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Reply #48


Response to liberal N proud (Reply #28)

Thu Sep 20, 2012, 12:34 PM

48. yes, but read the article

http://www.huffingtonpost.com/2012/09/19/mitt-romney-campaign-loan_n_1897310.html

<snip>

The loan may come as a surprise, given that Romney trounced President Barack Obama in fundraising from May through July, but nearly all of that money was earmarked for the general election, which only began at the end of the convention.

<snip>

A senior Romney campaign official told National Review Online, "We realized that we could collateralize this debt with $20 million of general-election funds that were already sitting in our bank account." In other words, the campaign was able to obtain the loan based on the money donated for the general election.

<snip>

Despite the $11 million still owed on the loan, the Romney campaign is flush with campaign cash in both its own coffers and at the Republican National Committee. The campaign and the RNC combined had $168.5 million in cash on hand at the end of August, according to a release from the campaign. That kind of money will easily pay off the primary debt and fund advertising, targeting and get-out-the-vote efforts in the remaining weeks of the general election

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