NY13 Blog; Retaking NY-13 from Rep. Vito Fossella

Following the corruption, ineffectiveness and hypocrisy of Rep. Vito Fossella.

Friday, January 04, 2008

Fossella in Financial Trouble and Denial, part III

Today we are focusing on Rep. Fossella's burn rate of the minimal cash he is bringing in. While his fund raising rate is well below where he wants to be, the bigger problem is he is spending most if not all of it. In fact he spent more money than he raised in the last quarter. So far a lot of his expenditures are going to pay down his outrageous debt he incurred in his election against Stephen Harrison, which reinforces us running strong candidates every election (not just after redistricting).

Below is a chart of non election year expenditures by Rep. Fossella's campaign for the past three cycles. It is broken down per quarter per cycle. Notice that so far Q2 and Q3 have had the highest rate of expenditures in any of his non election years. Once we see his Q4 filings we will see if this trend of cash burn continues. If so, yet another sign that Rep. Fossella's campaign is in more trouble than he will admit.

as noted in the previous segment, up until 2001 FEC financial reports were done twice a year so comparisons on a quarterly break down are not available

As I have been saying Rep. Fossella needs to report at least $200,000 in contributions in his Q4 filing (due out in about a week). But when we look at increasing burn rates still four quarters from the election (he spent $150,000 last quarter) raising $200,000 will barely equate to any actual saved cash for his campaign and mean his campaign is in more trouble than he is admitting (or realizes).

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