Mitt Romney is blowing wads of cash at incredible rates.
Last week I took a look at Mitt Romney’s spending patterns ahead of the Ames, Iowa straw poll and determined that although Romney would likely get a bit of a boost from his win, the results actually augured poorly for his campaign because of the large amount of money that he had to expend in order to secure a win. Indeed at his rate of spending per vote in Ames, Romney would have to spend between $27.5 billion and $62 billion in order to win the popular vote, an amount of money that far outpaces his own vast personal wealth.
Singer did, however, throw in a caveat but without pulling in big donations, and loaning money to his own campaign, Romney is looking to be in a tight financial spot:
As I noted at the time of my last post, perhaps that was an unfair comparison because it will undoubtedly cost less per vote in a general election than in a straw poll. That said, Romney’s spending habits clearly are not sustainable, particularly because of the fact that he actually isn’t bringing in such huge fundraising dollars (without his own contributions his campaign would have about the cash-on-hand of John McCain). And as a further indication of this unsustainability, Romney is reported to be drastically curtailing his expenditures on paid media.
Something to say?
