McCain raised "at least $47 Million"
by Jerome Armstrong, Mon Sep 01, 2008 at 03:51:31 PM EDT
Whoa, Money: The McCain campaign is saying they raised $10 million since McCain announced Palin as the running mate on Friday, and a total of at least $47 million for August. That "represents money raised by the campaign and McCain's share of a joint victory fund set up with the Republican Party."
Think we might see a flip-flop on his accepting public campaign financing? He's been down that road before, so already has a precedent in place. But no, that doesn't appear to be their tactic here, instead:
This is a hell of a slight for the McCain campaign. In essence, they are taking $85M in gov't monies to run the official campaign, while the 'real' operation is run out of the RNC and the states. Here's the loophole:
After receiving the federal funds, McCain will be prohibited from raising any more money for his campaign. Any cash that is left in his account when he becomes the nominee can be shifted to the Republican National Committee or state party committees that have federal accounts set aside to help his campaign.
This really ups the bar for Obama. Now, in order to just stay even with the pace that McCain is on, they will need to raise $100M each month:
Now, there is a big advantage that Obama holds over McCain, in not taking public financing. All of Obama's funds can be coordinated with the campaign. For McCain, there's only a limited amount of the RNC (like $30M iirc) that can be coordinated RNC spending with the McCain campaign-- all the rest has to be legally uncoordinated. But, what about the money in the states? I know of the McCain-Fiengold loophole that's in place for states that allows them to raise unlimited funds, but is there anything in McCain-Fiengold that limits coordination between state party money and the McCain campaign?