Mitt Romney Knows the Economy, Doesn’t Know When to Stop
If there is one thing Mitt Romney wants you to know, it’s that he understands the economy. It is the peanut butter to his Fluff, the Sonny to his Cher, the reason he won the Michigan primary. Free market, Adam Smith, supply and demand. Romney understands it all.
We can’t possibly claim to know as much about the economy as our former governor. But we’re pretty sure that spending $18 million of one’s own money in three months to finance a campaign does not make good economic sense.
We don’t have an MBA but we’re pretty sure spending more money then you take in is not exactly a lesson in exhibiting fiscal responsibility.
Romney donated twice as much of his own money than he raised from contributors during the fourth quarter[.]
Ouch. Here’s a little more context:
McCain reported yesterday that he raised $6.8 million in the last three months of 2007, the least of any major Republican presidential candidate except Mike Huckabee. Yet despite his anemic haul, the Arizona senator managed to win in New Hampshire, South Carolina, and Florida to vault himself into the lead in delegates.
That’s a pretty poor return on an investment, and probably would’ve gotten Mitt into some deep trouble back in his Bain Capital days.
In these troubled economic times, the Democrats probably haven’t been able to raise much money either. Right? Wrong.
Democratic presidential candidate Barack Obama raised $32 million in the single month of January, a whopping figure that has permitted the campaign to boost staff and extend advertising to states beyond the sweeping Feb. 5 contests, aides said Thursday.
Regardless of his huge fundraising haul, Obama won’t be the only one extending his advertising. Romney’s dipping into his own accounts—again—to buy airtime in Super Tuesday states, home of some of the most costly media markets in the country.
“I have authorized a seven-figure — I won’t give you the exact number — but seven-figure advertising buy for our campaign,” he told reporters.
Mitt Romney: Master economist.