Opinion: New numbers show Romney’s $pending rate

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Former Massachusetts Governor Mitt Romney is spending money at a phenomenal rate--$31.8 million in the first six months of this year--to win the GOP nomination. That’s about $177,000 per day or nearly $7,400 per hour. His spending is focused on Iowa and New Hampshire while his national poll standing lags at around 10%.

According to a news story on fresh fundraising numbers, The Times’ Dan Morain reports Romney spent at nearly twice the rate of Rudy Giuliani in the second quarter, $20.4 million to the former mayor’s $11 million. Morain’s full story is available here. The actual campaign finance reports are available here.

After raising $35 million in the first six months of 2007, Romney has $12 million in cash left. Giuliani, after raising less than Romney ($33.54 million) has $18.3 million left in the bank.

By comparison, four years ago George W. Bush had raised $37.3 million and spent only $7.2 million.

California was Romney’s largest source of funds, at 17%, with Utah second at 11%, and Florida third at 8%.

New York gave Giuliani the most money, 23%, with California second at about 10%, and Florida third.

The Federal Election commission has assembled an interesting U.S. map showing the volume of political contributions by state here.

--Andrew Malcolm