THE PLANK APRIL 15, 2007
First McCain's fundraising disappointed, and now this:
Sen. John McCain has spent nearly two-thirds of the money he raised for his presidential campaign this year, leaving him with less than half the cash his major opponents have in the bank.
McCain, an Arizona Republican who raised less money than former Massachusetts Gov. Mitt Romney and former New York Mayor Rudy Giuliani, also spent a bigger percentage of his campaign treasury than his rivals, according to federal reports filed electronically over the weekend.
From January through March, McCain raised about $13 million. But he spent $8.4 million, leaving him with just under $5.2 million at the end of the quarter. The campaign reported $1.8 million in debt, as well.
The figures underscore the difficult political position McCain is in as he struggles to restore some energy to his bid for the White House. Once the heavy favorite in the GOP field, McCain now trails Giuliani by double figures in some national polls. He also lags former Tennessee Sen. Fred Thompson, who has not announced whether he will run.