Despite claiming on Sunday that he “will win” New Hampshire primary, it looks like Senator John McCain’s campaign war chest is a little light and he needs money.
Campaign officials confirmed a report that McCain may borrow money to finance television ads, mailings and other expenses in those states and in South Carolina. The Associated Press reported that the line of credit would be $3 million.
For McCain, taking a loan would be another admission that his campaign is in desperate straits. Once considered the Republican front-runner with seemingly unlimited resources, his campaign faltered over the summer after failing to raise as much money as his rivals.
Michael D. Shear cautions against counting out McCain’s campaign, citing the Democratic primary in 2004:
But taking a loan does not necessarily mean a win is completely out of reach. In 2004, Democrat John F. Kerry took a similar late-season loan, secured against his personal house, and used the money to secure his nomination.
However, Political Machine’s Dave discounts this comparison:
The important difference is that John Kerry was the fall back candidate so when the Howard Dean campaign collapsed, John Kerry was still there to fall back to. If Rudy collapses in January, John McCain is not the fall back candidate, in fact there are three fall back candidates before we even get to McCain: Romney, Huckabee, Thompson.
The McCain Campaign Death Watch continues. In recent weeks, there was continuous talk of McCain as the comeback kid, a narrative the media just loves to ride, but it is hard to surge if you don’t have any money.
4 Responses to “McCain: Can You Spare Some Change?”
Something to say?
But he will have money if he gives himself a loan. He has surged in Iowa — no pun intended — and his campaign is more focused. Don’t write him off, yet.
Left by Fence Sitter
November 12, 2007 at 9:35am