Romney’s Fundraising Stagnates, Advantage Decreases

Mitt Romney has had his worst fundraising month EVER this past January. Taking in only $6.9 million dollars, the Romney campaign is starting to feel the financial pinch. Romney spent more than $18.7 million dollars for the month of January to take on Newt Gingrich and Rick Santorum.

Things did not work out the way that the former Massachusetts wanted to them to. January wasn’t his month and February isn’t looking so much brighter.

One of Romney’s biggest problems is his inability to connect to the middle class. While Gingrich and Santorum raised similar amounts of money for the month of January almost 50% of their donors donated $200 or less. 82% of Romney donors were wealthy donors who gave the maximum allowed to a political campaign, $2,500. For Romney this is a huge problem because as the rich max out their giving, he seems to have no where else to go for more money.

Pundits are saying that if his fundraising continues to flounder, especially if he loses his home State of Michigan next week, he may have to dip into his personal fortune in order to stay competitive in future races. While he wouldn’t really notice the money missing (Romney is estimated to be worth more than $200 million dollars) it would further project an image of an out of touch rich guy with little grassroots support.

Romney and Santorum are in a virtual tie in Michigan according to some polls, and all the rest have Satorum way ahead. If he loses Michigan he will most likely see his fundraising further erode.

Do you think Mitt Romney is losing his edge?