Ron Paul in better finaicial shape for campaign than McCain

AP/Houston Chronicle:

Ron Paul, the Lake Jackson congressman running a long shot campaign, reported raising nearly $2.4 million from April through June and ended the quarter with a similar amount in the bank.

The total is a remarkable showing for Paul, putting him in a better financial position — with less cash on hand but no debt — than Arizona Sen. John McCain. Paul still barely registers in public opinion polls and raised far less than McCain or the other leading Republicans. But his libertarian views and opposition to the war in Iraq have ignited a fire among nontraditional contributors, particularly on the Internet.

Paul has relied on his debate appearances and on an online network to spread his message. He also spent $120,000 on printing and mailing fundraising letters, his single biggest expense. Overall, he has raised $3 million for the year and spent $646,000.

McCain's presidential campaign reported spending more than it raised from April through June, leaving him financially strapped with $3.2 million cash on hand and a $1.8 million debt.

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The story gives data on the other candidates also. Despite his "financial advantage" at this point, Paul does not have sufficient funds to pull him out of the * category of candidates, while McCain has the name recognition and the media attention that will permit him to struggle on for a while and see if he can't relight the fire. Paul has a passionate but small base who support him in internet polls, but they have had little impact in none self selected polls.