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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRomney campaign spent $17 million more than they took in...
Mitt Romney's presidential campaign announced early Monday that they have raised more than $100 million for the third consecutive month, but spent more than $17 million more than they took in.
The $111.6 raised, puts the total brought in by the campaign an associated Republican groups at $319 million since the beginning of June. But Romney's cash on hand actually decreased despite the haul, amid apparently heavy spending.
The campaign reported $185.9 million in the bank at the end of July, but that was down to $168.5 million at the end of August.
Campaign officials did not comment on what was responsible for the $129 million in spending in August. Their July outlay was over 40% less at $75.4 million.
UPDATE: Obama campaign manager Jim Messina announced that the campaign had outraised Romney by less than $3 million, reversing a months-long trend of the Republican nominee taking the lead in the money race.
"The key to fighting back against the special interests writing limitless checks to support Mitt Romney is growing our donor base, and we did substantially in the month of August," he said in a statement. "Fueled by contributions from more than 1.1 million Americans donating an average of $58 -- more than 317,000 who had never contributed to the campaign before -- we raised a total of more than $114 million. That is a critical downpayment on the organization we are building across the country -- the largest grassroots campaign in history."
http://www.buzzfeed.com/zekejmiller/romney-raises-1116-million-spends-even-more-in
porphyrian
(18,530 posts)...overspend what they take in, cut more taxes, then cut social programs rich people don't use.
jberryhill
(62,444 posts)Bain can come in, load it up with debt, skim off the excess, fire everyone, and shut it down.
Frustratedlady
(16,254 posts)How could either party spend that much in that short a time. It makes me sick that our campaigns have stooped to this when so many school children could use it in a much saner manner.
There must be some people drawing outrageous salaries or someone is eating high on the hog.
cynatnite
(31,011 posts)Advertising is expensive and they want to do a lot of it. I'm sure someone is eating high on the hog, but these campaigns will not run on the cheap.
hughee99
(16,113 posts)It's a campaign. Aren't you supposed to raise money and spend it before the election? Isn't that what people are giving you the money for? Why would any candidate be taking in more than they spend 2 months before an election? What would they be saving the money for?
cynatnite
(31,011 posts)hughee99
(16,113 posts)until the election ends. It's a campaign, not an ongoing business, if they end up with a huge pile of cash and a loss, they're not doing it right (unless that was actually the goal).
Obama should be doing the same. What's he going to save the money for after November? This is his last election.
cbdo2007
(9,213 posts)Blue Idaho
(5,048 posts)Time to pull a few hundred million dollars out of those swiss bank accounts and lay them on the line.
Think of all the Chinese RMoney/AynRand buttons you could buy!
lpbk2713
(42,753 posts)One thing I'd love to know ... how many service providers in Tampa will be paid with rubber checks?
I've heard several reports from service corps workers saying their recent "guests" were rude and
obnoxious and miserable tippers. Will they even honor the debts they incurred?