Ron Paul Tops John McCain in Cash on Hand
Ron Paul reports $2.4 million in cash remaining in his campaign coffers, compared to just $2 million for John McCain.
George Stephanopoulos apparently broke the story:
Though often regarded as a longshot candidate for president, Republican Ron Paul tells ABC News that he has an impressive $2.4 million in cash on hand after raising an equal amount during the second quarter, putting him ahead of one-time Republican frontrunner John McCain, who reported this week he has only $2 million in the bank.
In an exclusive interview taped Friday and airing Sunday on “This Week,” Paul said his campaign is on a better trajectory than McCain’s. “I think some of the candidates are on the down-slope, and we’re on the up-slope,” said Paul.
Paul’s cash on hand puts him in third place in the Republican field in that important metric, although he is well behind leader Rudy Giuliani, who has $18 million in the bank, and Mitt Romney, with $12 million.
Yet, while it sounds impressive to say that upstart Paul has more money than former frontrunner McCain, I’m not so sure. CNN’s Alexander Mooney seems to have the real story: “Paul, with only 11 staffers on his campaign, runs a frugal campaign. The Texas Republican rarely travels to key campaign states.”
While McCain’s candidacy is in real trouble and his second quarter fundraising is “disappointing” compared to the other top tier candidates, he still raised $11.2 million compared to Paul’s $2.4 million. It’s just that McCain is actually running a campaign and thus spending money nearly as fast as it comes in. Paul is basically running a Facebook campaign and showing up for debates.
The Hill‘s Klaus Marre reports that, “Paul leads all Republicans in YouTube channel views with nearly 2.1 million, according to the popular video website. The next closest Republican is Romney, who has fewer than 700,000 channel views. Only Sen. Barack Obama (D-Ill.) has more among all presidential candidates, with close to 5.2 million.”
Paul is a refreshing candidate and is radically different from anyone else in the field. And he’s generating more buzz than I would have predicted. Still, until he starts approaching McCain in the public opinion polls, let’s not get too awfully excited. After all, the debate performances that have the YouTube crowd flocking to his videos have rendered Paul a nut in the eyes of most of the people who will actually show up to vote in Republican primaries.
It’s incredibly unlikely that either McCain or Paul will get the nomination. If I had to bet on one of them, though, it wouldn’t be Paul.