Ron Paul’s ‘money bomb,’ records and lessons

Ron Paul’s ‘money bomb,’ records and lessons

Baltimore Sun

November 6, 2007

Ron Paul, the libertarian/Republican/anti-Iraq-war candidate for president, has declared “a day for the record books.”

His claim – that the congressman from Texas has raised over $3 million in one day of online fundraising, a record – might be outdone in the record books only by Paul’s election as president.

That so many people have invested so much in someone who stands such little apparent chance of winning his party’s presidential nomination, let alone the White House, speaks volumes about alienation in modern American politics.

It is the same alienation that once handed H. Ross Perot close to 20 percent of the presidential vote. It is the same alienation that handed Ralph Nader just enough of the vote to deny Democrat Al Gore an Electoral College victory to accompany his popular-vote majority.

It is people voting for someone other than the establishment, odds be damned.

Paul already had raised a stunning $5 million in the last quarter, and he has set a goal of $12 million for this final quarter of the year. And, according to his campaign Web-site, Paul raised more than $3.1 million in 19 hours on Monday, marking the single largest fundraising effort of the 2008 election cycle.

As of 4 pm, the campaign maintained, it had raised $2.7 million, surpassing the record for the largest online presidential primary fundraising effort in a single day, and by 6:30 pm, the campaign said it had surpassed Republican Mitt Romney’s $3.1 million record for single-day fundraising this year. This morning, the Web-haul was reported at $3.8 million-plus.

If Paul can pull $3 million in a day, $12 million in a quarter should be a piece of cake — but a cake only lasts so long.

In one day, the Paul campaign asserts, more than 35,000 supporters had contributed to the building of the “money bomb.”

This is the bombshell which Paul suggests he needs to convince “the mainstream media” that he is a real candidate.

There’s one problem with this financial calculation. There are only so many times that the same 35,000 people can contribute – an equation which Democrat Howard Dean encountered, in somewhat larger numbers, albeit with the same ultimate result, in 2004 — and it’s unlikely that all of them live in Iowa, or in New Hampshire, where money might translate into the votes necessary to catapult someone into the second stage of the primaries.
Dean ran up record-breaking fundraising tallies in his upstart — and also anti-war — campaign for president. But his campaign was undone literally overnight by an under-performing turnout in the Iowa caucuses, and finished off with his own scream heard ’round the world.

Self-styled “maverick” John McCain set a one-day record of $1 million following his stunning upset of Texan George Bush in the New Hampshire Republican primary election of 2000, only to be run over in South Carolina by the self-styled “reformer with results” – who, as it happens, did establish a fundraising record for presidential campaigns in 2000 along with his Nader-assisted election victory.

At the end of the day, Paul’s contributors will be satisfied with their statement about an electoral system that does not, for the most part, speak to their interests.

Paul campaign spokesman Jesse Benton, calling Paul’s contributors “diverse,” has attempted to define the “Ron Paul coalition.”

It is “the Old Right,” people whom he describes as Robert Taft and Barry Goldwater Republicans, gun-rights advocates – he calls Paul “probably the strongest supporter of Second Amendment rights in the Congress” – progressives who want to end the war and are “sick of what they’re getting from the Democrats,” and social conservatives who oppose abortion – Paul says it’s not enough to overturn Roe v Wade; he wants a constitutional amendment taking abortion out of the purview of the federal courts.

But most of all, it’s people who look at the current field of leading presidential candidates, second-tier presidential candidates and even third-tier presidential candidates and say, none of the above.

And there may well be big money to be raised, indeed record money, outside the walls of the major parties’ castles. Paul is proof.


Ron Paul For President TV Ad


Jack Cafferty on Ron Paul’s Big Haul


November 5th on CNN – Situation Room Wolf Blitzer

Ron Paul’s ‘$12 Million to Win’ Realtime Donation Banner…72fb6fc2b54ae4e

Ron Paul, the Expatriate’s Patriot

Ron Paul On Course To Raise Millions In One Day

Why the Revolution will not be televised

Paul raises more than $4.2 million in one day

Spambots Don’t Send Imaginary Cash

Deluge of spam may have been sent by someone trying to make Ron Paul look bad by associating him with spamming…/2007/11/04/AR2007110400026.html

Ron Paul Is Money

CNN to Paul: Alot of people call you a flake


1 Comment so far
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