Tuesday, October 16, 2007

McCain Campaign Deeply In Debt?

On the heels of yesterdays report that the McCain campaign picking up steam comes news that it's also dangerously in debt.

"John McCain has just $1.67 million in primary money on hand and is carrying $1.73 million in reported debt. Such a grim reality means that he is effectively left with two options -- take public matching funds or get out of the race.

While McCain aides sought to downplay his fiscal straits at the end of last month, the report filed last night paints an ugly picture. He didn't raise $6 million for the quarter, as his staff claimed. He actually brought in $5.73 million overall -- and of that only $4,977,000 was in primary dollars, per the Post By contrast, Ron Paul raised $5.2 for the primary in the third quarter."

Unless the McCain campaign can tap the pocketbooks of those dissatisfied with Giuliani's socially liberal views he'll have to take public matching funds to stay afloat. That doesn't bode well for McCain. I'm sorely tempted to file him under "done for".