GOP field is trailing in run for the money - In reversal, Dems are fundraising leaders

GOP field is trailing in run for the money - In reversal, Dems are fundraising leaders
By Jill Zuckman and Naftali Bendavid, Washington Bureau Tribune staff reporter John McCormick contributed to this report from Iowa
Copyright © 2007, Chicago Tribune
Published July 4, 2007

WASHINGTON -- One day after Sen. John McCain scaled back his campaign operation for lack of funds, Mitt Romney proved once again that he has the deep pockets necessary to pay for his presidential campaign, while Rudolph Giuliani demonstrated a knack for bringing in big money.

But unlike most presidential contests, Republicans are lagging sharply behind Democrats in fundraising. That disparity signals an energized Democratic base compared with Republicans, who are dispirited after losing control of Congress and watching President Bush's job approval ratings plummet under the weight of the Iraq war.

"Public opinion polls say Democrats are much more excited about their candidates than Republicans are about theirs," said Stephen Wayne, a government professor at Georgetown University. "There is a belief that it will be a Democratic year. So if you are enthusiastic about your candidates and you think you are going to win, those are two reasons that Democrats are doing much better at this point."

Romney's campaign announced Tuesday that the former Massachusetts governor raised $14 million in the second quarter of this year and lent himself $6.5 million of his own money.

At the same time, Giuliani officials crowed that the former New York City mayor had raised $17 million for the same period, the most of any Republican candidate, with $15 million of that to be used for the primary campaign rather than the general election. Romney's funds are strictly for the primary, usually considered the true measure of financial strength at this stage of the campaign.

But the figures are dwarfed by those of the Democrats. Sen. Barack Obama of Illinois announced this week that he had raised $32.5 million in the second quarter, and Sen. Hillary Clinton of New York has brought in $27 million, meaning the top Democrats are close to doubling the fundraising of their GOP counterparts.

That gap, analysts said, suggests far more excitement among rank-and-file Democrats for their top candidates. In the meantime, Republicans' lack of enthusiasm for their current hopefuls has sparked an interest in former Tennessee Sen. Fred Thompson.

Larry Sabato, director of the University of Virginia's Center for Politics, attributed the GOP's money struggles to a broad malaise within the party. Republican voters, he said, "are depressed. Things are going poorly. Immigration split the party, Iraq is splitting them more than they're admitting. You've got a third of Republicans unhappy with Bush administration policies in Iraq, and I would predict flatly that number will increase."

Still, the Republican campaigns portrayed their fundraising numbers as healthy and a sign of momentum.

"Since joining Team Rudy, I have been increasingly encouraged by the response to Rudy's message across the country," said Anne Dunsmore, Giuliani's deputy campaign manager. "That strong support translates into an increase in the number of events, donors and dollars, which will allow us not only to compete and win the primary but to win the general election."

Momentum seen

Romney's aides similarly portrayed their total as a sign of growing support. "Gov. Romney's momentum is the result of his message, which is centered around changing the status quo and transforming Washington," said campaign spokesman Kevin Madden.

The most important figure, however, is how much cash each campaign currently has in the bank -- that is, income minus expenditures. Giuliani said he has $15 million and no debt; Romney reported $12 million, and McCain, once considered the Republican front-runner, has just $2 million.

Altogether, Romney has raised $43.9 million this year, making him the leading money-raiser among Republican candidates. Discounting his own contributions, he has raised $35 million so far this year, purely for the primaries. Giuliani and McCain are raising funds for both the primaries and the general election. Giuliani has raised a combined $32 million for the year. And McCain trailed them both, with a combined $24.3 million.

While Giuliani's fundraising has been increasing, however, Romney's total fell short of the first quarter, when he brought in $20.6 million and lent himself $2.35 million.

Romney may need as much money as he can get because he is burning through it. The Nielsen Co. said Monday that Romney has placed more local television ads than all the other presidential candidates combined. Romney has run his ads in seven markets, including Iowa and New Hampshire.

Those ads, however, appear to have paid off. Romney has boosted his profile, as well as his poll numbers, in early voting states.

The excitement gap between the parties is being reflected in other ways. Obama, for example, has reported receiving contributions from 258,000 people, suggesting a broad base of support. Romney's campaign said its contributions came from 80,000 individuals, and McCain officials said 72,000 people contributed to their effort. Neither Giuliani's nor Clinton's campaigns released the number of their donors.

Low satisfaction

Lawrence Jacobs, a political scientist at the University of Minnesota, cited a recent poll showing that while two-thirds of Democrats were satisfied with their candidates, a similar number of Republicans were dissatisfied with theirs.

It is this displeasure that has fueled a drive to bring Thompson into the race.

The fundraising disparity is particularly notable because Republicans usually out-raise Democrats, relying on a greater number of relatively well-off contributors willing to write them checks. But this year, rank-and-file Democrats' frustration with years of Republican rule, combined with a sense of optimism that they might win the presidential election, has capsized the usual pattern.

"Can you remember a cycle like this? I can't," Sabato said. "I can't remember Democrats out-raising Republicans without an incumbent."

----------



jzuckman@tribune.com

nbendavid@tribune.com