Is John McCain Broke?

by: Matt Stoller

Wed Feb 20, 2008 at 14:01

McCain Jan 31

This is McCain's most recent FEC report, listing his cash on hand as of 1/31/08.  He has roughly 5.2M in cash, and 5.5M of debt.

I'm sure he's brought in something since he secured the nomination, but he really is starting from scratch.  And unless I missed it, I haven't seen any stories on the massive influx of online or establishment money to McCain.  It'll happen eventually I'm sure, but it's worth noting that the campaign hasn't been bragging about it as of yet.

Matt Stoller :: Is John McCain Broke?

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Hey Barack (0.00 / 0)
what do you say we agree to no campaigning at all from here on out? just let the chips fall where they may right now? Agree or you are a commie corporate fascist!

kind regards,
Johnny Mac

Michael Bloomberg, prince of corporate welfare

Problem is (4.00 / 1)
Groups like the oh-so-Orwellian 'freedom watch' most certainly are not broke.  Not at all.  And they will be spending all their money on attack ads.

My stomach clenches at that thought of FW's 500 mil (0.00 / 0)

We won the Battle. Now the Real Fight for Change Begins. Join and fight for progressive change.  

[ Parent ]
Yes. (0.00 / 0)
Expect negative issue ads agains the dem nominee--the right isn't really pulling for McCain, but they sure as hell want to at least weaken a democratic presidency

[ Parent ]
I'd assume he's brought in $500k/day min (4.00 / 1)
and with the oil companies reporting record Billion dollar profits, rest assured that these profits will find their way into an "anti-democrat" 527.  But we won't know more till March 20th.  McCain's call for Obama to accept public financing is a clue.

For me, I think Obama should accept public financing because the system needs reform and for him to 'thwart' it would make this legislatively difficult.  In fact, I think it would just encourage more people on both sides to simply ignore the system altogether so how will the Democrats be able to put together enough votes to reform or change campaign finance laws?

What I think Obama should do is continue to raise as much as possible through the convention and spend that money on organizing throughout all 50 states.  Opening coordinated offices that poorly funded senatorial, congressional and state level candidates could use for their campaigns.  I mean there is alot that the campaign can spend money on until the convention.  All legal and all without the restrictions of the finance laws.  

I know that many feel that the limits of the public financing system will constrain Obama's "big media" spending in all 50 states.  But I don't think that much more "big media" spending will be needed once a solid ground operation has been set up in all 50 states by July.   But I'm just an idiot with a cable modem, Axelrod has been running circles around the vaunted Clinton machine so we have to give credit where credit is do.(although he was helped by the utterly inept Mark Penn)

I read somewhere .. (0.00 / 0)
that McCain has raised about $15 million since the beginning of the year ... obviously some Republican establishment types have finally decided to give him money ... also as others have already mentioned .. Freedom's Watch and other groups will be spending heavily ... I find it interesting that guys like Sheldon Adelson(he of some of the Las Vegas casinos) would want to waste $50 million .. if not more of their money ... he better hope for some good return on that investment .. I haven't even heard what CfG has up their sleeve(besides hoping McCain picks their boy Pawlenty to be Veep on the Rethug ticket)

[ Parent ]
some smart people blew $62million on Guiliani (4.00 / 1)
I'm sure ALL of them would like that money back.  and even more people lent or gave Guiliani credit or money on the belief that he would win, and they are still waiting to get paid back.

[ Parent ]
He doesn't need money (0.00 / 0)
Why would any Republican nominee need money?  The mainstream media is going to give him all the advertising he needs, and he won't even have to pay for Swiftboat liars, because the press will take care of that for him, too.  You watch and see if it doesn't happen.  Call me out on it if I get that wrong.  Besides, President 19% will probably be able to get him lots of Saudi money, if he really needs cash.

What Lies? (0.00 / 0)
Please fill us in on what lies the Swift Vets told?  From what I can tell, not one single accusation was proven to be false.  

[ Parent ]
The Swifties (0.00 / 0)
Me, I think that John McCain's line on the Swifties was right: to the extent that they went after Kerry's anti-war activism, that was fine, but to the extent that they questioned his medals, it was getting onto thin ice.

Note that his cell-mate Bud Day was in at least one of the later ads about Kerry's activism.

[ Parent ]
He was, for sure. (0.00 / 0)
He had to leave the campaign trail in Florida to raise money -- we know that.

Until after the Florida win, McCain most certainly was scraping the bottom of the barrel.


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