The EFM Feature

POLITICO’s Jonathan Martin writes about Gov. Romney’s impressive showing, and interprets McCain’s disappointing numbers for us:

McCain raised just $12.5 million in the first three months of 2007, a figure that prompted the campaign to include a statement in their press release by campaign manager Terry Nelson admitting that they “had hoped to do better in first quarter fundraising.”
“We are already in the process of taking the necessary steps to ensure fundraising success moving forward,” added Nelson.
Taking third place will do considerable P.R. damage to the once-front-running McCain, but even more serious could be the number his campaign, like Romney, chose not to release: cash on hand.
McCain hasn’t been on TV yet, but rumors about the depth and breadth of his staff and consultant payroll have already become legend in the chattering classes. Such overhead has helped McCain lock up key early endorsements and get boots on the ground in the kick-off states, but the money he’s spent to do so could make his $12.5 raised figure look even worse.

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