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COLUMNISTS
TODAY'S STORIES
30.06.2008
What Would Romney's Money Do For McCain?

Via Jason, I see Mike Allen is reporting that Mitt Romney is now McCain's top veep prospect. The rationale, Allen says, is money:

One of the chief reasons the Massachusetts governor is looking so attractive is his ability to raise huge amounts of money quickly through his former business partners and from fellow members of The Church of Jesus Christ of Latter-day Saints, the Mormons.

McCain sources tell Politico that they believe Romney could raise $50 million in 60 days. One close Romney adviser said it could even be $60 million.

One thing I'm genuinely unclear on: If, as expected, McCain stays within the public financing system for the general election, how useful is the money Romney raises? Allen says Team McCain is likely to announce its veep choice shortly after Obama announces his, presumably in early August. Under the public financing rules, that would leave the McCain-Romney ticket about a month to spend any money it raises, which means Romney's ability to raise $50-$60 million in 60 days wouldn't necessarily be that helpful. Is it possible that McCain would follow Obama in opting out if Romney joins the ticket? (That would also free Romney to spend his personal wealth, no?*) Or would the money raised after the GOP convention just go to the RNC? Or would Romney start raising the money even before he was officially announced?

Thoughts welcome...

*The PR damage from opting out to tap Romney's personal wealth would probably be significant (not least because Obama would be able to remind us he opted out to tap millions of small donors)...

--Noam Scheiber

Posted: Monday, June 30, 2008 11:24 AM with 12 comment(s)

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blackton said:

As I said on the other thread, Mormon money is tainted money in the eyes of evangelicals. They are already very soft on McCain, taking (in their eyes) a cultist for money would spell almost certain doom.

McCain is 71 and it is even money he won't live his full term, that means a Mormon President. Evangelicals will stay home for sure.

I just don't know how it is that TNR is so ignorant of Evangelicals true feelings about Mormons. Jeremiah Wright is just a loudmouthed black preacher, someone they hate but they relate to, they simply can't relate to Mormons, and Mitt represents everything they dislike about them.

Obama sounds like an evangelical to them, they might not vote for him, but they won't rush out to vote against him. Mitt is the anti-evangelical. No amount of money will win them over and without them McCain is toast, and they will also view it as a snub of Huckabee.

I absolutely decry their viewpoints, I would vote for a Mormon in a second if I agreed with his policies, but lets not pretend that evangelicals would.

June 30, 2008 12:15 PM

tec619 said:

"What Would Romney's Money Do For McCain" Hmmm. Blpw him?

June 30, 2008 1:42 PM

tec619 said:

Jeez. If McCain needs Romney to enhance his fundraising, that doesn't signal strong support the the GOP presumptive nominee.

For that matter, Blackton is correct. Word of heavy Mormon contributions will dampen evangelical support. Heh, they've gotta hate somebody.

June 30, 2008 1:47 PM

michael said:

  That is interesting. McCain railed at Barack for allowing 1.5 million donors to stay with him so he might have thought about playing that card if this is even remotely possible. How would he explain taking the personal funds of his running mate?  There are probably some sound reasons for Romney on the ticket but if Mitt is cutting checks it would stink to high heaven.  Not so much the LDS connection but it would appear McCain auctioned off the job or Romney bribed his way in. The public doesn't seem to mind if a candidate taps their account for their race but this may be perceived as not for 'just Mitt'...and, well, it isn't.

  I don't know the law but tapping a rich running mate's bank account seems to violate the spirit & any person who is concerned with the integrity of campaign finances would say "no thanks". What is worse? Millions of individuals supporting a ticket or the #2 guy?

June 30, 2008 3:26 PM

virginiacentrist said:

This story was sourced using anonymous McCain staffers.

Many of these staffers have spent 12 months dealing with low fundraising and tight budgets. It's not surprising that they would overrate Romney's chances to Jonathan Martin.

June 30, 2008 3:28 PM

sabatia said:

I followed the Republican primaries quite closely--I'm a Boston boy and I wanted to follow our man Mitt. Blackton hits the nail on in head in his first post: Evangelicals despise Mormons and now know and despise Romney. Judging from Republican Southern primary votes, a majority of Evangelicals will sit this one out. They were already dissatisfied with McCain, but Romney is with the Devil!

Aside from the theological differences, Mormons and Evangelicals are fierce competitors for conversion in countries around the globe, particularly third world countries, Latin America, Africa, South Asia. The Evangelicals see a Romney near the highest office as legitimating the Mormon heretical or unChristian religion, giving the Later Day Saints a major leg up in the battle for conversions.

Beyond that, Mitt is a pandering self-promoting value-less slimeball. His religion was a non-issue in Massachusetts, the most "secular" state in the nation. Yet to try(and fail big time!) to convince the Christian Right/Evangelicals of his worthiness, in his speech on faith he made a point of speaking to the threat of "secularists". What a shameful little man.

June 30, 2008 10:09 PM

The Stump said:

The worthwhile blog Campaign Diaries elaborates on the reasons to be skeptical of the recent veep buzz

July 1, 2008 6:44 AM

The Plank said:

Politico 's Mike Allen reports that fundraising is a chief reason Mitt Romney sits atop the list

July 1, 2008 9:38 AM

GoodLiberal said:

Perhaps they could borrow the money up front in the expectation of paying themselves back when Romney is announced on the ticket.  Gives them longer to spend any money raised after all...

July 1, 2008 12:43 PM

jawright1965 said:

I'm amazed at those suggesting Evangelicals would not support McCain/Mitt.  Don't these people realize that the evangelical vote in the primaries was split fairly evenly between McCain, Mitt, and Huckaboo.  2/3rds of Evangelicals would vote for the ticket, just not the 1/3rd who voted for the Hucka-hypocrite.  Those bad mouthing Mitt are probably the Huckster's minions - the modern army of Pharisees who will find fault in everyone with a different opinion.

July 1, 2008 11:16 PM

The Stump said:

I meant to link to this earlier, but better late than never: In response to some of the questions we

July 2, 2008 7:23 PM

The Stump said:

In honor of today's Washington Post front-pager suggesting a McCain VP announcement is imminent,

July 25, 2008 12:24 PM