Everyone in the political world was supprised last quarter to see how well Romney did with fundraising, rasing more than $20 million to help feed his campaign. This time around, he does not expect to come in first, and says that the numbers should be closer between the top three candidates.
While I am disappointed that it now appears that Romney will not get a bounce in the polls from coming out on top of the fund-raising effort, the announcement that they do not expect to rake in quite as much does not surprise or worry me. Last quarter, Romney made his primary focus fund-raising, and, accordingly, he raised a lot of money, but did not show major movement in the polls. This time, his primary focus is gaining support and beating the other candidates. As expected, this focus has produced a lead in important states and upward movement nationally, but somewhat lower numbers in the money department.
It is only to be expected that Romney needs to spend more money in the primaries, as he comes into the race at an automatic disadvantage. Even if Fred Thompson enters late, he will still be better off than Romney was only a couple months ago, because he is already well known. Romney lacked name recognition, and had to spend money to get out advertisements to increase his support. Romney is in no danger of running out of money, as he has more than enough personal wealth to carry him through rough patches, and has enough support and endorsements to ensure that he will have at least a decent amount of cash on hand.
I knew that the liberals in the blogosphere would try to spin this against the best candidate in the race, so I thought I better put out a more honest take on it.