Where is Herman Cain's campaign money coming from?
Mitt Romney is collecting from Wall Street. Rick Perry is getting moolah from the oil and gas industry. It's harder to tell much about the donor base of Herman Cain, who is fifth in the GOP fundraising race.
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He has so far raised a total of about $5.3 million in campaign cash, according to the most recent Federal Election Commission figures. That puts him fifth in the Republican money race in this election cycle, behind Michele Bachmann ($7.5 million) and just ahead of Tim Pawlenty ($4.7 million), who’s already an ex-candidate.
True, Cain’s Federal Election Commission reports cover only cash raised through the end of September. It’s possible his October surprise rise to prominence has been equaled by a money surge we just haven’t yet seen.
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But he’s got a long way to go to enter the top tier of candidate riches. Rick Perry has raised more than $17 million, and Mitt Romney has brought in at least $32 million. Plus, both Governor Perry of Texas and Mr. Romney – and libertarian Rep. Ron Paul – are associated with "super PACs," which can raise unlimited funds from deep-pocket donors as long as they don’t directly coordinate with their favored candidate.
Mr. Cain has a political action committee, called the Hermanator PAC. But it’s a plain vanilla leadership pact, which limits how much it can accept from any individual source. It has raised the grand total of $23,602 in the current election cycle, and starts the third quarter with but $2,246 cash on hand. That’s less than the $4,300 Cain paid for “event entertainment” in the third quarter, according to disbursement records.
So where’s Cain’s money coming from? What’s most interesting about the pattern of his fundraising so far is that there isn’t much of a pattern.