While the headlines thus far have focused on the monstrous money raising of the Democratic candidates and a light enthusiasm in fund raising for Republicans, something entirely different has been happening in the background. Yes both Clinton and Obama are breaking records with individual donors giving millions to their campaigns while McCain and his former Republican rivals, Ron Paul aside, had only a light take in their piggy banks. The other story though is contained in the accounts of the parties where Democrats are actually lagging far behind the Republicans.
The Conventions
According to The New York Times the DNC’s Denver Host Committee is lagging behind in its convention fund raising falling $15 Million short of its $40.6 million goal for the event. The total amount needs to be raised by June 16th, while the party is confident the money will come in, the situation can be contrasted with the RNC which is on track to raise the $58 million it has budgeted for its convention.
The article cites the prolonged Democratic primary race as one of the potential causes of this lack of money.
Equalizing the Candidates
The Republican National Committee has enough money on hand to match Obama’s bankroll. The RNC has traditionally given completely to their nominee for the general election fight and ended April with $40.6 million on hand, ten times the amount reported by the Democrats. The McCain campaign considers this money as their own, adding this figure up with their own cash on hand to say they actually ended April with an edge.
In addition, Obama is still using his resources to fight off Hillary Clinton in the prolonged nomination fight.
Things to Consider
While the Republicans may not be in the dire financial shape that many presume there are still many factors to consider. Obama and Clinton now have donor databases that can be matched in a general election campaign to find not only the nominees campaign but also the DNC. Once the fight is over many of the small donors who gave for the primary can be tapped for a general. If Clinton supporters do make the leap to Obama, he could be boasting a small army of givers.
With that said, the massive media attention given to the candidates, the predominance of FOX News, talk radio and a slow but growing Republican Internet machine could give the McCain camp the ability to attack Obama with little to no money paid. If revelations about Obama’s past continue to flow up through these mediums.
Obama can obviously use his millions to build up get-out-the-vote efforts and strike McCain in Republican strongholds, likewise the vast apathy with the Bush administration might well give the candidate the votes he needs regardless of money spent.
In short, we may have an election where dollars could either be even or may not ultimately matter. We shall see.