Steve Forbes on Wednesday endorsed Peter Schiff's bid for U.S. Senate in Connecticut.
"I have known Peter Schiff for several years. He has a deep knowledge of finance and economics," said Forbes. "He had long warned of the troubles we now face. As your citizen-Senator he will be a fierce fighter for cutting spending, cutting taxes and repealing Obamacare."
"Steve Forbes understands the massive strains the American economy is under, and to have his backing and trust means a great deal to me," said Schiff. "We need to restore free-market principles, get government out of the way and put people back to work. Steve's understanding of my vision, coupled with his backing, will help me get to Washington to make sure we grow the economy, not the government."
Linda McMahon, the former chief executive of World Wrestling Entertainment who said that she's willing to spend $50 million of her own money to win Connecticut's U.S. Senate race, continues to vastly outspend Schiff.
According to her latest FEC filing, covering the period from April 1 through June 30, McMahon put another $5.5 million into her campaign, bringing her total personal investment to $21.5 million — or more than seven times the amount Schiff has raised during the entire campaign.
A Quinnipiac Poll, released on Friday, of likely Republican voters in the August 10 primary showed McMahon with a commanding 39-point lead over Schiff.