Low on Cash, Romney Tries to Rally Donors for Final Phase
Mitt Romney entered the final months of the presidential campaign with a cash balance of just $35 million, racing to find new large donors and rally low-dollar contributors in August even while he raised tens of millions of dollars for the Republican Party, the New York Times reports.
Mr. Romney’s campaign took in $67 million that month but also spent about that much, twice the rate of spending as in any prior month, according to reports filed Thursday with the Federal Election Commission. More than half of what Mr. Romney raised in August was money he could not spend until after his party convention at the end of the month. And he grew so short of available cash that his campaign borrowed $20 million and sharply curtailed advertising, even while doling out post-convention bonuses to a handful of senior staff members.
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