Tapper: Romney Surpasses Steve Forbes’ Self-Funding Pace
“Multimillionaire Steve Forbes was the subject of quite a bit of scorn among GOP political circles for the multimillion-dollar loans he gave his quixotic campaigns for the presidency in 1996 and 2000. Less discussed in the 2008 presidential contest is the fact that multimillionaire former Massachusetts Gov. Mitt Romney is now outpacing Forbes in self-loans,” writes the estimable Jake Tapper in an ABCnews.com transmission titled Romney Surpasses Steve Forbes’ Self-Funding Pace
By the end of the third quarter of this year, according to Federal Election Commission reports, Romney had loaned his own campaign $17.4 million in personal funds — not including a donation of a $61,435 Winnebago.
That exceeds the $16.5 million Forbes donated to his campaign in all of 1995, and the $12.7 million Forbes had loaned himself at this point in 1999.
The campaign of one of Forbes’ opponents, Sen. Lamar Alexander, R-Tenn., said, “Steve Forbes seems intent on buying the election, and according to the FEC law, there’s nothing to prevent him from doing it” … more
Yet further evidence of what we refer to as Team Romney’s Madden Doctrine, i.e. the deliberate and programmatic blurring of the distinction between (a) the attention that money can buy with (b) actual political support.
- Romney’s self-financing an artifact of Romney’s self-deception—we call it the Madden Doctrine
- Scherer: subtract the money Romney gave himself and Romney had just as much cash on hand in June as McCain did, a little more than $3 million—”at the time, this was seen as a disastrous state of affairs for McCain, prompting the departure of his top advisors”