July 13th, 2007
09:12 AM ET
4 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. Shorja Market

    On youtube enter "john mccain" + "baghdad market" to see what a liar mccain is.

    July 13, 2007 11:43 am at 11:43 am |
  2. Awa Henka, Osaka ,Japan

    Can't manage your own campaign, John? And you wanna manage the finances of the entire country? Think again, Johnny boy!

    July 13, 2007 12:00 pm at 12:00 pm |
  3. Virginia, Rusk TX

    If you can't even manage 11 mil for your own campaign, why should we believe that you can manage the US budget? You sank yourself, Bubba, with your stupid support of illegal immigration amnesty and Bush's adventuristic war.

    Good riddance to bad rubbish.

    July 13, 2007 12:05 pm at 12:05 pm |
  4. Fred Abrams, Boulder CO

    McCain should have looked at Blair to see what happens to Bush's lap dogs. Anyone who is following this President into the toilet, should stay in the toilet.

    July 13, 2007 12:33 pm at 12:33 pm |
  5. ronsupporter, wisconsin, ma

    ed failor jr. (iowans-for-tax-relief-guy-ignored-to-invite-ronpaul)is about to leave mccain campaign as well....talk of rats leaving sinking ship?

    July 13, 2007 12:37 pm at 12:37 pm |
  6. ronsupporter, wisconsin, ma

    ed failor jr. (iowans-for-tax-relief-guy-ignored-to-invite-ron paul) is about to leave the mccain campaign...talk of rats leaving sinking (stinking) ship?

    July 13, 2007 12:47 pm at 12:47 pm |
  7. Larry Gates, Portal, AZ

    O, how the mighty are fallen!

    Colin Powel’s sterling career was permanently stained by his loyalty to Bush. Many others also.

    And now McCain. The Strait-Talk Express has been permanently derailed. McCain’s reputation for candor and integrity has always been over-rated, but now he has become a joke.

    His fall began when he turned down John Kerry’s suggestion that he might consider being Kerry’s running mate. Then, after a mysterious weekend at Crawford, Texas, McCain sold his soul to the devil and began campaigning nationally for Bush.

    Here’s what Josh Marshal said this morning, “McCain is a good example of the fact that life can take almost everything away from you, and usually does. But your dignity you've got to give away. And he did.”

    July 13, 2007 12:49 pm at 12:49 pm |
  8. Anonymous

    A self serving maggot will always be a sel serving maggot!!!

    Thank God and Good Ridence!!!!

    July 13, 2007 12:57 pm at 12:57 pm |
  9. John Thomas, Edina, MN

    Looks like Ron Paul is now a front-runner.

    Ron Paul '08!

    July 13, 2007 01:02 pm at 1:02 pm |
  10. ronsupporter, chicago, IL

    ed failor jr. (iowans for tax relief guy who ignored to invite ron paul) is about to leave mccain campaign...

    talk about rats leaving sinking (stinking) ship?

    July 13, 2007 01:12 pm at 1:12 pm |
  11. politicosatire, chicago, IL

    mccain will have to withdraw nomination

    July 13, 2007 01:16 pm at 1:16 pm |
  12. Max, Austin, TX

    You all are are doing exactly what the media want you to do: give up on this guy. I'm not a McCain supporter, but give the guy a break! Primaries are still several months away, but because all of these fools (politicians) have been campaigning since the last election, there's a false sense of urgency. The primaries are not tomorrow.

    CNN, get off McCain's back. You already pushed "second tier" candidates off the cameras in the debates, and you gave only the 3 "leading" Democratic candidates a chance to talk about "faith" in your recent special. "Second tier" candidates don't stand a chance because they can't get the exposure that the CNN darlings get...unless, of course, their campaigns were to have problems the level of McCain's...

    I guess we can also thank the Democrats for handing the debate monopoly over to CNN since they whined and cried enough about Fox News.

    July 13, 2007 01:17 pm at 1:17 pm |
  13. George Webb, Chicago, IL

    Ed Failor Jr. (Iowans for tax relief guy, who ignored inviting Ron Paul) is about to leave McCain campaign....Talk about rats leaving sinking (stinking) ship?

    July 13, 2007 01:20 pm at 1:20 pm |
  14. George Webb, Chicago, IL

    McCain will have to withdraw nomination

    July 13, 2007 01:23 pm at 1:23 pm |
  15. pete Miami Florida

    Looking forward to Mccain's recovery in the coming months. An honorable man like Mr. Mccain is just what we need in this country. I just gave to the campaign. Hope it helps. Keep going John. Stick it in the nay sayers you know where

    July 13, 2007 01:24 pm at 1:24 pm |
  16. GeorgeBushIsANazi

    LOOOSSSEEERRRR

    July 13, 2007 01:25 pm at 1:25 pm |
  17. Barry, Cedar City, Utah

    From the AP version of this story:

    " "We didn't use the money in the most effective way," (McCain) said. "

    The story of everyone in Congress, in a nutshell.

    July 13, 2007 01:34 pm at 1:34 pm |
  18. Franklin Turner, Tampa, FL

    My favorite GOP talking point is to make sure to blame the Iraqi government for failing to make progress in stabilizing Iraq.

    Yeah, let's not place the blame where it should lie: George W. Bush and his neoconservative handlers, for taking the lid off this Pandora's box. Let's blame Iraq's government for doing such a poor job of trying to put the lid back on.

    The fact is that President Cheney knew what would happen in Iraq and led Mr. Bush and the country into this awful mess anyway. So how does one not get impeached for putting profits ahead of your country's interests?

    "How many casualties should the United States accept in that effort to try to create clarity and stability in a situation that is inherently unstable?" –Dick Cheney

    July 13, 2007 01:54 pm at 1:54 pm |
  19. Byrdlegs

    It's about time. I only wish their are enough funds left in the campaign to fuel the "Straight Talk Express" and drop McCain off at the retirement home in Arizona. If he isnt smart enough to distance himself from the nitwit in office, he surely isnt smart enough to be our president.

    July 13, 2007 03:13 pm at 3:13 pm |
  20. Mary, Mill Valley, CA

    What he has done, is get in bed with the devil. He's made some back-agreement, he backed Bush's war to get something after he drops out of the race. I wonder what he traded our troops lives and innocent Iraqi lives for? Brunch and karaoke with the President?

    July 13, 2007 03:35 pm at 3:35 pm |
  21. Stevorama, Riverside, CA

    The only gay sweater he needs to worry about was in a hot Florida john offering $20 and a BJ to an undercover cop.

    July 13, 2007 04:00 pm at 4:00 pm |
  22. Ricardo, Orange CA

    If McCain can't properly run a campaign, how can we expect him to run this country?

    July 13, 2007 05:18 pm at 5:18 pm |
  23. pancanlview

    When we change substance for glitter and we forget the teachings of history our children will lament.
    Irak today is Spain post world war II they are preparing and practicing.
    John McCain will go nowhere.
    yet as unpopular as he might be his mesage is correct.
    They will follow the troops home!
    Because they are stronger today than ever.

    July 13, 2007 05:27 pm at 5:27 pm |
  24. Russ, Phoenix, Arizona

    Where did the money go? People have a short memory when it comes to McCain. Remember the "Keating 7"? John was one of them and suspected of bilking Lincoln Thrift Savings and Loan. Charles Keating took the fall. So John now takes funds in campaign contributions and bails. Go figure! He cut his staff and their pay. He would have lost all staffers to cheaper Hispanics had the immigration bill passed. Way to go John. McCain should be more focused on saving his Senate seat, as President is out of the question. Don't let the door hit you on the way out...

    July 13, 2007 06:48 pm at 6:48 pm |
  25. Heathyr **Peoria, AZ** PROUD AMERICAN!

    ***start a grass roots campaign here in Arizona that gives citizenship to illegals willing to serve a couple years overseas in the military***

    I couldn't agree more! I say that all illegals caught crossing the border have TWO options.
    1.) Serve in our military, give them a backpack with the essentials, a gun and a jug of water and send them to Iraq
    2.) Don't serve in our military and we ship them over to Iraq without the pack, gun or water

    One might think TWICE before committing a CRIME of coming into our country ILLEGALLY!

    July 13, 2007 07:05 pm at 7:05 pm |
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