On Monday’s installment of The Gill Report – broadcast live on WETR 92.3 FM in Knoxville – conservative political talker and Tennessee Star contributor Steve Gill discussed the latest fundraising numbers and sources of contributions in what many political watchers predict will be a hotly contested race to replace retiring junior Senator Bob Corker (TN-R):

The Senate fundraising numbers are in for the first quarter of this year – January, February, March. We now know that Marsha Blackburn raised $2 million in donations just in the first quarter of this year.

Phil Bredesen, her likely – almost certain – candidate opposing her in the Fall elections in November as the Democrat nominee for the US Senate has raised $1.8 million. So, about 1.8 to 2 million for Marsha – within two hundred thousand dollars.

What’s interesting, though, is $1.4 million of Phil Bredesen’s $1.8 million is his money. He loaned it to his campaign. So Phil Bredesen has only raised $400,000 compared to Marsha Blackburn raising $2,000,000.

Now again we’ve seen all these hyperventilating articles that “Marsha’s in trouble,” the “the Republicans are in trouble,” and that “there’s this ‘Blue Wave’ building.”

Well, apparently the Blue Wave, at least for Phil Bredesen in terms of national and state donations, is not reflected in people willing to write a check to move the Blue Wave forward.

Now, Phil Bredesen, loaning his campaign $1.4 million is because, he said just last month, he wasn’t planning to contribute to his campaign, but ‘my loan money to the campaign is to help start it and help move it ahead’ – so he put $1.4 million loaned into his campaign, but only raised $400,000 from other people.

Marsha Blackburn raised $2,000,000 from other people – didn’t make any loans, didn’t make any self-contributions into her campaign.

Now again: Phil Bredesen’s $1.8 million was will spend just as well as Marsha’s, too. But where you get your money also matters.