Jim Gilmore Drops Out of Republican Race

Washington, DC (TLS). Former Virginia Governor Jim Gilmore announced today that he is dropping out of the race for the Republican Presidential nomination.

Citing money woes, Gilmore stated that there was not enough spendable cash to sustain the campaign.

Gilmore is surely to be merely the first in a string of candidates who will announce their departure. The most high-profile of these is John McCain who, despite the insistence that he will fight on, is facing his own money woes. Others who are in dire financial straits include Democrats Mike Gravel and Dennis Kucinich, and Republicans Tommy Thompson and Tom Tancredo.

In addition, while Democratic Senator Joe Biden has done well in the debates, he has not exactly set the woods on fire with fundraising. While we believe that Biden is a serious candidate, we look for him to decide to stay in the Senate rather than continue with a campaign that so far is appearing lackluster.

The impending entry of former U.S. Senator Fred Thompson into the race will definitely change the entire makeup of the campaign. Sources inform us that Thompson is already poised not only to be the front-runner but the top fundraiser as well, right out of the starting gate.

Republican and Independent activists with deep pockets have either already committed or will commit to giving the candidate large sums of money that will not only rival but surpass the campaign cash raised by Rudy Giuliani.

Meanwhile, Ron Paul continues with his grassroots surge, raising 2 million in the last three months, mainly from online contributions. We see his prospects continuing to improve as time progresses.

Something to think about--perhaps Ron Paul's 'ace in the hole' is his stance against the War in Iraq. Among Republicans not only is this rare but it is seen almost as anathema.

However, given the present mindset of the electorate as a whole, independents, libertarians, and disenchanted Democrats may well come flocking to the Ron Paul campaign because of the War.

And this is not to mention the fact that many conservative Republicans, though openly castigating Paul on his stance on the War, privately express delight over his emphasis on the return to core conservative values, such as small government and low taxes.

The Liberty Sphere still puts its money on Fred Thompson, although we like Duncan Hunter and Ron Paul.

But as they say in politics, it really is getting interesting out there, isn't it?