Clinton Doesn't Get 'Knockout Blow'
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By Jonathan D. Salant and Kristin Jensen
April 2 (Bloomberg) -- Democratic presidential front-runner Hillary Clinton raised $26 million in the first quarter, shattering party records and yet just meeting the expectations she's created as a prodigious fundraiser.
The New York senator added $10 million more left over from her Senate account, bringing her total to $36 million, her campaign announced yesterday. The campaign didn't say how much it spent organizing fund-raising events from New York to Los Angeles, or how much it had left over in cash. Third-place contender John Edwards brought in $14 million.
The so-called ``money primary'' now offers a test for Illinois Senator Barack Obama, who is Clinton's closest competitor in polls. Clinton had been trying to deflate Obama and other rivals with her front-running status, high-powered endorsements and huge fundraisers.
``I don't think the amount is the knockout blow,'' said Herbert Alexander, professor emeritus of political science at the University of Southern California in Los Angeles.
Obama's campaign hadn't yet released an estimate as of late yesterday. The campaigns aren't required to report their first- quarter results until April 15. Campaign finance experts and political operatives expect Obama, 45, to report that he raised $20 million or more.
Clinton ``is raising money at a rate far beyond any previous Democrat,'' said Anthony Corrado, a professor of government at Colby College in Waterville, Maine. ``Really, the only comparison here is with George Bush when he ran without opposition in 2004.''
Record Fundraising
Officials at the campaigns of the three leading Republican contenders, Arizona Senator John McCain, former New York Mayor Rudolph Giuliani and ex-Massachusetts Governor Mitt Romney, said they weren't yet releasing figures.
Three other Democratic contenders also reported their fund- raising totals for the first quarter: New Mexico Governor Bill Richardson brought in $6 million, his campaign reported; Delaware Senator Joseph Biden raised about $3 million, he said on ``Fox News Sunday.''
Connecticut Senator Christopher Dodd took in $4 million, and added $5 million more from his Senate account, bringing his first-quarter total to $9 million, his campaign said.
This year's record fundraising stems in part from the disintegration of the public financing system, which offers candidates funds if they abide by spending limits. Clinton began raising money for both the primary and general elections from the start, allowing a single contributor to pony up $4,600. In 2003, candidates raised at most $2,000 from an individual donor.
General Campaign
Clinton spokesman Howard Wolfson said he didn't know how much of the $26 million came from donations for the general campaign, which are usable only if Clinton, 59, becomes the Democratic nominee. Edwards, by contrast, said about $1 million of his $14 million is general-election money.
Counting her Senate campaign funds, Clinton's $36 million is the third-biggest fund-raising quarter in the year before a presidential election, trailing only the $50 million that President George W. Bush raised between July and September 2003 and his $48 million total in the fourth quarter of that year.
``Hillary is expected to win everything,'' Democratic consultant Jenny Backus said. ``She's running as the inevitable front-runner.''
Gore's Record
The previous first-quarter record for a Democrat was held by then-Vice President Al Gore, who raised $8.9 million in 1999. The biggest earner in the same period of 2003 was Edwards, who surprised analysts by bringing in $7.4 million.
Both the Clinton and Edwards campaigns said they couldn't give figures yet for cash on hand as they are still tabulating their expenses. Clinton drew fire last year for spending $37 million of the $51 million she raised for a Senate re-election campaign with no real competitor.
``She has a very top-heavy operation, and eventually, it is going to be a problem for her with donors,'' said Linda Fowler, a government professor at Dartmouth College in Hanover, New Hampshire.
Before this year, the biggest Democratic fund-raising quarter in an off year was the $16 million that former Vermont Governor Howard Dean took in between October and December 2003.
Dean helped revolutionize presidential campaigning by harnessing the power of the Internet. This year, Clinton's campaign bragged she took in $4.2 million over the Internet during the first three months of 2007. Edwards, 53, brought in $3.3 million online.
Temper Expectations
In recent days, while candidates scrambled to raise money before the first-quarter deadline of March 31, they also tried to temper expectations. The Clinton campaign, for example, insisted its goal was to raise just $15 million.
``The way to read the story is those who set unrealistically high expectations for the other camp are attempting to lay a trap, and those who are pooh-poohing their own prospects are deliberately setting the stage for a more impressive showing,'' said former Republican National Committee Chairman Richard Bond.
Obama and Edwards don't need to match Clinton's fund- raising pace to stay competitive, said Clyde Wilcox, a government professor at Georgetown University in Washington.
``All you really need is enough money to reach the voters,'' Wilcox said. ``Hillary is not inevitable.'' |
