WaPo - McCain Has $200 Million On Hand; Can Raise $70,000 Per A Donor

[Median Democrat]

The Obama campaign, of course, has $94 million on hand. Of course, Obama can continue to raise money, but unlike McCain, Obama cannot simply count on the corporate types to routinely cough up $70,000 each. One heeled McCain donor can equal nearly 140 individual $500 Obama donors. The only way Obama is competitive is through the sheer number of his donors.

http://www.washingtonpost.com/wp-dyn/content/article/2008/09/16/AR2008091603321.html

/snip

While McCain had to stop raising money for his campaign committee after he accepted the GOP nomination in St. Paul, Minn., earlier this month, he has hardly been idle. On Monday night, he helped bring in more than $5 million at a Miami hotel, and his campaign has found ways to both raise money and spend it through coordinated efforts with the RNC. According to Republican sources, money is pouring in to a joint fundraising committee that can legally accept up to $70,000 from a single donor. Contributions made through McCain's Web site have quadrupled in recent days, according to party officials. The site routes potential donors to a separate page that collects money for the joint committee, distributing money to the RNC, state Republican party accounts, and a compliance fund that pays the McCain campaign's legal bills. The message on the site says, "The best way to help our campaign is to give to McCain-Palin Victory 2008."

/snip

[dkf]

1. How can they get it up to $70,000?

I thought ours was like $28,000 or something?

[quiet.american]

2. Wow. That's a lot of money down the drain. nt

[TheCoxwain]

15. You Nailed it.

I dont care if RNC raises 100 Billion .. they are still gonna lose

[BayouCajun]

3. Tough situation

Can Obama keep up with McCain in time or will McCain flood the airwaves to sway the voters

[writes3000]

4. So according to that article the DNC has no money to help?

They're counting McCain's money and the RNC money as one lump sum.

For Obama, they're only counting his money. The DNC has none?

[Hippo_Tron]

7. The DNC fundraising is miniscule compared to Obama's or the RNC's

RNC fundraising is huge because the contribution limit is much higher and more rich people vote Republican

Remember that you can give up to $25,000 (I think it is) to the DNC or the RNC. A fairly small segment of the population can afford to give the max contribution ($2,300) and an even smaller amount of people (mostly Republicans) can afford to give $25,000.

For example, my parents fall under that working professional demographic and are fairly well off. They gave $2,000 to Kerry in 2004 and $2,000 to a Senate candidate this time around. In theory yes they do have $25,000 to give to the DNC but they aren't going to spend money that recklessly. You really need to find people who are trying to buy influence or are multi-millionaires if you want $25,000 contributions.

[madfloridian]

8. DNC has 17 million banked right now.

Remember they were hurt by the big donors who withheld and got refunds because of Florida and the primary.

Obama's statement not to take money from lobbyists has major money going to the RNC.

However not all of that RNC money can be used for McCain.

That gives Obama and Dean about 94 million this month.

[Hippo_Tron]

5. McCain doesn't have that money the RNC does

And only a limited amount of it can be spent in coordination with the McCain campaign. The rest of it has to be spent by an arm of the RNC that is isolated from contact with the campaign (supposedly, anyway).

[AndyTiedye]

12. Anti-Coordination Rules Do Not Apply to Republicans

Who's going to enforce them?

[Median Democrat]

20. Bingo! Also, Just Use Money To Suppress Votes...

So that the RNC money can't be traced to John McCain. After all, the last you want to say is, "This Voter Suppression Effort Is Brought To You By John McCain."

[Warren Stupidity]

13. They will ignore the spirit of the regulations and abuse the loopholes.

In fact, McCain has already demonstrated that if need be he will ignore the actual regulations and commit outright violations. Nobody is going to stop him, and any complaints will be post-election. Campaign financing has no teeth. The FEC cannot even assemble a quorum to hold a meeting.

Donate. Donate again. What were thinking? Donate some more.

[1corona4u]

6. I call bullshit....

So he went from 32 mil to 200 mil in combined funds? BULLSHIT. They want people to think he's still getting cash. I'll wait for the actual report to come out before I buy that.

Cash on Hand: $32,768,214
Debts: $2,003,356
Date of last report: Jul 31 2008 12:00AM

[madfloridian]

9. Yes, something is wrong with that report.

.

[Hippo_Tron]

10. The key is how much of it can be spent and on what

Yes they can funnel the money down to the state level which is helpful for GOTV and such but if you truly want to target your ads then you want the money under the control of the campaign.

[GoesTo11]

19. They can spend it on suppressing the vote

Phony mailers etc.

[Unsane]

11. Will we see an all caps DRUDGE headline suggesting McCain is elitist?

[Vinca]

14. Keep in mind the $70,000 donor has only 1 vote.

I'd rather have 70,000 $1.00 donors.

[Orsino]

17. Unless he's the voter who actually owns the voting machines, of course. n/t

[Vinca]

18. Good point and totally within the realm of possibility. nt

[bunnies]

16. This is exactly why "public financing" is bullshit.

And all the outrage over Obama not taking it was such a joke.