It seems like quarter after quarter I am posting a similar headline, Republicans have not been able to keep pace to the Democratic candidates in terms of fund raising which is actually quite a historic milestone. For years, Republican candidates have always had the deeper pockets but this time it is very different.
Here’s a story from The Politico on the issue:
Democrats Hillary Rodham Clinton and Barack Obama outraised the four Republican presidential candidates â€” John McCain, Mitt Romney, Mike Huckabee and Ron Paul â€” $49.6 million to $42.2 million in the last three months of 2007, according to finance reports made public Thursday night.
The mandatory reports, filed with the Federal Election Commission, reveal intriguing details about how the candidates are raising and spending the staggering sums pouring into the presidential race. And they offer a measuring stick to gauge the evolution of the race, since the field has shifted dramatically since the first of the year.
Overall, though, the reports suggest a disturbing trend for Republicans. Even as attention on the presidential race intensified, the party’s donor base remained fractured and less inclined to give than the Democratic base.
The 2 Democratic candidates raised $49.6 million to the Republican’s $42.2 million. While it seems only about $7 million apart, that $42 million is split four ways.
I’ve discussed this in the past and I think it has to do with 8 years of a Republican presidency for one. Democrats are eager to fund campaigns and feel like they’ll be able to win in 2008. Furthermore, Republicans haven’t settled on a candidate so they’re all splitting the donations and basically starving each other of cash.
We can now compare the entire fiscal year 2007:
Taking into account the full year, Clinton and Obama outraised the four remaining Republicans $209 million to $128 million in 2007.
That’s huge, nearly an $80 million dollar difference between the two sides. That’s all including Ron Paul’s astounding fund raising as well.
If this trend continues, Republicans will be in trouble, especially if McCain is the nominee since his campaign is still running on loans and is said to be about $5 million in debt. He’s raising money but it’s mainly paying off the campaign’s old expenses.