Big states that are expensive to have a campaign presence in are up next in the GOP primary, and they aren't going to be too friendly to the candidates' dwindling coffers. Seven primaries were held in February, and the contenders drained their funds in order to perform well in the high-stakes contests: Romney spent over $12 million while raising $11.5 million; Santorum raised $9 million, but spent $7.6 million; and Newt Gingrich spent $1.5 million while raising $2.6 million.
Super PACs have become less of a supplement and more of a crutch as the GOP race plods on, keeping moribund campaigns alive. Foster Friess, who has helped keep Santorum afloat with regular cash infusions to the Red White and Blue Fund, said yesterday that the "role I needed to play is maybe accomplished." The super PAC ended the month with only $365,000 in the bank, compared with the $10.5 million still on hand for pro-Romney Restore Our Future, which has started to collect the Republican establishment donors who have been fueling Karl Rove's behemoth, American Crossroads. It isn't clear whether Sheldon Adelson—who has donated 85 percent of pro-Gingrich super PAC Winning Our Future's funds—will keep the distant third-place candidate's campaign afloat.
- What Paul Ryan’s Budget Actually Cuts — and By How Much Wonkblog
- Banks Seek Delay on 'Volcker Rule' The Wall Street Journal
- (Mostly) Made in America Bloomberg Businessweek
- 2 Federal Reserve Nominees Make It to a Confirmation Hearing The New York Times
Chart of the Day
The world's economic growth was still sluggish at the end of 2011, shrinking to 2.5 percent. The blame lies in part with Europe's strict austerity measures, oil prices, and the economic downturn still affecting many economies across the globe.
Reason to Get Out of Bed in the Morning
Here's a guide to having the best day ever, including—obviously—swimming in a pool of puppies.