Classifieds | Archives | Jobs | About TGT | Contact | Subscribe
 | 
Last updated 49 minutes ago
Printer Friendly Version | TGT@Twitter | RSS Feed |
HOME LOCAL MIDEAST ASIA WORLD BUSINESS SPORT OPINION WRITERS
Romney campaign had $25.7m left after election
December 08, 2012
 Print    Send to Friend

WASHINGTON: Mitt Romney’s presidential campaign had $25.7 million left in the bank days after the Nov.6 election that ended months of relentless fundraising in the most expensive race in US history, new campaign finance disclosures showed on Thursday.

President Barack Obama, a Democrat, defeated the Republican candidate following a campaign that cost more than $2 billion overall.

Obama’s re-election effort had $14.2 million left as of Nov.26, according to the Federal Election Commission disclosures.

Leftover campaign cash is common and often goes to the national party or other candidates.

The Romney campaign on Thursday said every raised dollar had gone toward Romney’s run and that it “continues to process invoices for pre-election expenses.” It expected to have less than $1 million by the end of the year.

“It is not uncommon. It is of course a great risk,” said Sheila Krumholz, executive director of the Centre for Responsive Politics that tracks campaign finance. “As a loser you want to make sure you’ve given it your all.”

Obama and Romney both spent much of their campaign cash on voter outreach and especially advertising. But the Democrat and his “Super PAC” backers at Priorities USA Action, an unlimited-spending group, held an early advertising game advantage.

Obama’s campaign dominated the airwaves, booking the increasingly expensive spots earlier and at the lowest price.

The “super” political action committee, which was legally barred from coordinating with the campaign, ran a series of aggressive ads about Romney’s private equity past that portrayed him as a corporate raider.

The damaging ads, as well as negative press surrounding Romney’s disparaging “47 per cent” comment about Americans relying on government funds, contributed to the candidate’s defeat.

The pro-Romney Super PAC Restore Our Future — boosted once again by this year’s Republican mega-donor Sheldon Adelson — plowed $45.5 million into a last-ditch effort to sway voters, according to Thursday’s filings.

But according to Reuters/Ipsos polling, nearly three-quarters of Americans had made up their minds in the presidential race before Obama and Romney faced off in the first debate on Oct.3.

Reuters

 

Add this page to your favorite Social Bookmarking websites
Comments
 
Post a comment
 
Name:
Country:
City:
Email:
Comment:
 
    
    
Related Stories
Clinton wiped email server clean: GOP
WASHINGTON: Hillary Clinton wiped “clean” her private server that hosted her emails while secretary of state, permanently deleting all correspondence, and did not turn ov..
Donald Trump enters race for White House
WASHINGTON: Businessman and reality television star Donald Trump is taking a key step towards running for US president in 2016. Trump said on Wednesday he had formed a..
Ex-Maryland governor eyes presidency
WASHINGTON: Maryland’s former governor announced Tuesday he will not seek the seat of a retiring senator, keeping open his option of running for president in a Democratic..
Most in poll say keep politics out of the Fed
WASHINGTON: Most Americans don’t know who runs the Federal Reserve, but they do believe that elected officials should stay out of its business, according to a Reuters-Ips..
Kerry faces tough two-day grilling in Congress
WASHINGTON: Secretary of State John Kerry has implored sceptical senators not to criticise nuclear negotiations with Iran before a deal can be crafted, but he’s certain t..
 
FRONTPAGE
 
GALLERY
 
PANORAMA
 
TIME OUT
 
SPORT
 
 
Advertise | Copyright