The Democrats are raking in the cash. The Democratic presidential candidates have erased and reversed Republicans' historic edge in raising money for campaigns, reflecting growing enthusiasm among Democrats and adding to the GOP's already considerable burdens going into 2008.
Two Democratic candidates-Illinois Sen. Barack Obama and New York Sen. Hillary Rodham Clinton-shattered previous quarterly fundraising records in the three-month period that ended Saturday. Obama raised $31 million for his primary campaign, while Clinton raised $21 million; both figures broke the previous record for a Democrat's best fundrasing quarter this early in the election cycle.
Meanwhile, underscoring the financial woes the Republicans face, Arizona Sen. John McCain bowed to the financial pressures facing his campaign Monday by announcing staff layoffs and pay cuts for top campaign officials. Now, Giuliani and Romney aren't nearly in as bad a shape as McCain, but it underscores an inescapable political truth: whoever wins the Republican nomination will have to face a Democratic candidate flush with cash and advertising dollars. It will be another uphill fight for the GOP, but they brought it upon themselves. Change sells, not staying the course.