http://www.guardian.co.uk/world/2011/oct/14/mitt-romney-millions-republican-raceRepublican frontrunner Mitt Romney is burning through millions early on in an effort to establish a strong organisational network capable of seeing off challenges from Texas governor Rick Perry and former pizza businessman Herman Cain in the presidential race.
Romney's campaign team disclosed Friday he had raised $14.2m in the third quarter, putting him in second place behind Perry in terms of donations. But he appears to be spending at a fast rate, having gone through an estimated $18m over the past six months.
Perry raised $17m in the third quarter, but has so far been more modest in spending, with only $2m spent by the end of September. In past campaigns in Texas, Perry tended to save up money for advertising blitzes closer to election dates, but his poor poll ratings might yet force him to spend sooner than that.
Romney's fundraising figures were released as Perry attempted to regain ground with a round of television morning shows followed by a speech setting out an economic plan for fresh drilling in the US that he claimed would create 1.2m new jobs.