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McCain spends $32m, Obama $55m in July
(Agencies)
Updated: 2008-08-21 14:37 WASHINGTON - Presidential rivals Barack Obama and John McCain together spent nearly US$90 million in July, feeding an escalating advertising contest as they tussled for pole position in the midst of summer.
Documents filed with the Federal Election Commission on Wednesday show Obama raised US$50 million and had about US$66 million in the bank at the start of August. McCain reported raising more than US$26 million during the month. He began August with more than US$21 million in the bank.
The two candidates spent aggressively on advertising. McCain targeted about 11 traditional battleground states and Obama ran ads in 18 states, expanding his sights to states that have voted Republican in the past. McCain has agreed to accept US$84 million in a federal campaign grant for September and October. That means he must spend all the money in the campaign's account by the end of the Republican National Convention in early September or donate the balance to the Republican National Committee. Obama has decided to bypass the public funds in anticipation of raising far more money on his own. As a result, he has been trying to build up his cash reserves. McCain showed a debt of US$2 million; Obama had debts of nearly US$1 million. Sen. Hillary Rodham Clinton, who suspended her race for the Democratic nomination in June, reported a slight reduction in her massive campaign debt, cutting it from US$25.2 million at the end of June to US$23.9 million at the end of July. Clinton, who lent her campaign more than US$13 million, has been struggling to raise money to pay off her vendors. She reported raising US$2.5 million in July. In a related campaign money matter, the FEC is scheduled to vote Thursday on whether McCain should be allowed to reject federal matching funds he was entitled to receive during the primaries. Candidates can receive taxpayer money in the primaries based on the number of small contributions they have raised. Accepting the money limits a campaign's spending. McCain had qualified for such funds, but decided not to accept them because he wanted to spend above the limits. Then-FEC Chairman David Mason informed McCain that he needed a vote of the FEC before withdrawing, but at the time the commission lacked a quorum to act. It is now at full strength. The commission's staff has recommended that it approve McCain's withdrawal from the system. But the Democratic National Committee sent the FEC a letter this week objecting to the scheduled vote. Instead, the DNC asked the commission to act on a complaint the Democratic Party filed in February accusing McCain of violating public finance laws. In the letter, DNC general counsel Joseph Sandler said the FEC cannot vote to let McCain withdraw from the primary public funds program because McCain never requested that he be allowed to pull out. The FEC is made up of three Democrats and three Republicans. It takes four votes to approve commission business. |
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