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Mitt's campaign is having money woes

Not a good sign for the flip-flopping former Massachusetts governor. Since he’s barely above 10% in the polls, he hasn’t been able to buy popularity. This is the second time he’s ponied up for his presidential campaign.

Mitt Romney said yesterday he had once more turned to his personal fortune to help finance his presidential campaign and might do so again, suggesting that his fund-raising has fallen off since the first three months of the year.

Mr. Romney, who spoke to reporters at a news conference in Boston, declined to say how much of his own money he had put into his campaign this time, although the amount will become clear soon, when second quarter fund-raising results are released.

…Depending on how his competitors do, a fund-raising drop-off for this quarter could be a serious turnabout for his campaign. Mr. Romney stunned many when he led all the Republican candidates in the first quarter of the year by raising roughly $23 million, including a $2.35 million loan he provided himself and described as “seed money” for his campaign.

The amount far exceeded his Republican opponents? take. Rudolph W. Giuliani was closest with about $14 million. Mr. Giuliani and Senator John McCain are expected to top their first quarter totals for the three-month period that ends Saturday. Mr. McCain raised $12.5 million in the first three months of the year.

In contrast, Mr. Romney, who is believed to be worth as much as $350 million, and his campaign staff sought yesterday to lower expectations for the second quarter. They cited the increasingly crowded Republican field and the demands of campaigning in early voting states.

This kind of commentary (from Bob Jones III), if it reflects the current thinking of the evangelical fundamentalist Base cannot help matters for him either.

Bonus embarrassment — Oliver Willis notes that Mitt held a one-day fundraiser, renting out Boston Garden and Fenway Park. If his campaign is trying to project growing popularity and momentum, showing empty venues isn’t exactly going to do the trick.

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Pam Spaulding

Pam Spaulding