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Monday, July 16, 2007

Democratic National Committee: Romney Campaign Busted Like McCain's

COLUMBUS (TDB) --The Democratic National Committee said tonight Mitt Romney's GOP presidential campaign has been kept afloat with nearly $9 million in loans from the wealthy candidate himself. "In fact, were it not for the nearly $9 million Romney has loaned his campaign, he would have roughly the same amount of cash on hand as McCain."

In May, Romney loaned his campaign $2.5 million. He added another $4 million loan at the end of June.

Sen. John McCain, R-Ariz., had about $2 million in the bank at the end of the quarter, according to a Federal Election Commission filing. Without the loans, Romney would have about $3 million cash on hand.

The DNC said Romney has spent about $6.7 on ads, which it described as barely keeping him competitive in the polls with the other top tier 2008 Republican presidential candidates.

"The ad buy hasn't brought Romney much credibility with the voters. According to Real Clear Politics average of five leading national polls, Romney supports among Republicans lags at 9.8 percent: far behind Fred Thompson, Rudy Giuliani and even the foundering John McCain."

On the other hand, Romney's personal fortune has been available to tap. Being rich certainly hasn't forced him to cut back staff and retool his campaign. The DNC's numbers just don't seem to make its point: That Romney is nearly running on empty.

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