David Yepsen, False Prophet of Doom
In his column in today’s Register, David Yepsen sees Tom Vilsack’s departure as a bad sign for the caucuses. Now the first primary is not Iowa but the invisible primary of fundraising. Now a candidate needs to raise a lot of money to compete and if they can’t, they will be forced to drop out. Yepsen sees a scenario where “by Labor Day, there may be only three or four viable candidates in each party.” This is all baseless fearmongering.
First, there’s a long precedent of candidates dropping out early because they can’t raise money. If David Yepsen wants some examples, from 2000 alone, I’m sure that Lamar Alexander and Elizabeth Dole could have told Yepsen that, if not a couple of others. But Vilsack’s the only candidate, at least on the Democratic side who won’t be able to raise money. Of the three second tier candidates remaining, Joe Biden, Chris Dodd and Bill Richardson all will have ample financial resources. Both Biden and Dodd are Senate Committee Chairs and Richardson is the former Chairman of the Democratic Governors Association. All three are national political figures to a much greater extent than Tom Vilsack and should be able to raise considerable amounts of money. They all should have more than enough money in the bank to be competitive into 2008. (Provided, of course, that they do a better job budgeting than Vilsack did.) Yepsen is falling into the common tendency among columnists to draw as grand conclusions as possible from events. Vilsack’s dropping out is not indictative in and of itself of some major new trend. He just couldn’t cover his payroll, and one should be careful drawing larger conclusions than that.
1 comment February 27th, 2007
