Holden ahead in race for campaign money

JEFFERSON CITY, Mo. -- Democratic Gov. Bob Holden raised more money than either of his two major potential challengers in recent months and has twice as much campaign cash in the bank as either of them.

Holden's campaign took in more than $623,000 from April through June and had just over $2 million on hand at the end of the period, according to campaign finance reports filed Tuesday with the Missouri Ethics Commission.

The fund-raising efforts put Holden in a fairly good financial position for his 2004 re-election bid, some political observers said, even though his potential opponents also are touting the size of their bank accounts.

Democratic State Auditor Claire McCaskill, who is weighing a challenge to Holden in the August 2004 Democratic primary, reporting raising more than $333,000 during the period. But $125,000 of that came from a personal loan. She had just over $1 million on hand.

Secretary of State Matt Blunt, the likely Republican candidate for governor, reported raising more than $501,000 from April through June, with nearly $914,000 on hand after expenditures.

Incumbent governors typically have a fund-raising advantage this far before an election. And it is rare for incumbent governors to face a serious challenge from within their party.

McCaskill has expressed an interest in challenging Holden because of concerns he could be politically weakened by the economy and budget troubles.

But political scientist Shari Garber Bax, of Central Missouri State University, said Holden's fund-raising figures could dispel part of that theory.

"He is not as weak as a lot of people thought," Bax said. "A lot of people thought his friends were going to shirk him because of the difficult economy and such. But with him coming out with $2 million it suggests that maybe that is not happening."

'Raising their eyebrows'

Yet, Bax said, McCaskill's $1 million bank account "suggests that some people in the political realm are raising their eyebrows and saying they want to look at a different candidate."

Roy Temple, a consultant for the Missouri Democratic Party who works on behalf of Holden, said the governor's fund-raising figures show he is "well-situated" for a re-election campaign while McCaskill's loan indicates she is trying to make things look rosier than reality.

"I don't think this is going as well for her as she wanted to believe it would go," Temple said.

McCaskill's camp countered that Holden's bank account is being inflated because the Democratic Party is picking up expenses on his behalf. For example, Temple's salary is paid by the party, not Holden's campaign.

McCaskill's loan shows that "Claire is putting a personal commitment into her campaign, which is important," said Democratic consultant Steve Glorioso, who was voluntarily fielding calls for McCaskill. "It's always better if you're putting some of your own money in a campaign if your asking other people to put their money in."

McCaskill's campaign said her fund-raising figures are establishing her viability as a possible alternative to Holden.

"I'm frankly overwhelmed by the encouragement I'm getting from Democrats all over the state," McCaskill said in a statement. "As I make my decision, this show of confidence will weigh heavily on me."

McCaskill easily won re-election to a four-year term as auditor last year and could run for governor without having to give up her office.

Blunt, who would have to forgo a re-election bid for secretary of state in order to run for governor, has not officially announced his candidacy but already has set up a campaign apparatus.

Republican Party consultant John Hancock, who works on behalf of Blunt, said "we are delighted to be where we are" in fund-raising, especially since Blunt is not expected to face a serious primary challenge.

"The Democrats have raised about $3 million to fight amongst themselves," Hancock said. "Every penny that Matt Blunt has raised is going to be used to communicate with the whole state."

On their last quarterly finance reports showing money through March, Holden reported more than $1.5 million on hand, McCaskill $739,240 and Blunt $708,456.

Based on that, Holden's fund-raising efforts produced about twice as large of net gain after expenses as McCaskill's or Blunt's -- another sign of his strength, Temple said.