CNN -- McCain Almost Out Of Cash

Yes, it is true, CNN is reporting that the McCain campaign is nearly out of cash:

CNN has learned the already-dire situation for Sen. John McCain’s presidential campaign has actually gotten even worse, with two sources close to the candidate saying the campaign only has a paltry $250,000 left.

The sources tell CNN that next week the McCain campaign will reveal it has about $1.75 million in unpaid debts, wiping out the $2 million in cash-on-hand the campaign currently has in the bank.

It was not immediately clear whether the campaign debt must be repaid immediately or whether the debt can be paid back over time, including after the presidential campaign ends.

Even though McCain has raised just over $11 million overall in the last three months, his campaign has spent large sums of money, one of the primary reasons for the departure earlier this week of his top two strategists, Terry Nelson and John Weaver.

A McCain spokesman had no comment on the latest financial troubles, which will spark a new round of speculation about the candidate’s viability. Campaign officials are expected to release details about campaign’s financial situation early next week.

$250,000 left, and a campaign season that is extra long this time around. Senator McCain is in a serious spot here. Rudy and Mitt are raising money, hand over fist, Fred is waiting in the wings, and will likely announce his candidacy in August or September (we believe the latter), and he is barely hanging on with his fingertips.

The most intelligent and honorable thing for Senator McCain to do is to end his campaign. Throw in the towel. He had his shot in 2000. This time around was a long shot, indeed. But if it were not clear in the beginning that he had no support from his base, now it is painfully obvious.

Marcie