Newsom’s Impending Implosion

The bromance begins...

Newsweek – As political life goes, San Francisco Mayor Gavin Newsom had a good day yesterday.

He jetted south from the city by the bay to meet up with his new buddy President Clinton.

Then, according to the L.A. Times, the pair talked with a group of students about green energy and jobs before heading to a fundraiser that, with Clinton by Newsom’s side, surely made for a pocket-padding evening.

Read between the lines, though, and the picture doesn’t look quite as rosy for him. Newsom’s problem is one of poor timing, which reveals many more weaknesses in his campaign than strengths.

With more than a year to go before California’s 2010 gubernatorial showdown, Newsom had raised just $1.2 million as of this summer when fundraising numbers were last disclosed.

It might be a respectable amount for governors’ races in other states, but it’s chump change next to his leading opponent’s $7.4 million in the bank. Even his would-be GOP rival (in a state that traditionally goes blue) has outraised him more than sixfold.

Several Democratic insiders who once believed Newsom had one of the best shots at the crown now tell him that to maintain his credibility, he’ll need at the very least a few more million in the bank before the end of the year.

If not, he’ll look like a weak candidate who, perhaps suspiciously, can’t build momentum.

Ouch.