NYers giving less to presidential campaigns

WASHINGTON -- What a difference four years makes.

At this time in 2007, then-Sen. Hillary Rodham Clinton (D-N.Y.) and former New York City Mayor Rudy Giuliani, a Republican, were leading a crowded field of presidential hopefuls -- and New Yorkers were pouring record amounts of cash into an exciting, high-profile contest.

But this year, with no Democratic presidential primary, no New York candidates, a struggling Republican field and a stagnant economy, New Yorkers haven't shown the same enthusiasm -- giving only about a fifth as much to presidential campaigns.

Among some New York political players, there's even a hint of nostalgia for the 2008 election, not only for the Clinton and Giuliani campaigns, but also for another stark reality.

"Four years ago, people actually had money," said Jay Jacobs, of Laurel Hollow, a top fundraiser and chairman of New York's Democratic Party. "A lot of the people who gave four years ago are now broke. Unless you are really particularly fortunate, you cannot give quite as much."

Campaign finance reports recently filed by President Barack Obama and a dozen Republican hopefuls show a steep drop in contributions to presidential campaigns this cycle, compared with the last.

By this time in 2007, the presidential candidates had raised a combined total of $49 million from individuals in New York state, including $6.3 million from Long Island.

So far this year, the current presidential candidates have collected only $10.8 million from New York, including $1 million from the Island.

It's part of a national pattern: Presidential hopefuls raised $420 million across the country by this point in 2007, but candidates this year raised less than half that amount, $174.7 million.

Campaign finance experts predicted that once Republicans settle on a candidate, the presidential campaigns can catch up with and even pass the 2008 fundraising totals.

Still, political analysts said the 2008 election was unique.

It was the first in five decades without an incumbent or vice president in the race. Big-name candidates drove up donations. Obama broke precedent and opted out of federal financing. The FEC said presidential campaign and convention receipts rose 80 percent.

"It was a wide open field with strong fundraisers from both sides," said Sheila Krumholz, executive director of the Center for Responsive Politics, a nonprofit that tracks campaign money.

Eight Democrats were running at this point in 2007. They raised $244.7 million nationally. Clinton led with $91 million. Obama had $80.3 million.

"Hillary Clinton was drawing a heck of a lot of money, particularly out of Long Island and New York," Jacobs said.

The nine Republicans running raised $175.4 million nationally in 2007. Mitt Romney led the pack, putting in his own money to push his total to $62.8 million. Giuliani tapped New York to raise $47.3 million, including $1.5 million of the $2.5 million Long Islanders gave in the GOP race.

"Giuliani was always more popular on Long Island than he was in New York City," said Michael Dawidziak, a Republican political pollster in Bohemia.

This year, Obama is the only Democrat running, and none of the 10 Republicans in the race has yet to break out in the lead.

Obama may be a sitting president, but his $90.1-million national total this year is less than Clinton's 2007 total.

An aide said one reason for the lower total is that Obama canceled several fundraisers during the July standoff over the debt ceiling. Krumholz added another possibility, "Obama is beleaguered in the polls."

On the Republican side, Romney leads this year with a national haul of $32.5 million, trailed by latecomer Gov. Rick Perry of Texas, who quickly raised $17 million.

Fundraising by current GOP hopefuls is down by half, in part because this year's race didn't start as early as that in 2007 and Romney hasn't self-funded.

"The larger dynamic of the Republican race is that nobody has taken off," said Michael Malbin, executive director of the nonprofit Campaign Finance Institute, which analyzes money in politics.

The GOP establishment favors Romney, but polls show most Republicans back others, and many donors are "holding off" to see who emerges as the top candidate, Malbin said.

"There is no excitement about this race in New York," he added.

Looming over all those differences is the economy. Malbin said 2008 was "the last election before the bubble burst. A lot of wealth disappeared, especially in New York."

And it's affecting many longtime Long Island donors.

"Do you know how many people that I used to call who had money with [convicted Ponzi schemer] Bernie Madoff and took such a hit?" he said. "They're not in a position to give with the same generosity."

Jacobs said he has to work harder to raise political money. "Where people used to buy tables at functions, now they buy a ticket," Jacobs said.

Nassau County Republican Committee Chairman Joe Mondello agreed, saying, "My fundraising has been doubly hard."

But Krumholz said presidential campaigns always raise more money than in the last election, since contributions limits rise every four years: "We always set records. It's whether we blow away the record, or just top it."