Classifieds | Archives | Jobs | About TGT | Contact | Subscribe
 | 
Last updated 0 minute 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
Decision on 3rd party run soon: Trump
NASHVILLE: Donald Trump will decide soon whether to mount a third party bid if he loses the Republican nomination for president, the real estate mogul said on Saturday. ..
Biden weighs 2016 run: White House
WASHINGTON: The White House on Monday acknowledged that Vice President Joe Biden is still weighing a possible run for the top job, amid controversy surrounding Democratic..
Support rises for Biden’s 2016 bid
WASHINGTON: More prominent Democrats on Sunday cracked open the door for Vice President Joe Biden to enter the race for the Democratic presidential nomination as party fr..
Clinton opposes Arctic drilling, Keystone XL delays
NORTH LAS VEGAS: Democratic presidential candidate Hillary Rodham Clinton is opposing President Barack Obama’s authorisation for oil drilling in the Alaska Arctic and his..
Trump vows to lay out specific policy plans soon
BIRCH RUN: Republican presidential candidate Donald Trump says his campaign is prepared to lay out specific policy plans. He’s just not ready yet. And in the mean..
 
FRONTPAGE
 
GALLERY
 
PANORAMA
 
TIME OUT
 
SPORT
 
 
Advertise | Copyright