Posts Tagged ‘self funding’
“Mitt Romney’s had an 8 to 1 television ad advantage in Florida … “ writes Marc Ambinder in a theatlantic.com blog burst titled Romney’s Major Florida Advantage
… part of the reason why he’s made the competitive. Heck, most of the reason he’s made the race competitive has been his ads.
According to Neilsen, he’s run 4,475 ads compared to John McCain’s 470 through 1/22.
McCain did not run a single ad until January; Romney ran more ads in September than McCain has run to date [...]
8 to 1 advantage in television advertising. Yet Romney is deadlocked with Sen. McCain. Yet more evidence of Romney’s outrageously low ROI for his every campaign dollar. Yet more evidence that Romney’s funding levels are not a reliable indicator of his fitness as a candidate.
- Tim Russert: Romney “could buy the (GOP) nomination”—our response: that was Romney’s intention all along
- Cox: “Romney has been accused of trying—though often failing—to buy elections—But Florida is the first state money really can buy.”
[...] “TAMPA, Fla. — Mitt Romney lost three of the first five big Republican contests and lags behind in most major state and national polls. Yet he is still widely seen as a credible contender for the nomination thanks mainly to one trait: his wallet,” writes ELIZABETH HOLMES for online.wsj.com in an article titled Romney’s Wallet Keeps Him in the Race
A senior aide to Mr. Romney says the millionaire investor plans to spend as much as $40 million in the campaign. Mr. Romney spent $17.4 million of his own money on his campaign through the third quarter of last year, according to the Federal Election Commission.
At a time when some campaigns are running dangerously low on funds, Mr. Romney’s ability to self-finance will make it difficult to count him out of the race until the very end [...]
Here is the problem with Holmes’ account: the US$17.4 million figure goes back 2 months. How much Romney actually spent of his own money in Iowa, New Hampshire, Michigan, South Carolina, and now Florida, is unknown, and will remain unknown:
“In recent months Mitt Romney, whose personal fortune is estimated to be as much as a quarter of a billion dollars, blanketed the airwaves of Iowa and New Hampshire with dozens of campaign advertisements,” write the editors of the Washington Times in an article titled Romney and his money
[Romney] clearly has spent tens of millions of dollars of his own money in Iowa and New Hampshire, but he steadfastly declines to say how much. The Romney campaign suffers from a glaring transparency deficiency, which it should address at once.
Mr. Romney has every right to bankroll his presidential campaign with his own money. No argument here. But why has he refused to tell voters how much of his personal fortune he has funneled to his campaign since the end of the third quarter?
On Jan. 4, the day after Mike Huckabee defeated Mr. Romney in Iowa, this newspaper asked the Romney campaign to say how much Mr. Romney had personally contributed since Sept. 30. During the first nine months of last year, Mr. Romney had given his campaign $17.4 million, about 90 percent more than the $9.2 million in the campaign’s cash-on-hand on Sept. 30 [...]
Yet the Romneys refuse to release their fourth quarter numbers until the filing deadline of Jan. 31. This date falls after the primary contests in Iowa, New Hampshire, Michigan, Nevada, South Carolina, and Florida.
Also from the article, Romney’s fund raising “declined from US$20.8 million in the first quarter to US$13.9 million in the second, to less than US$10 million in the third.”
Romney increased his own contributions to compensate.
Transparency issues? Is this how Romney will run our government?