McCain Spending His Way to Oblivion

Will somebody take away John McCain’s checkbook? His presidential candidacy is floundering, in part, because he is just spending too much money. The campaign expenditure reports are in and McCain is spending his money just as fast as he’s raising it. In the last quarter, he raised $12 million to Rudy’s $15 million. Sounds close, right?

Appearances are deceiving. McCain actually has only $5 million left and he owes $2 million of that in unpaid bills, while Rudy has $12 million and he’s current on all his obligations. So Giuliani has four times the amount of money that McCain has for the rest of the primary season. And Mitt Romney, who made everybody take notice when he filed that he’d raised $23 million, now appears to have spent half of that already. A big part of McCain's problem is that he has hired every consultant he can find. His team reads like a who's who of paid political operatives. The cacophony of their advice must be deafening to the ear and draining to the bank account. In any case, it isn't doing him much good in the polls or in the expenditure filings.