Hill's $10 Million - 2 good 2 be True.
Wed Apr 23, 2008 at 08:31:58 PM PDT
The Clinton campaign says it raised $2.5 million online last night in the three hours after the Pennsylvania primary was called, and 80% of that came from new donors. Then, the campaign said it has experienced a crush of new contributions overnight that now totals more than $10 million. Terry McCauliffe said that they had 50,000 new donors and $10 million dollars, then he said they were on track to raise that amount.
I'm not buying it and neither should you.
First of all, why would Hillary not be completly honest about how much money she raised? That's easy, to rest once and for all the question of whether Hillary Clinton will have the resources to compete, A question that has followed her campaign since she first reported loaning herself money.
Micah L. Sifry from TechPresident has a good argument, he says:
If 80% of Clinton's donations are from new givers, that implies a total number of about 60,000 donations. If we're very generous and assume an average donation of $100, which is high for first-time donors, that gives Clinton a current take of at most $6 million.
90% of politics is about perception, and if a campaign is perceived to be running out of money, or floating in money, that affects what other people will think and do about it. Internet-driven fundraising is an amazing thing, because the costs are so low and the speed so seemingly instantaneous. But anyone who reports on it should be careful to remember that the campaigns can easily hype these numbers, and by the time anyone checks for the truth it won't matter.
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