Cost of Failure: Supporters Doled Out Millions for Failed Candidates
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Brand X Pictures/Thinkstock(WASHINGTON) — Ron Paul’s announcement Monday that he will stop actively campaigning in the 11 remaining Republican primary states puts him within inches of becoming the eighth major presidential candidate to fall to Mitt Romney in this election.
If and when Paul decides to officially call it quits, his failed White House bid will have cost his backers more than $40 million, including spending from Paul’s campaign and the super PAC supporting him.
Indeed, those eight candidates’ campaigns spent a combined total of $132.7 million trying — and failing — to beat Romney in the GOP primary, according to an ABC News analysis of campaign disclosure data from the Center for Responsive Politics.
The number shoots up to $174.4 million in bad investments when super PAC spending to support those candidates is taken into account.
Here’s a look at the hefty cost of failure that comes with running an unsuccessful presidential campaign:
— Ron Paul: $40.2 million
— Newt Gingrich: $39 Million
— Rick Santorum: $26.8 million
— Rick Perry: $25 million
— Herman Cain: $17 million
— Jon Huntsman Jr.: $11 million
— Michele Bachmann: $10 million
— Tim Pawlenty: $5.2 million
Copyright 2012 ABC News Radio