Now those are the numbers he was hoping for, and his cash on hand is impressive.
All the time spent fund-raising is beginning to pay off for Senator John McCain, whose campaign said Thursday that it raised a record $21.5 million in May and ended the month with $31.5 million in cash on hand.
While the campaignâ€™s haul still falls short of Obama-style fund-raising â€“ Senator Barack Obamaâ€™s campaign reported raising $31 million in April â€“ it is much more competitive than it has in been in the past. And it comes as the Republican National Committee has been enjoying a money advantage over the Democratic National Committee, which the McCain campaign has been trying to maintain by aggressively raising money for the national and state party committees to help his election efforts.
Still, make no mistake, the GOP is worried about Obama’s money machine…which probably kicked into overdrive once Dems saw that “acceptance” speech in Minnesota.
Jeanne Cummings details some scenarios…
â€¢ If each of Obamaâ€™s donors gave him a modest $250, heâ€™d have $375 million to spend during the two-month general election sprint. Thatâ€™s $186 million a month, $47 million a week.
â€¢ During the same September to Nov. 4 period, McCain will have about $85 million to spend since he has decided to take taxpayer money to help finance his campaign activities.
â€¢ The Republican National Committee, which is charged with closing the gap between McCain and Obama, has $40 million in cash. Obama raised almost as much â€” $31 million â€” from just his small donors in the month of February. His total for the month, $57 million, exceeded the RNCâ€™s cash balance.
â€¢ Obama has more than 1.5 million donors; McCain has a few hundred thousand. If just a million of Obamaâ€™s donors sent him the maximum donation, $2,300, he could raise $2.3 billion.
As Cummings points out, that last scenario is highly, highly unlikely to happen, but the sum total of all of this info is that McCain needs to start doing AMAZINGLY well.
Maybe that’s why he stole Obama’s tagline and logo look?
This entry was posted on Thursday, June 5th, 2008 and is filed under Barack, Democrats, McCain, Money, Republicans. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.