Even Mitt’s Wallet Has Its Limits

The Romney campaign has been the 800-pound gorilla in the Republican primary. Throwing his money around he was able to completely saturate the Iowa, Florida, South Carolina and Michigan airwaves with attack ads that his opponents lacked the resources to respond to.

However, in order to keep up an intense offensive like that you need cash. He has been burning money faster than he has been raising it. Moreover, these charts from Talking Point Memo show that most of Romney’s money has come from big donors who have already given the maximum legal donation of $2,500. He cannot get any money from them until after the Republican National Convention, August 27-30.

Presumably Romney will have to rely more and more on his Super PAC “Restore Our Future” which accepts unlimited contributions such as $1,300,000 last month from hedge fund founder Julian Roberts and $2,000,000 from cosmetic company founder Steven Lund. After all, Romney’s staff does not want to have to give up its luxury hotels.

The Big Money Behind Romney And His Super-PAC

Time Magazine has analyzed the Federal Election Commission filings for January to determine who has been contributing to the Super PAC’s which have been dominating the Republican primaries:

The group supporting Mitt Romney, who swept Florida’s primary on Tuesday, identified bankers, investors and prominent businessmen who together contributed more than $30 million last year. The group’s three most generous donors gave $1 million each, or 400 times the amount they could legally give directly to Romney. All were hedge fund managers. The pro-Romney group Restore Our Future spent much of the money it raised on ads supporting the former Massachusetts governor or fiercely attacking his rivals… To be sure, the Romney-leaning super PAC isn’t alone in its high-dollar contributions to support candidates. Casino mogul Sheldon Adelson and his wife gave $10 million this month to the pro-Gingrich Winning Our Future super PAC, making the couple by far the key backers to a group that had only raised $2 million through the end of December