Smith vs. Franchot 2010?

We noted yesterday that Baltimore County Jim Smith is still raising money even though he is term-limited to leave office in 2010.

Now several sources have confirmed that the Annapolis press corps began receiving press releases from Smith in recent months – starting around the time of the special session and, more importantly, the heightened animosity between Comptroller Peter Franchot and Gov. Martin O’Malley.

At first, the reporters were confused as to why the Baltimore County Executive had their contacts (especially certain reporters are on O'Malley’s list, but not others). But they put two and two together and came to the assumption that the Governor is pushing Smith to run for Comptroller against Franchot in 2010.

This line of thinking has caused a lot of Republican mouths to water. Their hope is that the slots referendum is defeated, Franchot gets cocky and takes such umbrage at an O’Malley/Mike Miller-backed primary challenge that he turns around and runs for governor in 2010.

A source with knowledge of former Gov. Bob Ehrlich's thinking says this is the ideal situation. O'Malley will have lost a key part of his budget plan and will have a portion of the party in open rebellion against him two months before the general.

That’s not likely to happen, even if slots fail. Franchot’s people seem to be more interested in defending what they have than any new conquests.

And they sure need to focus.

Smith currently has nearly half a million in cash on hand ($495,348), taking in $404,125 last year. Meanwhile, Franchot took in only $257,595 in 2007, with an account balance of $240,887 – less than half of Smith’s warchest.

“The Comptroller is concentrating on doing the job he was hired to do in the last election, not focusing on the next one,” Franchot spokesperson Joe Shapiro said. “He is fulfilling his promise of being a fiscal watchdog and an independent voice – winning national awards for excellence from his peers while doing so.”

O’Malley’s Rick Abbruzzese e-mailed, “No comment,” while Smith’s office had no response.