Romney campaign IN THE RED?

[kylebrotherton]

I'm not an economist, and have never done much accounting...

But isn't Romney's campaign technically in the red? He has $9 million on hand (at end of Q3). That includes the $15 million he's loaned to his campaign.

So isn't the Romney for President PCC out of donation money? Without Mitt extending a line of credit (http://www.washingtonpost.com/wp-dyn/content/article/2007/09/29/AR2007092901537.html)to his campaign, it seems they'd be about $6 million in the hole. Right? Am I figuring this correctly?

[Zydeco]

I'm not an economist, and have never done much accounting...

But isn't Romney's campaign technically in the red? He has $9 million on hand (at end of Q3). That includes the $15 million he's loaned to his campaign.

So isn't the Romney for President PCC out of donation money? Without Mitt extending a line of credit (http://www.washingtonpost.com/wp-dyn/content/article/2007/09/29/AR2007092901537.html)to his campaign, it seems they'd be about $6 million in the hole. Right? Am I figuring this correctly?

If you're wrong, I don't see where it is.

What paper tigers these "frontrunners" are.

[Marshall]

I'm assuming that since he loaned the money to himself he can also forgive the debt to himself if his campaign doesn't find a printing press to pay him back with.

[kylejack]

Correct, however, at any time he can relieve his campaign of the debt and just sacrifice the money. He doesn't absolutely have to be paid back.

What I'm saying is that his money is still 'live'. It can still be used for paying off bloggers, commercials, print ads, fancy haircuts and whatever else.

[quickmike]

I'm not an economist, and have never done much accounting...

But isn't Romney's campaign technically in the red? He has $9 million on hand (at end of Q3). That includes the $15 million he's loaned to his campaign.

So isn't the Romney for President PCC out of donation money? Without Mitt extending a line of credit (http://www.washingtonpost.com/wp-dyn/content/article/2007/09/29/AR2007092901537.html)to his campaign, it seems they'd be about $6 million in the hole. Right? Am I figuring this correctly?

Yes you would be correct on that. Let me give it to you from a scientific and mathematical standpoint. HUGE loan in the 2nd quarter + another HUGE donation in the 3rd = A SHITLOAD OF DEBT + NO REAL SUPPORT
I hope I didnt confuse you with all those numbers and algebra that I like to use.:D

[LibertyEagle]

Yes you would be correct on that. Let me give it to you from a scientific and mathematical standpoint. HUGE loan in the 2nd quarter + another HUGE donation in the 3rd = A SHITLOAD OF DEBT + NO REAL SUPPORT
I hope I didnt confuse you with all those numbers and algebra that I like to use.:D

:D :D

[DjLoTi]

Mitt has raised more then he has loaned throughout the campaign.

[Marshall]

Correct, however, at any time he can relieve his campaign of the debt and just sacrifice the money. He doesn't absolutely have to be paid back.

What I'm saying is that his money is still 'live'. It can still be used for paying off bloggers, commercials, print ads, fancy haircuts and whatever else.

Well, when you're worth 1/4 of a billion, whats 15 mil after all.

[kylejack]

Well, when you're worth 1/4 of a billion, whats 15 mil after all.
6% :)

[kylebrotherton]

Mitt has raised more then he has loaned throughout the campaign.

But it looks like he spent all of the donation money, and all he has left is a portion of his personal loans.

[DjLoTi]

I believe he is 500,000$ above water.

[quickmike]

Mitt has raised more then he has loaned throughout the campaign.

Yeah, but how much


I mean, you could say he donated 9 million and spent 15 million and raised 10 million from supporters and that would still mean he raised 1 million more than he donated but hes only got 4 million in the black.

Just made up numbers here, but you get the idea.

[DjLoTi]

I think he's raised something like 44 mil

[kylebrotherton]

I believe he is 500,000$ above water.

No. That number ignores loans he gave his campaign during the first and second quarter. Mitt Romney loaned his PCC about $8.5 million during Q3 alone, and has only $9 million on hand. But total loans are closer to $15 million.

[quickmike]

I think he's raised something like 44 mil

Nooooo....... really? Just from other people, or including the loans to himself?

[expatriot]

Gee, and I thought there was a 2300$ limit on how much an individual
could contribute to a campaign.

So much for that idea...

[angelatc]

Yes you would be correct on that. Let me give it to you from a scientific and mathematical standpoint. HUGE loan in the 2nd quarter + another HUGE donation in the 3rd = A SHITLOAD OF DEBT + NO REAL SUPPORT
I hope I didnt confuse you with all those numbers and algebra that I like to use.:D

I actually am a cost accountant by trade and I'd agree that's a pretty fair assessment.

[angelatc]

Well, when you're worth 1/4 of a billion, whats 15 mil after all.

Funny thing about rich people. They're generally pretty good with money.

[Fred McRomliani]

Bill Gates for POTUS.