I know it’s unwise to trust the New York Times, but I still (mostly, kind of) trust them to do basic arithmetic. So this can’t be good:
Two of the leading Republican presidential candidates spent more than they raised this summer, according to campaign finance reports filed yesterday, in another sign of the fund-raising difficulties the party faces as it seeks to hold on to the White House.
It gets worse:
Mitt Romney, the former Massachusetts governor, raised $9.5 million in contributions over the summer but spent more than twice that, $21.3 million.
Mr. Romney, a wealthy businessman, lent his campaign $8.5 million over the summer, and even with that large loan, which helped pay for a big television ad campaign, his expenses still outpaced his receipts. His campaign reported that it had $9.2 million in the bank that could be used for the primary elections.
Rudolph W. Giuliani, the former New York City mayor, raised more money than any other Republican this summer