Mitt Romney’s presidential campaign spent more than $66 million in August, ending the month with $50 million in the bank, new federal disclosure reports show.
Romney for America’s August expenditures were largely focused on paid media and production ($18.4 million), direct mail consulting, printing and postage ($12 million), travel ($ 4.5 million), online advertising ($3 million), payroll ($3.2 million), telemarketing ($2.3 million) and polling ($2.2 million), according to its report.
Early summer Romney had a big cash advantage over Obama and up until the conventions he continued to have a cash advantage. Many questioned whether Obama could remain competitive with his cash burn rate. Now, all of the sudden, Romney is the one facing cash problems. Where did the money go -- the Cayman Islands?