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Romney reports first debt of campaign

Discussion in 'Political Discussion' started by Hebeill, Sep 19, 2012.

  1. Hebeill

    Hebeill 2nd Team Getting Their First Start

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    And i thought Romney and Ryan were suppose to be the fiscally responsible ticket. They seem to have spent more then they've taken in.

    Romney Reports First Debt of Campaign - Yahoo! News

    DALLAS - For the first time in this campaign, Mitt Romney's campaign is $11 million in debt after borrowing $20 million in August.

    The debt and borrowing sums were first reported by the National Review Online and confirmed by ABC News.

    The campaign borrowed the money from the Bank of Georgetown, according to the report.
     
  2. Drewski

    Drewski In the Starting Line-Up

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    Does this type of thing happen in many campaigns?

    Not attempting to defend, just honestly don't know the answer.

    I will say it makes me sick every time numbers get thrown around regarding how much it costs to run for POTUS. Just think if we used these amounts of money for actual things to better our country.....

    Is it any wonder why our system is broken?
     
  3. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    #87 Jersey

    The amount of campaign spending is proportional to how horrible hour campaign is going.
     
  4. Hebeill

    Hebeill 2nd Team Getting Their First Start

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    I'm sure it does but Mitt is Suppose to be the F-i-s-c-a-l-l-y Responsible candidate, and says that Obama is fiscally irresponsible. But now whos spent their money and had to Borrow more?
     
  5. Drewski

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    If he is running as a Modern Day Republican, that is no longer a part of their platform ;)
     
  6. wistahpatsfan

    wistahpatsfan Pro Bowl Player

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    #75 Jersey

    How in the name of Santa does the Bank of Georgetown give out a loan to a political campaign? What the hell are they thinking? Is that normal? If I had assets in that bank,- regardless of who was getting the loan- I'd go right over and close all of my accounts immediately!
     
    Last edited: Sep 19, 2012
  7. Patradomous

    Patradomous In the Starting Line-Up

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    #87 Jersey

    Borrowing money doesn't mean your broke.

    Romney is going to be unleashing hell with a carpet bombing of Obama in a few weeks. There is also a rumor Romney has something big on Bambi. And its going to cut loose with a coordinated carpet bombing.
     
  8. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Obama Campaign Taps Cash Reserves, Adds Debt in July - ABC News



    The issue is cash flow just like with any other business.
     
  9. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    Did you ever notice that any Republican in this area running for office, never affiliates with Romney and they do not show any affiliation with the RNC in general.

    Watch Scott Brown, he is running so fast and far from Romney is it unbelievable, he has Obama in his ads more than Romney.. during the primary season there were ads for candidates from the Republican Party who never mentioned the Republican Party..
     
  10. Drewski

    Drewski In the Starting Line-Up

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    I think that phenomena makes perfect sense Darryl.

    Republicans up in this neck of the woods - RI/MA/NH are typically your more "traditional" Rs - for small government (real small gov), being fiscally responsible, and truly "live and let lives". Fiscally Conservative, Socially "Liberal". Some might say Republican in Name Only.

    The National brand being sold as Republican now a days is not that. The current Republican brand is Democrat Spending, Lower Taxes and Wage War...with a side of Jesus.
     
  11. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    Romney learned how to deficit spend from his idol, Ronald Reagan..
     
  12. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Linc Chaffee and Snowe are hardly fiscal conservatives. I wish they had been. Sadly there have been nearly enough real fiscal small government conservatives, hence the Tea Party as a response to the profligate spending by pols from both parties.

    Frequently choosing between the pubs and dems has been like choosing between the flu and the ebola virus.
     
  13. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    But you fail to mention your party?? No pride at all??

    Run as an independent, they affiliate with this crazy train, even though they do not want to identify with it.
     
  14. Drewski

    Drewski In the Starting Line-Up

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    Are they not? Or are they for spending money on things you don't like and not for spending on things you do like?
     
  15. Drewski

    Drewski In the Starting Line-Up

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    I don't have that answer D, but maybe it is along those lines....

    Independent seemingly in many circles is a Scarlet Letter.
     
  16. Real World

    Real World Moderator Staff Member

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    The fact that it was August says it all. Mitt Romney can only spend his primary money until he is officially the named the nominee, and that happens at the convention. Once the convention takes place, he and his campaign are then free to use their post primary, presidential campaign funds. We discussed this about a month ago in here. There are restrictions on primary, and post primary spending.

    It's more or less mentioned in the article you linked.

    All this loan represents is a bridge to get from preconvention, to post convention. Someone mentioned cash flow, and that in a sense is what it is. Romney was more or less the unofficial nominee for some time now, and simply wasn't able, until the convention, to use the money he had raised for his presidential run.
     
  17. Holy Diver

    Holy Diver Pro Bowl Player

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    #80 Jersey

    Mark my words....

    Mitt Romney will "Bain Capital" the GOP.

    By the time he is done, they will be broken up and sold. Mitt will, of course, make a lot of $$ somehow, and the former employees will be left holding their reproductive organs for the former members to fight over how to legistlate the collective intrusion of how to handle said organs.

    Its begining.
     

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