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October 12, 2008 7:45:04 PM CDT



'08 Prez Campaigns Going Broke

Posted Jan 19, 08 3:54 PM CST in Politics 

(Newser) – Despite record fund-raising, top presidential hopefuls in both parties have blown almost all of their cash, the New York Times reports. Efforts to knock out opponents early have cost candidates at least $320 million, or 80% of what they have raised. With Super Tuesday fast approaching, “there is definitely some belt-tightening,” said one Barack Obama spokesman. Unless, of course, if you have Mitt Romney’s vast personal fortune.

Obama and Hillary Clinton each raised $100 million last year but have each blown all but about $20 million of it, while GOP fundraising leader Rudy Giuliani has frittered away everything but $7 million. For cash-strapped candidates, like Mike Huckabee, this is good news, analysts say. “At this point, we are all equal,” said Huckabee’s campaign chairman. “Except Romney.”

Source New York Times

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Republican presidential hopeful and former Massachusetts Gov. Mitt Romney listens to a question from a reporter Monday, Nov. 19, 2007 after landing at Seattle-Tacoma International Airport in Seattle for...   (Associated Press)
ADDS Obama, Edwards, Dodd and Biden; ADDS 2col.; Graphic shows how much campaign money some presidential candidates have raised; two sizes; 1c x 3 1/4 inches; 46.5 mm x 82.6 mm; 2c x 1 7/8 inches; 96.3...   (Associated Press)
Republican Presidential hopeful, former Arkansas Gov. Mike Huckabee takes question prior to a private fundraising reception in Los Angeles, Monday, Dec. 17, 2007. Huckabee's campaign has never had money,...   (Associated Press)
Republican presidential hopeful Sen. John McCain, R-Ariz., talks to reporters during a fundraising stop in this May 31, 2007, file photo. (AP Photo/Rogelio V. Solis)   (Associated Press)
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