The Republican National Committee raised just over $5 million in February and cut spending by roughly 40 percent as compared to the first month of the year, according to figures released by the committee this afternoon.
The RNC collected $5.1 million in February and ended the month with $24 million in the bank, a $1 million cash on hand improvement from its showing at the end of January.
"Chairman Steele will continue to focus as he has from day one on the organization, staff and resources necessary to win elections," said Jim Dyke, an adviser to the RNC.
The RNC fundraising numbers will draw considerable scrutiny as they represent the first quantitative analysis of Chairman Michael Steele's first month in office, which, qualitatively, is kindly described as a struggle.
If Steele was able to fundraise effectively, concerns about his ability to stay on-message would dissipate, the sources argued. If, on the other hand, Steele proved a less than stellar fundraiser, calls for his removal would increase.
The February report likely buys Steele some time although it doesn't offer conclusive evidence to answer the questions swirling around him. Steele's cost-cutting and ability to add to the cash on hand total will be touted by allies as signs of progress. Detractors will note that a series of $5 million months is not the stuff that will return Republicans to the majority.
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