The McCain campaign brags about its fundraising:
John McCain raised between $4M and $5M this week at eight fundraisers across the country, reports NBC/NJ's Adam Aigner-Treworgy.His most lucrative event was held at NYC's Plaza Hotel, where the GOP nom collected $2M, according to a campaign source. McCain wrapped the five-day sweep with a Chicago fete that netted him $1M.
The AZ Sen lingered a little longer than usual in the Windy City, perhaps knowing that he was done looking for handouts for at least a week. He heads overseas in coming days as the leader of a congressional delegation of members of the Senate Armed Services cmte.
Four or five million dollars is nothing to cough at -- except when you begin thinking about what that number actually represents. This is the time when money should be pouring into the McCain campaign. Not only has McCain secured the nomination, presumably opening up the floodgates of money from both the GOP base and establishment, he also is free to devote time to fundraise rather than campaign. Indeed, these fundraising events are a testament to that.
But $4 or $5 million in a week works out to only $15 to $20 over the course of a month -- nowhere near the type of money being brought in these days by either the Clinton campaign or the Obama campaign. This is problematic for McCain not only due to the fact that he is unable to keep up with his Democratic rivals, but also because he is unable to match their grassroots support with his traditional big dollar fundraisers.
Clinton and Obama can always go to the well to hold these types of events to meet or exceed McCain's haul. But on top of that, they can also raise real money in new ways as well. While it takes relatively little internal effort or expense by the Obama and Clinton campaigns to tap their supporters for campaign cash -- a typical Obama email, for instance, can bring in $3 million, and one from the Clinton campaign can bring in $2 million -- the McCain campaign had to dedicate significant effort, as well as the candidate's limited time, to try to bring in $4 to $5 million over the course of an entire week. And while the vast majority of those contributing online to Clinton and Obama can give again and again, McCain cannot go back to these big dollar donors again in the future because most have maxed out, or given the most they are allowed by law.
So while the McCain campaign might point to these numbers as a success, it's fairly clear to see that these numbers indicate at least as much of a problem as they do an achievement.
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