Holly Bailey
|
Oct 4, 2007 01:32 PM
Mitt Romney has spent an average of $200,000 a day running for
president. That’s according to the official fund-raising numbers
released this afternoon by the Romney campaign. Romney raised $10
million in contributions, and dug into his own deep pockets to lend his
campaign $8.5 million. That means Romney has given his campaign roughly
$17.5 million so far. Overall, including the loans, Romney has raised
around $62 million since the beginning of the year. But here’s the
important number: According to the Romney campaign, it ended the third
quarter with just $9 million cash on hand, which means he’s spent close
to $53 million running for president during the first nine months of
the year. That's about $5.9 million a month or $194,000 a day on
average. Or to really get your head around the numbers, put it this
way: According to your Gaggler’s handy calculator, Romney has shelled
out about $2.25 a second during the first nine months of year. If he
hadn't dipped into his personal funds, his operation would be running
in the red.
How does Romney's spending compare with his rivals? While we are
still waiting on cash on hand totals for Democrats, including Hillary
Clinton and Barack Obama, there are more details available about
fund-raising on the GOP side. Rudy Giuliani announced today that he
raised $11 million during the third quarter, with an overall total of
$46 million so far this year. According to the campaign, Giuliani will
report roughly $16 million cash on hand, which means he’s spent about
$30 million during the first nine months of the year. Broken down,
that’s an average of $3.3 million a month, $110,000 a day or $1.27 a
second. (If he weren't so dead set on winning the White House, Rudy
could be kicking back with a tall caramel macchiatto every three
seconds! Talk about misplaced priorities.) Meanwhile, John McCain’s
campaign reports he raised $6 million this quarter--a fair number for a
guy whose campaign was pronounced dead just a month ago. According the
McCain camp, he’ll report $3.6 million in the bank, though there's no
word on his debts, which were sizeable on his last financial report.
How does his burn rate compare to Romney? Overall, McCain has raised
about $31.3 million during the last nine months and spent roughly $27.7
million. That’s an average of $3.1 million a month, $101,000 a day or
$1.17 a second since January. In other words, these guys are spending a
lot of dough for a job that pays just $400,000 a year--or 2 days, in
Romney dollars.
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