Hillary Nabs Millions As Deadline Nears

With the first-quarter deadline for presidential fundraising just five days away, Hillary Clinton has hit a new high, raking in more than $10 million in just one week, the New York Daily News has reported. At a celebrity-studded Beverly Hills fundraiser at the home of billionaire Ron Burkle on Saturday, Clinton reportedly took in $2.7 million.

Strategists from both parties predict the 2008 campaign could cost each major party's nominee $500 million.

Republican presidential hopeful John McCain is lowering fundraising expectations, just days before the first money deadline that will provide a clear sign about which candidates are viable — and which ones are not.

During a bus tour of New Hampshire's rural North Country, reporters asked McCain about the ever-important money race, in which donations translate into credibility.

"We started late, our money raising, and we're going to pay a price for it because we got off to a late start," McCain said Saturday between campaign stops. "I enjoy this kind of politics more than I enjoy raising money."

McCain's admission is surprising for a top-tier GOP candidate. Rivals have been racing from fundraiser to fundraiser to show they have the millions for a presidential bid.

Former Massachusetts governor Mitt Romney will also likely fall short of the $30 million to $35 million figure being floated about Washington by some of Romney's allies, the political newsletter The Hotline reports. A Romney fundraiser with access to the campaign's daily fundraising tallies told the Hotline that Romney won't raise more than $20 million. Romney did, however, raise $6.5 million in a single day in January. He has already purchased $800,000 in television air time.

McCain said he has no idea what kind of cash the other campaigns will offer. The Arizona senator has hosted only four campaign fundraisers since forming the exploratory committee in December. The campaign said he has about 40 scheduled before the start of May.

McCain argues there's still time left in the current Federal Election Commission reporting period that ends March 31. He plans a last push, but his staff declines to offer any predictions.

"This is a campaign that is focused on winning the nomination, and fundraising throughout the entire year is an important part of that," said spokesman Danny Diaz. "We're focused on building an organization in the critical states so we can communicate the senator's conservative message to voters on his behalf."