Mahoney has spent nearly four times as much as he has raised this cycle
"Sean Mahoney talking about reducing spending is like Bernie Madoff giving investment advice," said Harrell Kirstein, press secretary for the New Hampshire Democratic Party. "So far his campaign has spent nearly four times more money than it has raised. How is that keeping spending low or being fiscally responsible?"
The latest FEC report from Mahoney's campaign shows he raised a mere $125,000 thus far in the campaign, while he has spent nearly $500,000.(fec.gov) The extreme burn rate of close to 400% is being sustained by an $800,000 loan Mahoney made to his campaign.
During his previous two runs for political office, Mahoney also loaned himself hundreds of thousands of dollars. In a failed run for Congress in 2002, Mahoney loaned his campaign $685,000.(fec.gov) In 2006, Mahoney loaned himself $118,000 for an unsuccessful campaign for the state Executive Council--more than two thirds of his total expenditures. (sos.nh.gov)
"How can he expect the voters of New Hampshire to believe he will keep spending low and government efficient in Washington when all three of his campaigns have failed miserably at both?" asked Kirstein.