Romney Dumped $35 Million Into Campaign

Republican presidential candidate Mitt Romney loaned his campaign a total of more than $35 million in 2007, according to the most recent filings of campaign finance reports.

In the past quarter alone, the former Massachusetts governor pumped $18 million of his own wealth to financing his candidacy. That personal contribution helped bolster his fourth quarter fundraising total to $27 million, well beyond the $6.8 million raised by his competitor and GOP frontrunner, Sen. John McCain. The figures, it should be noted, were tallied at the end of December when the political dynamics were very much different.

Nevertheless, the scope of Romney's personal wealth and the extent of his self-financing have become recent fodder on the campaign trail. In a recent debate, the Massachusetts Republican declined to reveal just how much money he was giving his campaign. Though he has been willing to flaunt his campaign wealth as evidence that he remains a viable White House contender.

"I have authorized a seven-figure -- I won't give you the exact number -- but a seven-figure advertising buy for our campaign," Romney told the Washington Post. "But frankly, at this stage, I don't think anyone will be advertising on a per-person basis the level we did in Iowa, New Hampshire, Michigan and Florida."

Romney, the former CEO of the private equity firm Bain Capital, is said to be worth $250 million. The $35 million he has used on his presidential campaign does not include what he lent himself during the month of January. That amount -- should Romney stick to his self-financing pattern -- should push the total figure for personal wealth spent over the $40 million mark.

See who is bankrolling the 2008 Presidential election. Search by name or street address to see the cash donations and political leanings of your boss, neighbors, relatives, friends, and favorite celebrities with Huffington Post's FundRace.

Comments

[D2D2]

Shame on Romney for trying to buy the Presidency. Apparently he has no strong convictions, as he constantly changes his political position and campaign theme. He runs negative campaign ads non-stop, but objects when others run negative against him. Finally, running a company differs greatly from running the Country. I believe that businesses often operate with short-term thinking only, looking at the current trends and adjusting accordingly to increase profit. As a CEO, that may be a virtue, but as a candidate for the President of the United States it's a liability.

[johnwm1022]

This guy is a Powerpoint salesman, not a real business man. I had a fair amount of interaction with one of his companies and I wasn't at all impressed with how it was actually managed vs. how it was "presented".
Romney was the OZ behind the curtain, pulling the levers, but his minions displayed shockingly little business acumen and were sorely in need of real leadership. And there was certainly no bias to saving jobs.
Each of Romney's opponents seems to genuinely dislike him, just like a many businesses who dealt with Bain Capital genuinely disliked their style. There is a self promoting quality and a ready willingness to bend the truth that is at the heart of this dislike. There is also Stepford like,clan-ish quality in those around him to support the virtual reality created by such truth bending.

[MikeDu]

Perhaps this is Romney's patriotoc attempt to help the economy. Everyone's supposed to be getting a $500(?) tax refund to spend. $500 in relation to to my net worth is the equivalent of $35 million in relation to Romney's.

[KarenZipdrive]

If Romney has invested his own money into a loser campaign such as his, that speaks a lot about his poor financial judgment.
He's a gasbag. I can't wait till Walnuts McCain pushes him off the cliff.

[seamusnh]

If you have $250M, what is $35M on goal such as the presidency? Would you rather have a candidate take money from corporations, lobbyists, and special interest groups? If he gets the nomination and wins, he won't be obligated to anyone looking for special favors or influence....

I met Romney over 20 years ago when he was at Bain Capital. Bain did some solid investments that created business and jobs. Ever been to a Staples?

[leatherneck]

It is truly amazing though that the best the Republicans can do is a John Mccain whom the neo cons hate, and a Mitt Romney {mormon} whom the religious right will not vote for, since they deem him a cult instead of a religion, since they believe in some mythical golden tablets found in forest in USA in 1800's, as well as their history of believing blacks were cursed with mark of cain which by the way is the Klu Klux Klan doctrine and belief as too justify their hatred of blacks..., it was not until 1978 they allowed blacks into their churches and only then after a law suit forced them too...., yes the republicans have reaped what they have sown...a totally unelectable bunch of scoundrels..

[leatherneck]

Huckabee being heckled is not surprising, a ex-governor who was under study too a televangelist [modern day pharisee's, thieves and con artists who use religion too further personal gain/power], this is the face of the republican party, how ironic Jesus would not be associated with these false prophets if he were today, and these same false prophets use his name at every opportunity, ironic too Huckabee in one of his speeches bragged how he would make the underground economy {prostitutes, drug dealers, criminals} pay taxes under his tax plan, ironic he denigrates them as sinners whom Jesus would have preached today as he did in his time, and just as in his time the "pharisee's" denigrated Jesus for associating with such sinners, I venture too bet the Huckabee's of the Republican elite are the blind biblical goats whom Jesus will not know on judgment day..., they pay lip service too Jesus but do not adhere to his teachings.

[Mormondude]

It used to be that 'putting your money where your mouth is' was a good thing.

Hillary isn't risking her millions of dollars on her candidacy. If she loses, she walks away still as rich as the day she announced.

The only people to lose money are her contributors. And don't think that she won't have some favors to repay once people start tallying their donations...

I'd rather have ALL politicians campaign on their own dime. They're all rich anyway.

[rextrek]

A vote for any of these Republican ASSHOLES is a Vote for the SAME SHIT! America needs a NEW Direction..a Hillary/Obama ticket would be awsome!

[markusmarkus]

More like dumping money down a rat hole.

Mittwit - the dems dream rethug candidate.

[MajorKong]

Why would you spend $35 million to get a job that pays $400,000 a year for 8 years at best?

[VOTER]

Mitt is still shopping for a white house.

LOL

[Dendroica]

I really hope Mitt wins the primaries, and is the Republican presidential nominee.

Because if that happens, we can bankrupt him and his entire family.

Go Romney!

[Malarcus]

Hmmmm, somebody REEEEEEEEEally wants to be president, eh?

Do you think he's doing this for the public good?

[gcallaghan]

What could entice an accomplished businessman to spend $35 million of his own money to land a job with a four-year combined salary of only $1.6 million? Can you write him off as being too stupid to do the math or is there a missing piece of the equation? Patriotism? Altruism? A real need to lead? Doubtful.
Republicunts view the Office of the President like casino owners view a planeload of Saudi Princes: a source of unlimited, untraceable cold cash.
Republicans = Military Failure