This is coming from National Review, so we must confirm from other media. Romney borrowed 20 million in August! Mr Businessman spent more than what he took in. Can't make this shit up. Romney is a disaster.
Before the Republican National Convention, Mitt Romney was the Republican nominee in all but name. By law, however, he could only spend primary donations until he officially became nominee. To increase cash flow during the interregnum, the Romney campaign borrowed $20 million.
“We realized that we could collateralize this debt with $20 million of general-election funds that were already sitting in our bank account,” a senior Romney aide says, speaking exclusively with National Review Online.
So far, $9 million has been paid back. Five million was paid back before the end of August and an additional $4 million has been paid back in September.
This is a weird campaign.
Here's WAPO http://www.washingtonpost.com/...
6:39 PM PT: Mitt Romney raised 111 million dollars, but spent 129 million.
6:49 PM PT: WAPO: DALLAS — Mitt Romney’s presidential campaign borrowed $20 million in the month of August to pay for its expenses before he could begin tapping general election dollars and is now $11 million in debt, a senior campaign official confirmed late Tuesday.
Romney’s campaign finance filings, due to be released on Wednesday, will show the campaign with $15 million in debt, the official said, although the debt currently stands at $11 million.