McCain Finances in Desperate Straits?

Sinking Ship

More evidence that John McCain’s campaign is in desperate straits.

Robert Novak writes that the McCain campaign continues to struggle raising money:

George W. Bush’s 2004 campaign fund-raisers and contributors are being bombarded with appeals for money by Sen. John McCain’s heavy-spending, money-short 2008 campaign.

McCain is concentrating heavily on the rich target of lawyers and lobbyists in Washington, D.C. They have been invited to multiple McCain fund-raising events held in the nation’s capital, currently a $1,000-a-ticket reception June 26 at the Capitol Hill Club with a potential “event co-chair” asked to raise $50,000. A large percentage of the Bush fund-raising team remains uncommitted, a signal that the Republican establishment is not satisfied with the present field seeking the party’s nomination.

McCain’s money-raisers are hard put to reach the $10 million goal set for the second quarter of 2008 by the June 30 deadline, after collecting $12 million in the first quarter. McCain raised $2 million in April and $3 million in May, and is expected to reach $2-3 million in June — falling short of the $10 million goal and of what his opponents have raised.

What’s ironic about the McCain dilemna is that the committee’s fundraising strategy has shifted from raising money from the $15-25 grassroots donor to the K-Street crowd, the very folks he demeaned in his landmark McCain-Feingold law (Bipartisan Campaign Reform Act).

Could it be possible that Arizona’s senior senator has fallen further out of favor with the grassroots, especially on the heels of the recent Amnesty fiasco? This new trouble now has the committee in desperate straits begging the Washington establishment – the last source of money – to help finance a committee which is taking on water faster than its hands can bail.

If this continues, this blogger’s prediction is that the McCain camp will send all hands to lifeboats as it plunges into the icy waters with its captain defiantly at the helm.


Comments

  1. Not a surprise that the “Straight Talk Express” is headed straight to the briny deep.

    McCain has perfected the art of alienating Republicans, yet he thinks he can win with Independents and Democrats–and Republicans be damned! Independents are not dependable donors and the Dems have their own lefties.

    His lack of ability to generate money will cause him to drop out earlier than any would have predicted at the onset of his presidential campaign. We bid him a fond farewell.

    BTW, this is a splendid accompanying photo!

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