Playing Chicken with Money

Matier and Ross has a little item in the Chronicle today about the Democratic primary and the two candidates trying to bleed one another dry of campaign funds. The Westly campaign has been shooting off memos this week about how they are going to be better funded going into the final stretch, with Westly writing 7-figure checks and Angelides not. From the Chron: The question is, which candidate can keep it up? There are about 12 weeks to go until the June primary. Angelides has an estimated $15 million to $17 million in the bank -- and he's already spending nearly $500,000 a month just to pay staff and keep the lights on in his campaign office. Westly, on the other hand, who has funded his campaign largely from his past eBay earnings, expects to report $24 million on hand in his next filing -- including a $2.5 million check that he just anted up himself as a sign he intends to go for broke. "You do the math," said Westly campaign strategist Garry South. "Unless Angelides is going to put in some of his own money, how can he keep spending like that?'' Wishful thinking, insists Angelides campaign manager Cathy Calfo. She says her candidate has a 22,000-strong donor base -- and they are far from tapped out. "We will be able to raise the money we need for television to stay on the air to the end and deliver Phil's message,'' she said. Meanwhile, Arnold just watches from the sidelines without spending a dime -- or getting a scratch.