The first-quarter presidential fundraising reports offer several insights into the race, but perhaps the most intriguing are: John McCain is faltering as the perceived Republican front-runner, and Hillary Rodham Clinton's campaign isn't the juggernaut that her Democratic opponents feared.
The dual messages illustrate the hazards of wrapping a campaign around a sense of inevitability, which can exaggerate any signs of perceived or real weaknesses.
The trip-up for both campaigns Monday was Republican Mitt Romney's announcement that he'd raised $20.6 million. All political observers expected Romney to do well. But his sum was much larger than McCain's reported first-quarter donations of $12.5 million and surprisingly close to the $26 million Clinton unveiled on Sunday.
McCain and Clinton could take another hit later this week when Democrat Barack Obama is expected to grab the spotlight by announcing he has raised more than $20 million, sources say. The Obama camp said it couldn't yet release its figures for the first quarter, which ended Saturday, because the finance team is still counting cash raised at 5,000 house parties on the last day.
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