Presidential hopeful Ron Paul raises more than the rest of the field save for multi-millionaire Mitt Romney. by Jake Towne, the Champion of the Constitution
(libertarian)
Wednesday, July 6, 2011
Ron Paul, the Republican congressman from Texas, took a strong second place in the fundraising race for the GOP nomination, taking in $4.5 million for the July quarter. Paul is the only candidate in the race besides Gary Johnson pledging to end big government Republican spending practices, banking bailout corporatism, and an earnest return to a constitutional government.
Rival Mitt Romney took first place, raising over $18 million, which was far shy of the comparable quarter in his 2008 campaign where $23 million was raised. The multi-millionaire loaned $42 million to his campaign and raised$65 million in 2008. Romney is currently in London, England, attempting to raise money from wealthy overseas Americans.
Newt Gingrich raised less than $2 million, but has spent far more and is over $1 million in debt per Politico, an ironic situation when the national debt is a key issue. Tim Pawlenty reported bringing in $4.2 million, and the son of a billionaire, Jon Huntsman, Jr., raised $4.1 million, with nearly half his own money. Ex-Federal Reserve chairman Herman Cain raised almost $2.5 million.
Former IRS tax attorney Michelle Bachmann, Rick Santorum, and Gary Johnson all have until July 15 to file their financial reports. Although Bachmann officially began her campaign very close to the June 30 deadline, she raised a national record $11 million in her 2010 congressional race bid, and has a nationwide fundraising network.
President Barack Obama is expected to unveil an impressive take of around $60 million for the quarter in the coming weeks. This vast sum of money will likely keep him uncontested in the Democrat primary and may raise more than the entire GOP presidential field.
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