Running for the Democrat presidential candidacy costs money, let alone running for the highest office itself.
But focusing on how much the key Democrat presidential nominees can earn is a distraction. In fact, the non-Hillaries are worth far more than Mrs. Clinton alone.
US primary campaigns are notorious for all the razzmatazz you can imagine. The politics itself is almost overshadowed by the endless round of conventions and hard-hitting advertising: at times, the campaigns look more like traveling circuses than sober attempts to name a potential leader of the free world.
After that, it gets worse. According to the BBC, George W. Bush’s 2004 re-election campaign is estimated to have run to $273 million; John Kerry raised $249 million. The next Democratic candidate is going to need even more.
So even at this early stage, it’s all about the money. It stands to reason that the party nominee who can score the most dollars now will have a higher chance at the primaries. The Democrats certainly aren’t going to want to back a lame duck from the start, and financial contributions in 2007 must indicate the relative levels of popularity each will enjoy when crunch time comes next year.
The Washington Post today reports the approximate funding the four main candidates have raised over the last three months:
- Hillary Clinton: $17 million
- Barack Obama: $17 million
- John Edwards: $7 million
- Bill Richardson: $5.2 million
So between the bunch, and knowing that Hillary and Barack haven’t yet disclosed the exact totals for the quarter (they’ll have to by October 15), that’s a cool $46.2 million: $17 million for Hillary and $29.2 million for the other three.
But with eight Democrat candidates standing (let’s not forget Dodd, Biden, Gravel and Kucinich, however tempting it might be), isn’t there something of a distortion here?
Let’s play devil’s advocate for a moment. Perhaps the main thing going for seven of them is the simple fact that they’re not Hillary. Tot up the known funding totals so far for this magnificent seven (derived from opensecrets.org) and the figures speak clearly. Between them, they’d gathered $115 million by quarter two - $52 million above Mrs. Clinton’s equivalent total, or about 83% more.
What does that tell us? It tells us that - assuming anti-Hillary voters would support anyone who wasn’t married to an ex-president - the ‘I’m not Hillary’ ticket is worth almost twice as much. The problem is that it’s currently diluted between the seven others, so the cash is simply not as effective.
But as far as the current campaigns go, there can be only one. So what happens to all the spare cash the unsuccessful candidates have raised? Are they going to pool it for the long-term good of the party? I doubt it. No, even though the anti-Hillary nominees are worth 83% more, they may not to be able to capitalize on it.