Politics
Mitt Romney’s cash burn rate a boon for Obama
Mitt Romney is burning through cash more than twice as fast as he’s raising it, new reports filed Monday show — a clear sign that a protracted GOP primary fight could leave the front-runner limping into a general election fight with President Barack Obama.
Romney’s presidential campaign and the super PAC supporting him pulled in US$13.1 million in January, but spent US$32.7 million in the same month — an astounding burn rate more than double any of his rivals’ campaigns or super PACs.
The filings also show Romney’s fundraising operation is struggling to pick up momentum, seeing a minimal surge in cash after his big New Hampshire win, and a plunge after his South Carolina loss.
GOP insiders worry that if Romney and his allies are forced to continue to outspend his competitors by mega-margins without winning over new donors, he could run the risk of tapping out core donors before Republicans even get to the big general election showdown with Obama, whose campaign has deeper pockets than any prospective GOP rival.
“[Romney] has enough money to compete in Michigan, but if he doesn’t do well, he will have a dry spell, and he might have to lend himself money, as he did four years ago.
