Posted by: mulrickillion | February 12, 2012

Fund-raising: The money primary – Super PACs are altering the dynamics of the race

Adelson gave Gingrich this much

Feb 4th 2012 | TAMPA | from the print edition, The Economist —

THE fund-raising reports that the candidates recently filed for the final quarter of last year give a sense of their relative financial muscle. As of December 31st, Mitt Romney had $20m on hand, having raised $24m in the preceding three months. Newt Gingrich, the best funded of his opponents, had only $2.1m left to spend, having raised only $9.8m. Rick Santorum brought in less than $1m and had less than $300,000 on hand.

The varying fortunes of the “super PACs” backing the different candidates were even more striking. These groups are supposedly independent of the candidates, and so are not subject to the limits (of just $2,500 per donor) placed on donations to their campaigns, even though super PACs are often run by close confidants. Restore our Future, which champions Mr Romney, raked in $18m in the second half of 2011, 98% of it from people giving more than $25,000. Winning Our Future, the outfit backing Mr Gingrich, managed $2.1m though it was only set up in mid-December. . . .

Fund-raising: The money primary | The Economist


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