If money is what really matters in politics, the Republican presidential contest is already a two-man race.
Rick Perry and Mitt Romney are sitting on four times as much cash as the rest of the GOP field combined, giving them a commanding edge in resources in the final weeks before Republican voters begin casting ballots, according to new campaign disclosure reports.
Fundraising by the presidential candidates to date.
Other GOP hopefuls, such as the surging Herman Cain, argue that a strong message that resonates with grass-roots voters will propel them to victory, with or without hefty campaign treasuries. But history suggests that presidential nominations are ultimately won by organization, media exposure and lots of face time with voters — all of which cost plenty of money.
Romney has raised more than $32 million so far this year and still has about half that much in the bank to help pay for staff, grass-roots organizing and television ads in New Hampshire, Iowa and other early-voting states. Perry, meanwhile, raised money at the rate of $2.5 million a week after his splashy entrance into the campaign, giving him even more cash on hand than Romney at the close of last month.
Their financial dominance gives Perry and Romney a significant leg up as they attempt to overcome steep challenges in the weeks ahead. For Romney, that means breaking through a ceiling of support that has kept him stalled for months at about 25 percent in national and state polls as GOP primary voters flirt with a shifting list of alternatives.
And for Perry, the money gives him a fighting chance to reverse a disastrous slide in popularity in recent weeks. After a barnstorming start in which he overtook Romney, the Texas governor’s standing plummeted with a series of weak debate performances and his defense of a tuition program for children of illegal immigrants that angered many conservatives.
“Fundraising is obviously an important part of the campaign process. It allows you to run a competitive campaign,” said Perry spokesman Mark Miner. “This race is going to be won in the states during these early primaries. That’s where our focus is going to be. The goal is to use all available resources to win.”
Others in the GOP field, however, note that the race is still volatile and insist that a strong message and enthusiastic grass-roots support will enable them to compete. Both Perry and Romney rely heavily on deep-pocketed donors who give up to the $2,500 maximum under federal election rules, with relatively few contributors giving $200 or less. They also have the benefit of well-funded “super PACs” founded by some of their closest aides that can raise and spend unlimited funds to help them win the nomination.
Cain, a former pizza executive who has vaulted to the top of recent polls, said this weekend that “money isn’t what’s driving my momentum — my message is driving my momentum.”
“When you hear about all of the money that’s being raised by other candidates, and this Cain campaign has a measly million dollars in available funds, do not fret, my friends,” the candidate said at a fundraiser in Cookeville, Tenn., on Saturday. “Because message is more powerful than money, because of you, the people.”
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