As the war in Iraq continues, and President Bush continues to evolve his legacy, the race to be the next President is gaining ground. Right now the frontrunners appear to be Hilary Clinton, Barack Obama, Mitt Romney, and former New York mayor Rudy Giuliani. Many of the current candidates have spent huge sums of money in their campaign efforts. After nine months of fundraising, the candidates for President in 2008 have already raised about $420 million. This money chase seems to be close to an unprecedented pace to reach $1 billion total by the end of the campaign. By some predictions, the eventual nominees will need to raise $500 million apiece to compete-a record sum.
To find out where all this money is coming from, take a look at the year-end reports due to the Federal Election Commission by Jan. 31. According to FEC campaign financing reports filed by Oct. 15, Hillary Clinton, Barack Obama, Mitt Romney, and Rudy Giuliani have all raised more than $45 million, with Hillary Clinton topping the list with $90.9 million. Many more millions of dollars have gone to other candidates; John McCain, John Edwards, Bill Richardson, Chris Dodd and Fred Thompson have all raised more than $10 million.
With the Democratic platform there is Hilary Clinton or Barack Obama. Clinton, former first lady to Bill Clinton, has made a strong case to be the first female President. Obama and Clinton appear to be the front runners on the Democratic side.
Mitt Romney and Rudy Giuliani appear to top the Republican race. But, in actuality, more than 50 candidates are currently running for President of the United States, fighting for a chance to represent their party and spending an absurd amount of money on political advertisements in the process.
On Oct. 15, candidates filed spending reports to the Federal Election Commission (FEC), revealing the high cost of campaigning, as aleady mentioned. While many of the bigger candidates have made headline news, many of the smaller campaigners have reached some noteworthy milestones.
Right now the 2008 presidential race is shaping up a little more clearly. The real battle for the Democratic nomination is obviously in Iowa. Clinton is the clear front runner nationally, but the race is much closer there. Barack Obama and John Edwards are both within realistic striking distance. Stopping Clinton from winning Iowa is paramount for both campaigns because her lead in other states is more solid.
Right now the race seems to be a tight one with no certain winner on either side. But maybe we will have a clearer picture in over 30 days.