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Giuliani tops Romney, McCain in quarterly fundraising

  • Story Highlights
  • Giuliani takes in $17 million in second quarter
  • McCain campaign cuts staff after seeing recepits fall
  • Romney's fundraising falls, but still second to Giuliani
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From Mark Preston
CNN Political Editor
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WASHINGTON (CNN) -- Former New York Mayor Rudy Giuliani brought in $17 million in campaign funds in the past three months, topping his two leading GOP rivals in fund-raising for the quarter, the Giuliani campaign announced Monday.

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Former New York Mayor Rudy Giuliani raised $17 million in campaign funds in the second quarter.

Receipts also indicate Senator John McCain's 2008 presidential bid may be in trouble.

Massachusetts Gov. Mitt Romney announced he had raised $14 million in the same time period and had lent his campaign an additional $6.5 million of his own money.

Romney's campaign said the $14 million raised was all for the GOP primary campaign, while a Giuliani campaign aide told CNN that $15 million of the former mayor's take can be spent on the primary.

Meanwhile, McCain's campaign announced staff cuts Monday after seeing fundraising skid from $13 million to $11 million in the past three months. A McCain aide told CNN that all but $850,000 of the $11.2 million was in primary donations. Video Watch why McCain is behind »

Giuliani's take was nearly $2 million higher than his first-quarter receipts, when he trailed Romney. Giuliani had more than $18 million remaining in the bank by the end of June, campaign manager Michael DuHaime said.

"We are thrilled by our fundraising this quarter and are running a strong and efficient campaign. We are well positioned to win both the primary and the general elections," DuHaime said in a written statement announcing the results. "We are serious about being good stewards with the money that has been entrusted to us."

Giuliani led many early polls of the GOP field, with Romney and McCain rounding out the top tier of candidates in both money and polling.

Romney's fundraising fell by nearly $7 million after a $21 million first quarter. But the campaign had $12 million in cash left on hand, compared to just $2 million for McCain.

Stuart Rothenberg, editor of the non-partisan Rothenberg Political Report, noted that while Giuliani and Romney lead the GOP pack in fundraising, raising money is not the sole measure in predicting who is going to win a presidential nomination.

"I think the numbers reflect a showing of which candidates have some momentum and are generating the greatest excitement and interest," Rothenberg said. "But ultimately the Republican and Democratic races are about Iowa, New Hampshire and appealing to primary voters and caucus voters. Money is only a part of each of these campaigns."

Among other candidates, former Wisconsin governor and Health and Human Services Secretary Tommy Thompson touted "strong growth" in his second-quarter receipts. Thompson's figures grew from $328,000 in the first quarter of 2007 to more than $473,000 in the second.

"We are certainly pleased at the strong growth in our fundraising. We've kept our overhead low and maintained a disciplined budget," Thompson said in a statement released by his campaign. "To date, we're able to run a campaign equal to that of the better funded candidates despite the differences in funding."

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None of the other GOP contenders had posted numbers Tuesday. The candidates have until July 15 to report their fundraising and spending to the Federal Election Commission.

Former senator and "Law and Order" actor Fred Thompson, who has begun testing the waters for a presidential bid, did not have to report results because he has not yet been declared a candidate. His fundraising committee is incorporated in his home state of Tennessee. E-mail to a friend E-mail to a friend

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