HE THINKS HE’LL WIN
Sen. John Kerry apparently is pretty confident
that he will be the Democratic nominee for President. That is
because he has been taking money from his main presidential primary
fundraising account and stashing it in a secondary account known as
a General Election Legal and Accounting Compliance fund.
While Kerry can spend any or all of the money in his primary
campaign account at any time, his GELAC fund can only be used to
cover expenses in the general election, assuming he wins the
Democratic nomination.
“Either he’s really confident he’s going to win, or he’s playing
very fast and loose with campaign finance laws,” says a campaign
staffer for Sen. John Edwards. “I know he’s
allowed to have a GELAC fund, but I don’t think it was intended to
be used the way he is using it.”
Kerry appears to be using the GELAC fund to siphon off money
from those contributors who have reached the $2,000 campaign limit.
Once those monies have been placed in the GELAC fund, Kerry is able
to turn to those donors again for an additional $2,000, which is
then deposited in the account used for the presidential primary.
Kerry cannot touch the GELAC fund until he wins the nomination, and
those whose money is in the account would not be able to contribute
again for the general election.
“This is probably the strongest indication we have that he
intends to use his own money to win this thing,” says a Republican
National Committee staffer. “He’s burning his best donors early,
and can’t go back to them again.”
No one in presidential campaign history has opened a GELAC fund
this early. But Kerry staffers say that the GELAC fund is a
perfectly acceptable campaign tool and that every other Democratic
candidate will probably open one soon to ensure there is money that
can be spent during the period between the Democratic convention
and the Republican convention almost a month later in early
September.
“There is always that down time when campaigns are struggling
for money leading into the fall race,” says a Democratic National
Committee staffer. “The GELAC funds are critical to keeping us in
the public view before federal financing can kick in in the
fall.”
Kerry would be able to use his and his vice-presidential
choice’s GELAC funds in that period of time, and then if he chooses
announce that he is taking his personal wealth and putting it on
the table for the general election.
SOUNDS OF SILENCE
In the wake of continuing rumors of his Democratic colleagues
jumping off a sinking ship, Dick Gephardt
presidential staffers were leaking word on Wednesday morning that
their boss in fact has received the endorsement of House
Democratic leader Nancy Pelosi, her second in
charge Rep. Steny Hoyer, and Democratic
Congressional Campaign Committee chairman Bob
Matsui.
“In fact, we’re going to have a long list of endorsements in the
coming weeks,” says a Gephardt staffer.
No word yet on when a complete list of names will be released.
But the Gephardt staffer indicated that a full list would be made
available in coming days and a formal endorsement ceremony with
Gephardt’s House colleagues would be held.
Interestingly, no special press conference will be held with
Pelosi or House Democratic leadership, raising the question just
how committed Pelosi is to Gephardt. “I don’t know,” said a House
Democratic Leadership staffer. “It’s not clear to any of us that
she’s overly enthusiastic about this. But he was very generous with
his time and support as leader, and she is grateful to him.”
Now that’s what you call a ringing endorsement.
