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Romney, 'super PAC' burned through cash in January

February 20, 2012|By Matea Gold and Melanie Mason
  • Mitt Romney campaigns near Cincinnati, Ohio.
Mitt Romney campaigns near Cincinnati, Ohio. (Mark Lyons / Getty Images )

Republican presidential hopeful Mitt Romney and a "super PAC" working on his behalf churned through more than twice as much money than the two campaigns raised in January, underscoring the financial challenge the former Massachusetts governor faces as he tries to fend off rivals Newt Gingrich and Rick Santorum.

In a month in which Romney lost two out of the four GOP primary contests, his campaign raced through $18.7 million while raising just $6.5 million, according to campaign finance records filed Monday with the Federal Election Commission. That was nearly matched by Restore Our Future, a super PAC run by his former aides, which burned through nearly $14 million, more than twice than the $6.6 million it raised.

Heading into February, Romney had $7.7 million on hand, while his super PAC had $16.3 million in reserves.

GRAPHIC: Super PAC spending

His challengers lagged far behind: Gingrich pulled in $5.5 million, while Santorum and Rep. Ron Paul each pulled in $4.5 million.

President Obama, meanwhile, raised $29 million in January for his reelection and the Democratic National Committee, including $11.8 million for his campaign.

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