July 13th, 2007
09:12 AM ET
7 years ago

McCain campaign running out of money

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?

Filed under: John McCain
soundoff (88 Responses)
  1. Stephen, Nashua NH

    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.

    July 12, 2007 07:41 pm at 7:41 pm |
  2. Chris, Carlsbad

    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.

    July 12, 2007 08:12 pm at 8:12 pm |
  3. JLE, Seattle WA

    McCain sure isn't getting the money. Its all starting to go to Ron Paul! I donated $150.00

    "Peace, commerce, and honest friendship with all nations-entangling alliances with none."

    Thomas Jefferson

    July 12, 2007 08:13 pm at 8:13 pm |
  4. cs

    i think the answer is yes, he is cooked. when huckabee, brownback, and possibly even gilmore have more money than you, i would say you are cooked.

    July 12, 2007 08:18 pm at 8:18 pm |
  5. Hank Essay, San Francisco, CA

    Sounds like the Crooked Talk Express has run off a cliff....

    July 12, 2007 08:19 pm at 8:19 pm |
  6. Les, Seoul

    If you can't manage your campaign budget you can't be given the responsibility of managing the country.

    July 12, 2007 08:20 pm at 8:20 pm |
  7. Sam, Virginia

    It doesn't take a rocket scientist to figure this one out, but I predicted that the immigration bill would be the beginning of the end for his campaign.

    July 12, 2007 08:21 pm at 8:21 pm |
  8. truth minded liberal

    McCain has never in reality had a chance to begin with. His views are based in the same fantasy wirkd as Bush,Cheney and he is dismissed as a nutcase.
    A much more important question is whether or not the administration will sponsor a terrorist strike inside the US and try to go dictatorial on us.
    This time they won't be able to blame the previous administration, but even if they do, dissenters will be rounded up and sent to the camps.

    July 12, 2007 08:27 pm at 8:27 pm |
  9. Ned, Tampa, FL

    It is time to call it a day and get behind another candidate. Resume his leadership in the Senate, where we need him, and he can correct the errors that made him tank in the first place. Republicans need to circle the wagons around a nominee sooner than later. Let the dems tear themselves apart with a bloody primary.

    July 12, 2007 08:29 pm at 8:29 pm |
  10. Mike, HI

    Here's hoping he removes himself from the race soon, so we don't have to see ten stories a day about how his campaign is faltering.

    July 12, 2007 09:06 pm at 9:06 pm |
  11. Brad, Murrieta CA

    I'm voting for Ron Paul.

    July 12, 2007 09:52 pm at 9:52 pm |
  12. Keith McCleron, Des Moines, Iowa

    Is this a preview of his Presidency? Fiscal responsibility rates high on the list of Presidential abilities for this Republican Primary voter.

    July 12, 2007 10:02 pm at 10:02 pm |
  13. Ashley, Saint Petersburg, FL

    Now it's time for CNN to spend more time on Ron Paul who is now in third place in money raised and cash on hand.

    July 12, 2007 10:18 pm at 10:18 pm |
  14. Bren, Pittsburgh PA

    Poor poor Juan McAmnesty.....

    Time to throw in the towel and move to Mexico and run for office there!!

    If I want to send 50 cents to Juan McAmnesty's campaign, should I send pesos???

    July 12, 2007 10:32 pm at 10:32 pm |
  15. Brennan Morris, Dumfries, VA

    Is John McCain a top tier candidate? No. But he is still winning in a dozen primary states, and even without the money, he already has huge name recognition. So, It is important to realize that McCain still has a shot, even if he's not a front-runner. Its Six months before Iowa!

    Either way i'm not pulling for him; i'm going for Romney.

    July 13, 2007 12:16 am at 12:16 am |
  16. Blake Wood, Cedar Falls, Iowa

    All of these "dancing on the grave" comments about the demise of McCain's candidacy are off the mark. First, his major donors have indicated that they're going to stick with him. Second, his experience and knowledge outpaces the rest of the field (Democrats included) by miles. Third, his record of overcoming personal and political adversities makes all of the other candidates pale in comparison. In addition, each time he hits the campaign trail in earnest, his poll numbers go up. If Bill Clinton can survive woes on the campaign trail that should have buried his candidacy in 1992, then John McCain can certainly rebuild his support in Iowa, New Hampshire, and South Carolina.

    July 13, 2007 12:28 am at 12:28 am |
  17. Bobby, Long Beach, (occupied) California

    Had he been a strong supporter of border security and the elimination of illegal immigration into this nation, he would probably have been the next President. Instead he spendt his time going around the country, and informing Americans on how lazy they are, that we would'nt pick lettuce for 50 dollars an hour. Some people have said he is involved in business with the Narco state known as Mexico. Enough said?

    July 13, 2007 03:24 am at 3:24 am |
  18. Cranky Media Guy

    Once upon a time, John McCain WAS a courageous American.

    That was a long time ago. Today's John McCain is a guy who, AFTER the Bush people spread rumors that his wife was nuts and that he had an out-of-wedlock black child, STILL literally and figuratively embraced George W. Bush.

    Who could support a man who won't even stick up for his wife and child? Time to check into the home, Johnny. Your time has come and gone.

    July 13, 2007 03:57 am at 3:57 am |
  19. Anonymous

    It makes me vomit every time I think of the way he was hugging and kissing Bush. Good riddance,

    July 13, 2007 10:21 am at 10:21 am |
  20. Paul T NJ


    You are a great senator, but please drop out & turn on this corrupt administration.

    The republican party needs to be saved & you can help by telling the truth.

    July 13, 2007 10:23 am at 10:23 am |
  21. Timmy, Berlin, CT

    The repuglicons are moving away from Bush, because the oil deal in Iraq is not going so well. Poor Exxon/Mobil. But this guy who Bush ripped into in 2000, still kisses his butt. Warmonger Moron.

    July 13, 2007 10:40 am at 10:40 am |
  22. NonAmnesiac, Jersey City, NJ

    Mc Cain needs to do something dramatic. He needs to fully support Bush. If he just says he talked to God and God said to stay in Iraq, if he brings Seabiscuit (Michael Brown) into his campaign as director of natural calamities, if he hires Scooter and promises a second pardon after Bush pardons him, if he hired Karl Rove, if he promises to replace all federal workers with Haliburton on no-bid contracts, he'll change his fortunes for sure.

    It's not enough to just support the war and immigration.

    July 13, 2007 10:49 am at 10:49 am |
  23. aeskylos North Tonawanda NY

    McCain probably spent it all on his young chickies.

    July 13, 2007 10:50 am at 10:50 am |
  24. Rose Long Beach, NY

    Goodbye Granpa why would I vote for someone who sucks up to the very same thugs who dissed his wife and family? Talk about ambition trumping everything.

    July 13, 2007 11:22 am at 11:22 am |
  25. Chris, Atlanta, GA

    John McCain is an honorable man who stands by his priciples even though it's not popular to do so. His alliance with George Bush however is an indication that he's for more of the same and that's not the change the american people are demanding.

    July 13, 2007 11:23 am at 11:23 am |
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