In the second quarter, Mitt Romney raised $14 million, all for the primary. That’s a dramatic falloff from his first quarter haul of $20.6 million. Romney had relied on a small base of maxed-out donors for the first quarter and was forced to broaden his appeal. Now about 80,000 donors have contributed to the campaign, an increase of 50,000 in the last three months.
Romney also kicked in for the second quarter in a row, loaning the campaign $6.5 million from his personal fortune. The loan bumped his total effort over $20 million. He has $12 million on hand and has spent approximately $32 million so far this year.
Campaign spokesman Kevin Madden earlier said, “It would be an accomplishment if we were to get past the number that President Bush raised in the first half” in 1999, the record-breaking $37 million. After a statement like that, it’s extremely likely the campaign would raise more than that. Including his loans, Romney did surpass the number. But without them, which is a more appropriate comparison, Romney fell short of Bush’s record. Also, the maximum donation was $1,000 back then, now it’s a much larger $2,300. If Romney continues to self-finance his campaign this way, potential donors may be scared away, and it can’t be too helpful to his candidacy’s image.