here still vote social issues over economic issues.  As long as James Dobson and Pat Robertson tell them to vote GOP, they are going to vote GOP.

by gavoter 2008-10-23 07:27PM | 0 recs
A bit off topic, but

I would just like to point out that comparing fermions and bosons is a lot like comparing quaffles and bludgers. Your readers need to have special knowledge to have any idea what you are saying. Can't Ambinder come up with a simile that doesn't send his readers running to Wikipedia? Or was he writing the politics column for Particle Physics Weekly?

by itsthemedia 2008-10-23 08:16PM | 0 recs

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