Politics

George W. Is A $50 Million Man

By CBSNews.com staff CBSNews.com staff

August 31, 1999 / 2:06 PM EDT / CBS

The race for the White House has begun with a race for campaign cash. The latest tally shows Texas Gov. George W. Bush far and away the leader with an all-time record war chest of nearly $50 million.

CBS News Special Correspondent Gloria Borger reports that some of the other Republican presidential candidates argue that Bush has to be careful because he's in danger of becoming better known for raising money than his ideas.

But the advantages to this money clearly outweigh the liabilities, and the candidate knows it.

"I know there are some who are talking about my capacity to raise money, particularly some opponents. I would suggest that if you ask them, they would like to trade places," Bush says.

In fact, some Bush staffers are surprised at how easy it's been -- and they say it's partly due to a strong anti-Clinton sentiment among Republicans who have picked Bush as their best hope to win back the White House. As for Bush, he wants to make sure he can match a wealthy opponent like Steve Forbes.

No presidential candidate has ever raised this much money. Think of it this way: George W. Bush has so far raised $10 million more by himself than President Clinton and Bob Dole raised combined at this point in the race four years ago.

But it's not even Labor Day, and the other Republicans haven't given up. John McCain is still chairman of the Senate Commerce Committee which helps him raise money. And Elizabeth Dole's campaign says she's tapping new sources, like women. And don't forget Steve Forbes, who can always write himself a check.