Romney Isn’t That Rich

1200084084As we told you yesterday, Mitt Romney just doesn’t want to give up. Despite the fact that it looks damn near impossible for him to claim the GOP nomination, there’s been no word from the candidate about dropping out of the race.

In the past, Romney (ever the businessman) has just thrown more money at the problem, relying on his deep pockets to keep the campaign moving. For a while, that strategy worked. It won’t any longer, though.

Wait until you read how much money it figures to cost Romney to become the Republican nominee. It’s an eye-popper.

According to The Washington Post, Republicans like to break down how much a campaign has spent, and then relate that to how many delegates the candidate has won. They even have a cutesy little name for the equation.

Republican campaign operatives call it the Gramm-o-meter, the money a candidate spends per delegate won, in honor of Phil Gramm, the former Texas senator who spent $25 million and won just 10 delegates, or $2.5 million per, in 1996.

So where does Romney rank on the Gramm-o-meter? Thus far, he’s spent approximately $1.16 million per delegate. At that rate, Republican strategist Alexander Vogel calculated that Romney would need to spend a total of $1.33 billion to win the nomination.

Pony up, Mitt! Sounds like a solid investment to us.

UPDATE: Looks like Mitt went with the cheaper option. Damn.