CNN has learned McCain’s campaign has only $250,000 left.
WASHINGTON (CNN) – CNN has learned the already-dire situation for Sen. John McCain's presidential campaign has actually gotten even worse, with two sources close to the candidate saying the campaign only has a paltry $250,000 left.
The sources tell CNN that next week the McCain campaign will reveal it has about $1.75 million in unpaid debts, wiping out the $2 million in cash-on-hand the campaign currently has in the bank.
It was not immediately clear whether the campaign debt must be repaid immediately or whether the debt can be paid back over time, including after the presidential campaign ends.
Even though McCain has raised just over $11 million overall in the last three months, his campaign has spent large sums of money, one of the primary reasons for the departure earlier this week of his top two strategists, Terry Nelson and John Weaver.
A McCain spokesman had no comment on the latest financial troubles, which will spark a new round of speculation about the candidate's viability. Campaign officials are expected to release details about campaign’s financial situation early next week.
– CNN White House Correspondent Ed Henry
TIME.com: Is John McCain's Candidacy Cooked?
Time to drop out John. After all you're just a 'George Bush Lite'. What a waste of 11 million dollars.
It's over old man.
McCain's candidacy is cooked because of his support for Bush, Bush's war, and the illegal aliens. Americans may be divided at this time in our nation's history, but they're still on the same page when it comes to one thing: THE RIGHT THING. Bush's war is wrong for the country and so are illegal aliens.
McCain has to withdraw from the race. His messages are not popular. He is same old same old. He is also two face.
D'oh! I almost feel bad for him, frankly.
Naah, just kidding. Warmongers get what they deserve. I'm happy to see Ron Paul destroying a former "top tier" candidate.
Looks like Ed Failor should have invited Ron Paul to the Iowa Forum...
...Can you say, BLOWBACK!!
GOOD NEWS! I hope McCain bows out! He's not a true Conservative Republican!
Go, Tancredo, GO!
Doubtful that he can recover, but Americans love a comeback kid so don't count him out completely yet.
Is there anyone still contributing to this nut case?
Time for the old man to go. Let him drive his Straight Talk Express all the way into retirement.
I contibute to this "nutcase". John McCain is a great American and the best choice for president
*** but Americans love a comeback kid ***
Yes, but not a comeback tired old man who represents Bush's catastrophic Iraq policies and hugely unpopular (to Republicans) immigration proposals.
Somebody stick a fork in him, because he's done.
When one have been running for presidency forever and never even come close to winning, at what point do you get a clue that it's time to change goals. McCain should just call it quit and retire with grace!
i sent them an email over a year ago with this suggestion,start a grass roots campaign here in Arizona that gives citizenship to illegals willing to serve a couple years overseas in the military,those that honorably serve get to become Americans as do their immediate family.you want to be an American,prove it!coming here to make money doesnt make the grade!
Mccain thinks building a 700 mile plus fence is the answer to illegal immigration
I guess he forgot that Berlin wall thing and how much open border encompasses North America
if he cant figure out whats good for Arizona,how can he lead a whole nation?
but i love you for the sacrifice you made during 'Nam
but the dream is over John!
If he can't handle his money then why should people think he can handle our country? Besides, Ron Paul is the real underdog hero.
Bye, Bye, Johnny Boy!
Ron Paul is now accepting ex-McCain Supports with open arm's. He won't waste your donation.
I just love how they post the most loser mug shots of this guy. It is consistent.
Such a maverick. Where did that 10,750,000 go anyway? Certainly not to a shrink. Must of been all those junkets to Baghdad to shop for cheap rugs.
McCain is reaping what he sowed when he supported Bush in this reelection and also in the war. And he just keeps making mistakes by supporting the immigration bill. He deserves his dismal position because he has not served the people well. In fact, I am not sure why he is considered a War hero. I mean the guy got caught. What is so great about that. Maybe if he had escaped that might be more heroic.
Its a shame that his campaign is fairing so poorly, as he was the only GOP candidate in the primary debates that didn't condone torturing foreign detainees. But let's be realistic, supporting this administration in just about anything is political suicide these days. It maybe be a tough pill for the conservative religious right to swallow, but moderates like Giuliani, Specter, Chafee, Powell or (formally) Bloomburg are probably the only possible GOP candidates that has a ghost of a chance of facing off against the Democratic candidates in 2008. Between this president becoming a political pariah, the recent popularity of the Democratic Party and the sudden increase in viable independent politicians, if Rudy (or Republicians like him) don't get the nomination, history will probably look back at 2008 as the beginning of the end for the Republican Party. It would be a shame if the GOP went the way of the Federalists and the Whigs, but if these ultra-conservative, right wing, scientifically backward caricatures are the current incarnation of the Republican Party, even Abraham Lincoln would agree that it would be for the best to put them out of their misery.
Speaking from someone who was worked on 10 election campaigns there is no way that he can recover. His campaign is toast and he will be the first to drop out of the campaign I would say by the end of August.
Good. I hope he goes bankrupt before the primaries even start. For the better part of 2 Bush presidencies I've waited for this guy to get the chance to run again...and then he blows it by becoming all buddy buddy with Bush and supporting this abomination of an "international conflict". I could no longer even consider voting for this man.
I'm not surprised. McCain is spending his campaign funds in exactly the same manner he spends the Peoples money. Recklessly!
Just another example of the irresponsible politicians infesting Washington.
He lost his support because of his support for the amnesty bill; pure and simple. Shame, (and no, he isnt a nut case) he was a good candidate and amazing war hero. However, he forgot that the will of the people trumps the whims of the US Congress. Too bad he had to learn it this late in his life.