Money Chase Dominates White House Race

Feb. 28, 2007 — -- The competition for presidential campaign money in the 2008 race is more intense than it has ever been this far before the caucus and primary voting starts.

It is also the most intense aspect of what is already a shockingly competitive contest in both major American political parties to replace George W. Bush in the White House.

The fervent nature of the contest to raise campaign cash is largely hidden from view, making it seem to the casual observer to be less of a focus than television appearances, campaign spats, endorsements and policy pitches.

But behind the scenes, from the candidates and campaign managers, to their staffs and top supporters, the emphasis is on raising as much money as they can, as fast as they can, often to the exclusion of other considerations.

It is one of those political parlor games in which those who know aren't talking, and those who are talking mostly don't know -- meaning who will come out on top is a secret closely guarded by the insiders, who themselves are acting with imperfect information.

And it is a game of expectations, in which even the candidates who are expected to be the best-funded often try to downplay how they will do in order to keep those expectations low and to create a sense of urgency among their supporters, and potential supporters.

Occasionally and somewhat contrary, the campaigns sometimes like to demonstrate a show of force, such as Illinois Sen. Barack Obama, who last week touted his claimed $1.3 million take at a Hollywood fundraiser in order to create a bandwagon effect.

Insiders know that such figures, like much of the fundraising game, is a lot about bluster and indirection.

Most of the fundraising that goes on occurs at events closed to the media and public, or on the Internet, and through the mail or private telephone calls, making it impossible for now to know who is actually doing well, and who poorly.

The central importance of fundraising to the race was brought home when former Iowa Gov. Tom Vilsack left the Democratic contest last week citing his inability to raise the funds necessary to operate his campaign as the sole reason he was shutting down his effort.