Tuesday, April 03, 2007

Romney Cash on Hand   [Rich Lowry]

I posted earlier about Romney getting asked abut his cash-on-hand number. I'm told that that number will be "at least" $11.3 million, and could go a little north of that. I'm told that would make his "burn rate"—i.e., the percentage that he has spent of the money he has raised—51%. The $11.3 cash on hand would be in the ballpark of what McCain raised in the quarter. Also, a source in the Romney camp provides some historical background by way of showing that 51% is a very respectable burn rate. Bush was a champion at frugality, with just a 35% burn rate in the first three quarters of 1999. Of the other candidates in the same time frame in 1999, Forbes had a 100% rate, McCain 85%, and Dole 91%. In the first three quarters of 2003, Dean had a rate of roughly 50%, Edwards 66%, Kerry 53%, and Lieberman 65%. I'm in no position to independently confirm these numbers (awaiting a Romney town hall here in NH), but I pass them along fwiw.

04/03 05:07 PMShare