McCain spending more than he's raising for the election

[Ichingcarpenter]

WASHINGTON — Faced with a spending cap for his fall campaign, Republican presidential candidate John McCain is aggressively spending more money than he is raising during summer months and methodically reducing his cash reserves.

McCain raised more than $21 million in June and spent nearly $26 million, the campaign reported Friday night. McCain eroded his cash on hand, ending the month with $27 million in the bank. He began the month with $31.6 million in hand.

According to filings with the Federal Election Commission, McCain spent more than $16 million on advertising during the month, about three-quarters of his total raised in June. That was five times more than he spent in May, when the Democratic presidential primary was still being contested by Barack Obama and Hillary Rodham Clinton. Obama clinched the Democratic nomination on June 3.

McCain plans to accept public financing for the general election — an $84 million infusion that prevents him from raising private money for his fall campaign. That means he has to spend all the money he raises between now and the Republican national convention in early September.

http://rawstory.com//news/2008/McCain_paying_down_primary_funds_in_0719.html

[LiberalFighter]

1. Do businesses have to accept his business if they know he is broke?

[Ichingcarpenter]

3. Depends on the Businesses....

[kentuck]

2. That means he is going to get a VP with $$$$...

M$TT Romn$Y ??

[izquierdista]

4. Well, Duh!

Could he be a true Republican if he could stick to a budget?

[Mz Pip]

5. The RNC

has over 200 million so McCain probably isn't keeping too close an eye on his spending.

The DNC has less than 100 million, which is why the fundraising issue is so important for Obama. Besides, the DNC probably want to put some of that money into Senate and House seats they feel they can pick of.