Now after the dust has settled - McCain DID have more cash than Ron Paul at the end of 2nd qtr FEC period
Well, one of the most unpleasant facts about the disastrous 2nd quarter for the Senator McCain campaign’s finance sector can, in fact, be put to rest. Namely, McCain did in fact manage to sock away more cash at the end of the 2nd quarter than long-shot candidate U.S. Rep. Ron Paul of Texas.
When the preliminary reports were released at the beginning of July, many media outlets reported what was entirely accurate at the time - namely, that Paul actually had more cash on hand than McCain.
Fortunately, there turned out to be some more money in the coffers than anticipated, as Capitol Hill Blue reported on Saturday, July 21. Here are excerpts from the article:
Second-quarter campaign reports filed with the Federal Election Commission show former GOP frontrunner John McCain with $3.2 million cash on hand - about $1.2 million above the $2 million that the campaign predicted would be reflected in the official report.
The final figures erase a significant talking point promoted by the campaign of long-shot candidate Ron Paul which, for the last three weeks, has argued that their candidate would have more money in the bank than McCain.
McCain, however, is not out of the financial woods. His campaign filings show $1.8 million in debt through the end of June while the Paul campaign reports zero debt. Paul has more “net worth” than McCain at this point although McCain has outraised Paul 8-1 and outspent the Texas Congressman by 10-1.
The reports do show McCain’s campaign, while crippled, is not yet dead and that Paul, along with other second tier candidates in both the Republican and Democratic parties, has a long way to go.
The Associated Press reports:
Sen. John McCain’s presidential campaign spent more than it raised from April through June, leaving him financially strapped with $3.2 million cash on hand and a $1.8 million debt, according to a report filed Sunday with the Federal Election Commission.
Hindered by unpopular stands on the war and on immigration, McCain raised $11.26 million in the second quarter, short of his first quarter donations. He spent $13 million. Overall, McCain has raised $24.6 million so far in his campaign and spent $22 million.
McCain has raised $24.6 million through the end of June 30. Paul has raised just over $3 million.
You can read the original article by clicking here. Hat tip to http://www.race42008.com/ for spotting the article.
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