Wednesday, July 6, 2011

Number of the Day

$18.25 Million: The amount of money raised by Mitt Romney for his presidential bid in the last quarter.
While Romney, whose team now has $12.6 million cash left on hand, is in a strong position, the latest numbers were somewhat below expectations. At this point in 2007, Romney had collected $23 million despite being less established as a top tier candidate. But he's essentially competing against himself at this point: none of his rivals are expected to even crack the $10 million barrier.
Rep. Michele Bachmann, who has not reported her fundraising numbers yet, has been his closest rival in straw polls, but is not expected to best $18m.

As a result of the several awesome SCOTUS decisions on campaign financing since the last election, 2/3 of Romney's fundraising has come from a single super-PAC, "Restore Our Future, which can collect unlimited corporate donations and raised $12 million this quarter."

So, quite literally, corporations are buying the Republican nomination. And, at this point, they're putting their money on Mitt.