Election 2008

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Republican Party Running Low on Cash

August 28, 2008 06:53 AM
by Lindsey Chapman
Because fundraising efforts haven’t gone as well as party leaders hoped, the Republican National Committee is cutting funding to some candidates’ campaigns.

Campaign Fundraising Sags

Fundraising efforts for the Republican Party have been tough this year, and Republicans running for office in Colorado are paying part of that price. National party leaders recently announced that they’re spending less money in the state.

The Republicans’ independent expenditure committee canceled several ads it purchased for Colorado, reducing expenses from $4.8 million to $3.6 million. Democrats are spending $4.2 million. In July, the Republican Senate committee had $25 million versus the Democrats’ $42 million.

Nationwide, Republican incumbents face more highly contested races than the Democratic party. Nevada Sen. John Ensign issued a statement saying, “I recently challenged my colleagues to step up to the plate and help me provide the resources our candidates need to compete in races across the country. … It has become clear that my call has gone largely unanswered.”

Republicans are behind Democrats in fundraising for the presidential race, too. Last month, Democratic presidential candidate Barack Obama raised $51 million, compared to $27 million for John McCain. Though these results mark the fifth consecutive month in which McCain recorded an increase in campaign contributions.

In June 2008, Obama announced that he did not plan to use public funding for his campaign. By not accepting public funds, he gave himself the opportunity to raise as much money as possible through private donations.

Reference: The Color of Money


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