I'm not going to cry over former Iowa Governor Tom Vilsack's retirement from the 2008 presidential elections (although some will make him into a progressive martyr), but this just doesn't seem right:
Vilsack was always considered a long shot for the nomination, in part because of the financial mountain he had to climb. Federal law limited him to raising $2,300 per person, and he could not use money from any gubernatorial campaign account to finance his bid. But U.S. senators can transfer money from Senate campaign accounts to presidential ones, which effectively means they can raise more money per donor than Vilsack could.
One consultant blamed Vilsack's demise on the dynamics of Senator Barack Obama's entry into the presidential race:
Jerry Crawford, one of the leading Democratic strategists in Iowa, said everyone knew that Clinton would be a formidable fundraiser, but «when Obama got in the race, it just took all the cash out of the room and all of the fundraisers out the room.»
Vilsack formally launched his candidacy Nov. 30 and raised about $1.13 million by year's end. Aides said he was on track to add only about $1.3 million more by the end of the first quarter -- an amount Obama raised at a Hollywood fundraiser on Tuesday -- and already was in debt.
This is a theme John Nichols also repeats, along with the claim that Vilsack's candidacy was just a blocking move Obama undermined.
Had the 2OO8 race begun more slowly, Vilsack might have had a better run. The original plan was for Clinton launch her campaign at the relatively leisurely pace of a clear front runner. With that in mind, Clintonites quietly encouraged Vilsack to get in the race early and to run hard -- in order to prevent the Edwards campaign from gaining too much of a lead in the essential first-caucus state.
But Obama changed everything. After achieving superstar status on the fall 2OO6 campaign trail for Democrats around the country, the senator made it clear in early January that he intended to seek the party's presidential nod. That forced Clinton to move her schedule forward and to hightail it into Iowa in order to counter the Obama surge.
Clinton's moves were smart, and effective. She's holding her own in a state where it was thought she would have a hard time. But the former First Lady's fast start turned Vilsack's candidacy into little more than an annoyance. There was no longer a need to have a homeboy candidate keep Iowa's county chairs on the sidelines -- either backing their former governor or at least refusing to make endorsements that might embarrass him. In fact, Vilsack was in the way. Whatever money might have slid into his campaign accounts from DLC-tied donors dried up, and the Clintonistas who had been giving him encouragement were now encouraging him to quit the race and let Hillary grab up as many of his Iowa backers as possible.
It's good news for the GOP-one less Democrat to steal its candidates' thunder. And, who can pick up Vilsack's 10%-15% in the Iowa polls will probably win the caucuses. I really hope it's not former Senator John Edwards.
«I voted for this war. I should have not voted for this war. I was wrong to vote for it,» the former North Carolina senator said in Nashua, the second-largest city in the state that helps to kick off the 2008 White House race.
«I have to take responsibility for that, and I do. Nobody else has that responsibility,» he told a crowd of about 125 people in the home of a New Hampshire state senator.
Why would anyone vote for a guy who was wrong and whose stump speech reiterates an apology?
New Mexico Governor Bill Richardson is making a strong move for...er, Secretary of State (via Matthew Yglesias).
Meanwhile, the Clinton campaign can rely on its finance workhorse, Bill:
Indeed, the Clintons -- who left the White House with an estimated $12 million in legal debts rung up during the Whitewater, campaign fundraising and Monica S. Lewinsky investigations -- are worth an estimated $10 million to $50 million, according to Hillary Clinton's most recent disclosure form. That is attributable primarily to the speaking fees and to the seven-figure book deals that both Clintons signed shortly after leaving the White House.
The fortune they have amassed gives the Clintons a nest egg for the first time, and it allows them to tap into that wealth for a campaign if Hillary Clinton, as expected, forgoes public financing in her race for president. It also suggests a sometimes close connection between their personal finances and her political career.
Many of Bill Clinton's six-figure speeches have been made to companies whose employees and political action committees have been among Hillary Clinton's top backers in her Senate campaigns. The New York investment giant Goldman Sachs paid him $650,000 for four speeches in recent years. Its employees and PAC have given her $270,000 since 2000 -- putting it second on the list of her most generous political patrons.
The banking firm Citigroup, whose employees and PAC have been Hillary Clinton's top source of campaign donations, with more than $320,000, paid her husband $250,000 for a speech in France in 2004. Last year, it committed $5.5 million for Clinton's Global Initiative to help encourage entrepreneurship and financial education among the poor.
Asked about the companies and their relationship to the Clintons, Jay Carson, a spokesman for the former president, said, «It certainly makes sense that reputable New York companies who support the policies and works of President Clinton and his foundation would also be supportive of their senator.»
And then, there's the Clinton campaign's One Week, One Million promotion (currently it has raised $519, 131).
From Angus Reid, Clinton trumps Obama, and Giuliani trumps McCain, but both Republicans can beat the Democrats' top three contenders.
The Clinton-Obama Feud and Vilsack's retirement obscured good performances at the AFSCME convention in Carson City, Nevada (except for Junior Moonbeam Dennis).
Stop putzing around, Dems!
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