Skip to comments.Romney’s Money Problems
Posted on 02/21/2012 7:33:47 AM PST by Cincinatus' Wife
......MittRomney raised slightly more than his Republican rivals in January. His campaign committee, Romney for President, brought in $6.5 million in January, according to a report filed with the Federal Election Commission. By contrast, NewtGingrich raised $5.6 million, and RickSantorum and RonPaul each raised $4.5 million.
But his fund-raising pace was fairly weak despite wins in New Hampshire and Florida. And Mr. Romney spent far more than his rivals in January $18.8 million, compared with $5.9 million for his next-closest competitor, Mr. Gingrich.
More worrisome, Mr. Romney spent more than he took in; his cash flow was negative $12.2 million for the month. He exited January with just $7.7 million in cash on hand.
That sort of pace is not sustainable. Were Mr. Romneys campaign to continue to raise and spend money at the same rate as in January, it would have only about 20 days of expenditures before money ran out.
Unless Mr. Romneys fund-raising pace picks up or he wraps up the nomination fairly quickly, he might need to consider self-financing, as he did in 2008. But that decision could carry some risk.........
In the long run, it is not necessarily obvious that Democrats are less likely to receive super PAC support than Republicans; the political preferences of the very wealthy are eccentric, and tend to run toward fiscal conservativism but social liberalism. In fact, Democrats have been slightly more reliant than Republicans on contributions from the very wealthy since at least 1990, somewhat contradicting the proletarian image that the party likes to adopt. However, in the 2010 election cycle, super PAC contributions were larger to Republican-affiliated groups ($47.3 million) than to Democratic ones ($36.4 million), and a single contribution from a billionaire like Shelden Adelson could outweigh thousands of smaller ones....
(Excerpt) Read more at fivethirtyeight.blogs.nytimes.com ...
Let us hope Romney runs out of other people’s money before he gets his hands on our money!
I had not heard before this that Mitt was in the red.
Perhaps that is why....
Wonder if he’ll run the federal government the same way?
He’s worth a $billion. What’s he saving it for? How many ocean side mansions can you live in?
If Mitt wins Arizona and does well in Michigan, he will write himself a check for several million to sustain his air attack through Super Tuesday. My goodness, this is his shot at the brass ring.
In terms of being elected President, it may have been fortunate for Romney that McCain bested him in 2008 for the nomination, so that he got this second chance at the nomination in a year when an incumbent Democrat is burdened by a flat-lined economy.
When the seasonal adjustments reverse on the Unemployment Rate and the pick up in the inflation rate starts registering, and when Romney names a running mate who is a solid conservative, the general election will be easy. But, getting the nomination, Romney may have thought otherwise going into South Carolina; but, no, that’s not going to be easy.
One day interest rates will return to normal levels and what will that do to the budget? If we continue to spend so much as a country, one day in the not too distant future investors will lose faith in buying our debt like they have with Greek debt. The folks in Greece are not just rioting because they want their free goodies. They are also rioting because their economy is going down the tubes. Unemployment is up and tons of businesses have failed in the last year. They are screwed. At the moment we are not. We don’t have to follow their path. But I’m not very optimistic things will change no matter who gets elected. We will always have to deal with the moderates in the party who collude with democrats. Remember the Gang of Six?
If the next republican president runs the federal government in a similar fashion to GW, conservatives need to leave the party. Then fight it out for dominance as the main contender to the Democratic party and be done with those pragmatic losers once and for all.
i think it is more like 200 million
Sure he would, that’s how he ran Bain Capital. They borrowed a bunch of money on companies that later went bankrupt, but thanks to Wall Street “ethics” they got to keep the money. If his business career was based on spending more money than he actually earned and he was successful doing it, why would he change now?
Mitt is toast, thankfully.
The 2 man race is Newt and Rick!!
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