The Green Zone
McCain's Burn Rate Shoots Up
By Matthew Mosk
Republican Sen. John McCain spent more money in June than he took in, a sign that his campaign began undergoing a major expansion last month, according to the monthly campaign finance report he filed with the Federal Election Commission last night.
McCain raised $22.2 million in June, his best fundraising month of the campaign. He also spent more than he had previously, doling out $27 million for such expenses as television ads, campaign consultants, direct mail fundraising and the massive travel costs associated with the construction of a national field operation, the report shows. He finished the month with $26.8 million in cash on hand, and about $1.4 million in outstanding debts.
McCain also doubled the amount in his general election compliance fund -- a separate account he established to help pay legal and accounting expenses during the general election, when his campaign will be financed by $84.1 million in federal funds. He started June with about $4 million in the account, and ended the month with about $8 million in it.
Democratic Sen. Barack Obama announced earlier in the week that he raised $52 million in June. His full report indicating his rate of spending is due to the FEC by Sunday night.
Posted at 10:47 AM ET on Jul 19, 2008
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