McCain exits campaign money race

By: Jeanne Cummings
The Politico
April 21, 2008

John McCain is abandoning any hope of catching the Democrats in fundraising.

Based on new financial disclosure reports released Sunday, and interviews with his finance team, the Republican Party’s presumptive nominee will instead accept taxpayer money to finance his general election and share other costs with the Republican National Committee.

The strategy will allow McCain to stretch his campaign dollars by splitting the cost of television advertising and other campaign activity with the RNC.

But the decision also puts the Arizona senator at risk of being badly outspent – even with RNC help – by a Democratic nominee who will be allowed to spend as much as he or she can raise on the November race.

McCain has raised a total of $72 million for his presidential bid, including $15 million in March. He ended last month with about $11.5 million in cash.

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