Money Talks

‘The release of the second-quarter fundraising totals spells trouble for two presidential candidates: Democrat John Edwards and Republican John McCain. Edwards has always been a long-shot for the nomination, but McCain was once the Republican frontrunner and expected (by me, among others) to have an easy path to the nomination. His candidacy is in now a shambles–and for more reasons than money.

‘When former Senator Phil Gramm was running for the Republican presidential nomination in 1996, he used to cite "Huckaby’s Law," named after political consultant and fundraising expert Stan Huckaby. Huckaby’s Law said that the presidential candidate who raised the most money by January 1 of election year would inevitably win the nomination. John Connally had defied the law in 1980, but that was before public financing kicked in.’ (New Republic article).

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