Media is giving heavy play to the news that Sen. Barack Obama raised $50 million in February, while Sen. Hillary Clinton brought in about $35 million. A major theme of the media coverage is that Clinton's total shows her campaign remains vibrant despite recent setbacks. The New York Times reports Obama and Clinton "each had a record-breaking month of fund-raising in February, bringing in more than $80 million combined, but with Mr. Obama again far outraising Mrs. Clinton." Obama's campaign "did not release an official estimate of its February fund-raising on Thursday. But several major donors estimated it to be about $50 million, based on their calculations and knowledge of tallies during the month, when on many days the campaign took in as much as $2 million." The Clinton campaign says it brought in $35 million during the month. The Washington Post reports in a front page story that Clinton and Obama "continued to rewrite fundraising records this month."
The AP says that while Obama's "financial superiority has been evident in the primary states of Texas and Ohio," where "he has purchased $7.5 million in advertising to her $4.6 million," Clinton's haul "more than doubled her January fundraising, when she collected $14 million to Obama's $36 million." Bloomberg News adds that the Clinton campaign Internet director "said that all but $1 million raised by the New York senator's campaign this month could be spent for the primaries."
ABC World News reported, "Clinton says this says a lot about the state of her campaign. Despite all the pronouncements that her campaign is in real trouble, she says Americans are still giving her a vote of confidence, with their wallets." CNN's Election Center reported, "Money is the life blood of any campaign and by that measure Hillary Clinton's campaign is alive and well." The Wall Street Journal says Clinton "got a big boost with her best-ever monthly haul and 200,000 new donors," while the Financial Times said the "recovery in Mrs Clinton's fundraising after a sluggish January highlighted the resilience of her campaign despite falling behind Mr Obama in the race for the nomination." The Washington Times reports Clinton's campaign "portrayed itself as on the rebound yesterday," and The Politico reports Clinton's "infusion of cash means that her campaign is unlikely to suffer the fate that sometimes follows a string of losses: bankruptcy. The money means she can maintain substantial television advertising in Ohio and Texas and, aides said, begin to build operations in the next round of states after March 4."
President Bush waded into the presidential fray in a news conference yesterday, criticizing Sen. Barack Obama's stated willingness to meet with foreign leaders without preconditions and both candidates' comments about NAFTA. The Los Angeles Times reports, "Setting aside his stated reluctance to enter the presidential campaign," Bush "strongly criticized Barack Obama's expressed readiness to meet with foreign leaders cast as tyrants. ... He also challenged Democrats' skepticism about the North American Free Trade Agreement, and reminded Obama that Al Qaeda has been seeking to establish a base in Iraq 'for the past four years.'" The New York Times reports Bush "assailed his willingness to meet Cuba's new leader, Raúl Castro, without preconditions, saying that to do so would grant 'great status to those who have suppressed human rights and human dignity.'"
The AP (2/29) reports, "Bush on Thursday strongly disagreed with Democratic candidate Barack Obama's expressed willingness to meet the leaders of Iran and Cuba. ... In another area of disagreement, Bush criticized the Democratic presidential candidates over their attempts to dissociate themselves from" NAFTA. The New York Times, in another story, says "there was no masking" Bush's "disdain for the Democrats' positions on several hot-button campaign issues." The Washington Post says Bush's "critique resembled that by" Sen. John McCain, "who has been trying to sow doubts in recent days about Obama's fitness to be commander in chief."
The New York Daily News reports that Bush "also offered some unsolicited advice to Obama, when asked about the Illinois senator's recent criticism of Republican front-runner John McCain's support for the Iraq war. 'I believe Sen. Obama better stay focused on his campaign with Sen. Clinton,' Bush said."
Bush Seen As Offering Glimpses Of Coming Campaign Role The Wall Street Journal reports that Bush "gave glimpses of his campaign role to come" and adds that Bush "is likely to step up his supporting role" as McCain secures the nomination. He "is likely to be useful in boosting Sen. McCain among die-hard conservatives, many of whom are lukewarm toward the Arizona senator but remain loyal to the president."
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The Hill reports this morning that Sen. Hillary Clinton's "senior staff sought to reassure donors and supporters Thursday afternoon" telling "about 560 supporters on a conference call that the media has painted an inaccurate picture of a campaign that is losing superdelegates and haunted by low morale." Clinton campaign adviser Harold Ickes "said that superdelegates who had pledged to support Clinton are 'holding,' and that press accounts of superdelegates switching their support to" Sen. Barack Obama "are a 'very rare exception.' 'There is a very strong spirit, and they are holding fast,' Ickes said."
Clinton Aides Snipe At Each Other As Hillary Clinton's campaign has struggles since February 5, much of the blame has been placed on her campaign organization, with the media questioning in recent weeks both the campaign's message and its heavy spending on consultants. In reports today, strife between some of her top personnel came out into the open. The New York Observer reports that top Clinton advisor Harold Ickes yesterday laid responsibility for the campaign's strategy squarely at the feet of pollster Mark Penn. Ickes said, "Besides Hillary Clinton, he is the single most responsible person for this campaign." Ickes rebutted assertions that the campaign was "run by committee," saying, "I don't know what campaign you're talking about. I have been at meetings where he introduces himself as the campaign's chief strategist. I've heard him call himself that many times, say, 'I am the chief strategist.'" The New York Daily News reports that Penn hit back, saying, "Every single expenditure is reviewed and approved by the campaign, by Harold Ickes and his team, one by one. I have absolutely no budget authority or any administrative control."
The New York Times yesterday raised questions about whether Sen. John McCain met the constitutional requirement that the president be a "natural-born citizen," noting that he had been born in the Panama Canal Zone while his father was stationed there with the Navy. McCain yesterday got some unexpected help in that quarter. McClatchy reports Democratic Sen. Claire McCaskill "might be pitching for Team Obama in the presidential campaign, but she went to bat Thursday for its potential rival." McCaskill "went to the Senate floor to try to remove any cloud of constitutional doubt that" McCain "is eligible to serve as the president of United States." McCaskill said Congress "could remove any doubt by quickly passing a measure that she'd penned in longhand on a legal pad after huddling with her staff." The New York Times reports McCaskill said, "In America, so many parents say to their young children, 'If you work hard and you play by the rules, in America someday you can be president of the United States.' Our brave and respected military should never have to spend a minute worrying whether or not that saying is true for their child."
McCain Says Issue Already Resolved NBC Nightly News reported McCain yesterday "told reporters that the question of his birth place, the Panama Canal Zone, is not an issue in this campaign." The McCain campaign "got a legal opinion from former US Solicitor General Ted Olson who said because McCain, the son of a Navy admiral, was born to American parents on a US military base, he is clearly a natural born American citizen."
The Houston Chronicle reports that Sen. Barack Obama "appears to be consolidating a lead" over Sen. Hillary Clinton "among most constituent groups in Texas except Hispanics, according to a new tracking poll. The survey found Obama leading 48.2 percent to 41.7 percent over Clinton statewide." The Zogby International survey was conducted Feb. 26-28. On the GOP side, Sen. John McCain leads with 53.4%, followed by Mike Huckabee with 26.8% and Rep. Ron Paul with 10.7%.
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At a news conference yesterday, President Bush offered measured optimism about the course of the US economy. While Bush ruled out supporting a second stimulus bill to aid the housing market, he appeared thrown by a reporter's question about the possibility of $4 per gallon gasoline. The AP reports the President "said Thursday the country is not recession-bound and, despite expressing concern about slowing economic growth, rejected for now any additional stimulus efforts." Asked about possible $4 gas, Bush said, "That's interesting. I hadn't heard that. ... I know it's high now." The Wall Street Journal notes the President also "took aim at Congressional proposals to help struggling homeowners, saying a Senate bill would provide an unnecessary bailout for lenders and speculators."
Coverage of Bush's assurances on the economy was generally skeptical if not outright negative. USA Today reports that Bush "said Thursday the economy is not headed for recession" and "expressed surprise when told of news reports that gas prices could soon top $4 a gallon." The Los Angeles Times, in a front-page story titled "$4 Gasoline? It's News To Bush," notes Bush said "he was unaware of predictions by some analysts that gasoline could reach $4 a gallon by this spring because of strong demand and reformulation." The Financial Times reports the President's remarks on the Democratic housing bill "reflect the widening rift between his administration and Congress over the government's response to the housing crisis."
All three networks also gave prominent play to the gloomy economic news, with NBC and CBS leading their broadcasts with it. Gloom in the stock market and the stated expectation of bank failures by Fed Chairman Ben Bernanke also drew ample coverage. ABC World News reported, "Government figures out today show the economy at near standstill." The CBS Evening News said "Bush continues to insist that the picture is not really that bad," while NBC Nightly News reported, "Bush declared this country is not in a recession, though a good many Americans will no doubt disagree with that."
Meanwhile, the AP reports Treasury Secretary Henry Paulson "said Thursday that many proposals being put forward to deal with the housing slump would do more harm than good." His Chicago remarks "represented the strongest administration objection lodged so far to a variety of proposals being pushed by Democrats in Congress to do more to help." The Washington Times also cites the Paulson assertion "that 93 percent of all mortgages are being paid on time and that less than 2 percent are in foreclosure."
The Washington Times reports, "Senate Republicans yesterday blocked a Democratic bid to expand protections for homeowners facing foreclosure, saying the move would lead to higher interest rates during an economic slowdown and encourage excessive litigation." The Washington Post reports "the vote capped a week of parliamentary gridlock in the Senate." Sen. Dick Durbin mocked the GOP's economic plans as coming from the "Herbert Hoover playbook," but "Republicans argued that the Durbin provision would wreak havoc on the housing market." Durbin's "proposal includes billions of dollars for local communities to buy up subprime mortgages and a controversial rewrite of bankruptcy laws to allow judges to slash interest rates for low-income homeowners."
Borrowers Walk Away From Homes The New York Times reports on its front page on a "small sign of broad changes in the way many Americans look at housing." Foreclosure has become the first option for a number of homeowners suddenly faced with mortgage debt greater than the market value of the house. They effectively transfer the problem of paying for a house to the bank by simply walking away from the home and mortgage, which one expert described as essentially renting from the bank.
The Wall Street Journal also reports about defaulting borrowers: "Growing numbers of borrowers are winding up owing more on their homes than the homes are worth, raising concerns that a new group of homeowners -- those who can afford to pay their mortgages but have decided not to -- are starting to walk away from their homes."
Amid yesterday's news that the US economy grew by only 0.6% in the final quarter of 2007, media outlets fastened on Fed Chairman Ben Bernanke's prediction that some banks would fail. The AP reports, "The economy is in turmoil, yet...Bush and...Bernanke say the country will weather the storm. Neither sees a recession on the horizon. ... Bush and Bernanke acknowledged the dangers Thursday." However, during congressional testimony on the economy, Bernanke commented, "I expect there will be some failures" of banks, causing "a shiver through Wall Street. The Dow Jones industrials sank 112.10 points."
The Financial Times reports, "Some small US banks are likely to fail in the months ahead...Bernanke said on Thursday, warning that his country faced a more difficult situation today than in the aftermath of the dotcom bust in 2001." The Wall Street Journal, AP, and New York Times run similar stories. The Washington Times says Bernanke "provided his gloomiest assessment of the economy to date and came after the government reported that economic growth approached zero at the end of last year."
The Washington Post, meanwhile, reports on the front page of its Business section, "The economy is not close to a 1970s-style mix of stagnant growth and high inflation...Bernanke said yesterday." Bernanke "repeatedly made it clear that he believes the greatest risk facing the economy is slow growth, not high inflation." The Wall Street Journal also reports that Bernanke "rejected suggestions the U.S. could get stuck in" 1970s-style stagflation. The Financial Times also reports the story.
The New York Times reports House Speaker Nancy Pelosi "asked the Justice Department on Thursday to open a grand jury investigation into whether President Bush's chief of staff and former counsel should be prosecuted for contempt of Congress." USA Today reports Pelosi "demanded that the department pursue misdemeanor charges against [former counsel Harriet] Miers for refusing to testify before Congress about the firings of federal prosecutors in 2006, and against [Chief of Staff Josh] Bolten for failing to turn over White House documents related to the dismissals." The Politico reports the Justice Department "has taken the position that criminal charges cannot be brought against an executive branch official who refuses to comply with a congressional subpoena once the president invokes executive privilege."
In a story that's sparking extensive media attention, a new study has found that over 1% of adults in the US in currently in jail. ABC World News reported, "With 2.3 million adults locked up, a report today shows, one in every ninety-nine adults is in prison. For Hispanics, it's one in thirty-six. And among African-Americans, the number is one in every fifteen adults." The CBS Evening News said "states are spending nearly fifty billion a year on corrections, up from about eleven billion twenty years ago, an increase of 127%. Over the same period, state spending on higher education increased just 21%." NBC Nightly News also reported on the "shocking new number," adding "the numbers are especially striking among minorities." The New York Times, Washington Post, and Wall Street Journal, among other media outlets, also report on the study.
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Jay Leno: "Well, this is depressing. Oil is now over $100 a barrel. Experts say gas could reach $4 a gallon, yeah. I believe the experts are named Bush and Cheney."
Jay Leno: "See, you know, I don't think President Bush really understands the impact this has on the average American. Like, today, when they told him people would be paying $4 a gallon, he said, 'Why don't folks just buy half a gallon? And then with the money you save, you could buy the other gallon. You see what I'm saying?'"
Conan O'Brien: "'The New York Times' just reported that John McCain may be constitutionally barred from becoming president because he was born outside the United States in the Panama Canal Zone. Yeah. Yeah, when he heard this, McCain said, 'That's ridiculous. When I was born, there was no Panama Canal.'"
Conan O'Brien: "During a press conference today, President Bush said the following. He said it's important we make the economy stronger so 'families can put money on their tables.' Yes, then Bush said that Americans 'should deposit food in their bank accounts.'"
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