Clinton Wins Democratic Money Primary

The March 31 deadline for presidential candidates to close their financial books for the first quarter passed over the week-end. Now, the campaigns are tabulating their receipts, and it looks like Hillary Clinton will be declared the winner of the fundraising battle among Democrats. In a democracy, such things don’t matter much, but America’s is heavily tinged with plutocracy, and in such a system, money is the measure of who’s a serious candidate and who isn’t.

Mrs. Clinton’s people have announced that they pulled in $26 million in the first quarter of the 2008 campaign. This is, naturally, a record. She also transferred $10 million from her Senate campaign account, which is legal but not entirely ethical. After all, that money was donated to help her win a New York seat in the US Senate. Some people who donated to it may not want her moving into a new job. No one is sure how much of that $38 million has been spent, but for now, income is more important.

John Edwards’ campaign announced that it has reeled in $14 million, but according to his aides, $1 million of it can only be used in a general election according to the rather arcane regulations that apply. Mrs. Clinton’s people haven’t been as forthcoming (which should surprise no one – the Clinton’s don’t do “forthcoming.”) All the same, “We’re above our budget for the year,” Edwards deputy campaign manager Jonathan Prince said. “We’re completely on track to have all the money that we need to be highly competitive in the campaign.”

Senator Barrack Obama’s campaign has yet to formally provide a number, but they are floating a figure of $24 million to those prepared to listen. The campaign had some last minute fundraising on Saturday that may not have been counted up yet. If his figure is even close to that, the three leading Democrats have already raised more money than all of the Democrats did throughout 2004.

Nonetheless, people shouldn’t read too much into this money grubbing. It only helps establish credibility among people who are likely to endorse or donate. CNN reported, “Republican Phil Gramm of Texas and Democrat Al Gore of Tennessee held the records for first-quarter receipts: $8.7 million for Gramm in 1995 and $8.9 million for Gore in 1999.” Checking a list of presidents, one will notice neither man’s name on the list. Indeed, Mr. Gramm dropped out before the first primary in New Hampshire in 1996.

© Copyright 2007 by The Kensington Review, Jeff Myhre, PhD, Editor. No part of this publication may be reproduced without written consent. Produced using Fedora Linux.

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