From our friend over at Nasty Letters...
"In the crucial test of political fund-raising, Peter King flunked out this quarter. He reports a low $99,005 in receipts, with $115,700 spent, for a grand ANEMIC total of -$16,695. That's right, he LOST MONEY this quarter!
Granted, some of the expenses doubtless relate to tying up the '06 Campaign. But still, for a newly competitive district, King did not raise impressive numbers this quarter. Perhaps most significantly, he currently has only $287,090 Cash on Hand. At this point in the last election cycle, King was showing $776,990. In other words, he's down $489,900 from this time two years ago, or nearly $500 K.
From a progressive standpoint a strong challenge to King, such as a Dave Mejias rematch, can go head to head on fund raising. King's '06 victory, despite being down in numerous polls, can at least partially be attributed to his 2 to 1 spending advantage; he spent over $2.1 Million in the '06 Cycle. This time around, unless he ups his game hardcore, he won't be so lucky."