Wednesday, March 28, 2012

Media Begins -Romney Fundraising Called Into Question or Herald as Strategy, Obama Vs. Romney in the Money Game

Pictured Romney, Santorum and Obama GOP candidates in total out-fundraising Obama - image

The fundraising efforts of GOP Presidential Candidate Mitt Romney were investigated by the AP through the FEC recently, and the fact that Romney’s campaign is amassing millions was originally addressed by the Catholic Online in an article entitled: Not yet begun to fight - Romney's secret weapon against Obama” – the opening paragraph:

Romney is a brilliant money manager and his war chest will still brim in August.
Media attention has focused on Obama's fundraising machine that is rumored to be preparing a reelection campaign war chest of almost $1 billion - although such an amount seems unlikely. Such a fundraising apparatus, if it exists and is working as advertised, could make Obama a much more formidable political opponent. However, Romney is quietly amassing a formidable war chest of his own.

From this sprung a version by Business Week, Romney's fundraisers are quietly amassing millions” – the opening paragraph:

Mitt Romney's presidential fundraising operation dwarfs those of his Republican rivals, with more than $75 million already in donations. It also operates mysteriously at times, withholding the names of Romney's major fundraisers who have helped amass much of its money”

The difference in the reporting lays in the innuendo’s of the Business Week report, as well as following reports from CBS News, one can anticipate the groundwork being laid by the media for a spin on Romney and his “wealthy” supporters versus the incumbent, President Obama.

However, when one compares the data available on the FEC website, there is a reason for the sudden scrutiny of the GOP front-runner – simply he’s bringing in more money.

In reviewing the detailed March report from the Romney Campaign Romney’s total contributions were: 11,554,514.25, the majority of which were itemized, with 1,071,118.66 not itemized, 207,603.17 was refunded to donors – total expenditures: 12,362,525.90 for the period and the total contributions in this election cycle to date: 74,755,068.90.

In contrast, Obama for America reports total contributions for the period were 13,873,901.12(including funds from authorized committees), with 7,459,172.14 not itemized. 207,544.30 was refunded to donors, with total expenditures listed as 12,590,672.44 – the Total contributions for Incumbent, including funds from authorized committees in this election cycle to date: 156,713,376.64 (Authorized Committees, political party disbursements i.e.: the Democrat Party).

In total, Republican Candidates from the beginning of this election cycle 2011-12 totaled 202.5 Million, with the Incumbent bringing in, with support from the Democrat Party: 157 Million.

Therein lays the crux of the matter - more money flowing in the opposite direction from the Incumbent - the Romney campaign has approximately 6 million less in contributions that have not been “itemized”, yet the press is suddenly focused on the Romney campaign and identifying the “Wall Street” donors, many of which, were donors to the Obama campaign in 2008.

This falls under: Obama is not bringing in the Billions anticipated, even with help from the DNC compared to the Republican candidates, who are not yet eligible to receive that extra boost – time to beat up the front-runner.

The bundlers: Courtesy of Open
Romney bundlers versus: Obama’s bundlers indicates that the Obama campaign has received more contribution through bundlers, including lobbyists, as well as the Wall Street Firms tied to Romney in the Business Week article. The “smoking gun” is suddenly revealing the names of those who have contributed in a “bundled” environment”. The bundler is an individual who holds a fundraising event, each individual attending can give the maximum of $2,500, and these funds are then submitted as “bundled”. This has been a common practice and it is within the law that campaigns need not release the names of private citizens who have participated in the process. Suddenly the more mainstream media finds this to be a mystery?

Of interest: a positive note from the Huffington Post: ”Mitt Romney Campaign's Dramatic February Budget Re-Shuffling” a report from Sam Stein outlining the Romney budget during the month of February, and his campaigns ability to balance a budget. It gives insight into the candidate and his management team’s ability to make necessary cuts to bring a balanced budget to bear. What is interesting is that this fact was not played up by the Romney Campaign – It’s a selling point.

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