USA: The race for President in 2008 is shaping up to be the most expensive race in U.S. history

Record ID: 347713

  • Title: USA: The race for President in 2008 is shaping up to be the most expensive race in U.S. history
  • Date: 23rd February 2007
  • Summary: (BN03) WASHINGTON, D.C., UNITED STATES (FEBRUARY 22, 2007) (REUTERS) (SOUNDBITE) (English) SHEILA KRUMHOLZ, EXECUTIVE DIRECTOR OF CENTER FOR RESPONSIVE POLITICS, SAYING: "Serious candidates, viable candidates are going to have to raise nearly $50 million just to get to the primary season, nearly $100 million just to get through the primary season, and again if you're the
  • Embargoed: 10th March 2007 12:00
  • Keywords:
  • Location: Usa
  • Country: USA
  • Topics: Domestic Politics
  • Reuters ID: LVA8ZI3A7GT9BWCN66XEJ76LZDPK
  • Story Text: It's the lifeblood of American politics and as the race for the White House in 2008 heats up, campaign cash is fast becoming what some say is the most important factor in determining who will win the White House.
    That daunting figure, half a billion dollars, has already created a top tier of candidates in the Democratic Party.
    For Hillary Rodham Clinton, the fundraising network inherited from her husband, former President Bill Clinton, is deep and wide. And with a finite amount of campaign money to go around, Clinton's network may make things difficult for the fundraising operations of both former North Carolina Senator John Edwards and Barack Obama, the junior Senator from Illinois, who has already created a lot of buzz on the campaign trail.
    Obama, though, has shown his own muscle, racking up $1.3 million in contributions from Hollywood A-listers in just one night.
    And while New York Senator Hillary Clinton can tap strong ties to Wall St., former Senator John Edwards counts on money from legal circles and trade unions.
    On the Republican side, three candidates, Senator John McCain, former New York City Mayor Rudy Guiliani and former Massachusetts Governor Mitt Romney, have emerged as having the ability to raise significant amounts of campaign cash.
    Ultimately, the top tier candidates from both sides must decide whether to abide by the spending rules and limits of public campaign financing or opt out and try to raise a boatload of money on their own.
    With less than a year until the first primary, one thing seems certain: 2008 is shaping up to be the most expensive race for the White House in U.S. history.
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2015. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
Register