Money Maestro McAuliffe Hopes To Raise At Least $65M For Clinton In 2007

Terry McAuliffe has come a long way since he started his own business at age 14, sealing driveways with hot tar in Syracuse, N.Y. He became a wealthy man and a fabled political fundraiser, chairman of the Democratic National Committee, close pal and golfing buddy of Bill Clinton, and, lately, chairman of Sen. Hillary Rodham Clinton's presidential campaign.

He is on a 25-city tour promoting his new book "What a Party! My Life Among Democrats: Presidents, Candidates, Donors, Activists, Alligators, and Other Wild Animals". McAuliffe tells our Kenneth T. Walsh that raising money will be more important than ever in the 2008 race because everything has gotten so expensive and competitive.

It will take at least $35 million to $50 million for a candidate to "get into the game," he said, but he isn't taking any chances. McAuliffe told us he aims to raise at least $65 million to $75 million for Senator Clinton this year.

By Paul Bedard