A blog about Politics, Texas, and Academia

Mitt Romney: Not So Conservative When It Comes To Spending

In Media, news, Politics on July 18, 2007 at 8:46 pm

From The Economist

For a successful businessman worth $250 million, one has to question Romney’s handling of campaign contributions.

From the AP:

BOSTON (AP) — Mitt Romney’s campaign found 9,732 ways to spend its money last quarter. From a $15 service fee for its travel agent to $300 for makeup work to $31,500 to rent the Boston Red Sox’s Fenway Park for a celebratory barbecue, the Republican presidential contender was anything but fiscally conservative in spending money as fast as he raised it between April and June.

Based on the report Romney filed with the Federal Election Commission over the weekend, his spending was so prolific he had to lend his committee $6.5 million during the quarter, allowing him to cover the difference between $20.5 million he spent and the $14 million he raised.

That loan also means that, for all intents and purposes, Romney has personally paid for every second of the $4.9 million in television ads his campaign has aired since he formally declared his candidacy in February.

The article goes on to discuss Romney’s net worth:

Romney, 60, has a reputation as a cautious businessman, priding himself on ingesting volumes of data before continuing with a business deal. The approach has paid off: His net worth is estimated at up to $250 million.

As a politician, he’s also cast himself as a fiscal conservative, vowing to limit government spending and veto excesses.

How does this differ from John Edwards’ $300 haircut and Hillary’s spendy suits? It doesn’t. The media feeds off the spending habits of all of the presidential candidates and much like the media, the public falls into the same trap of reading this gossip.

So…check out the full article here. 😀

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