If there is one thing the super-rich are generally good at, it’s knowing when to stop throwing good money after a bad investment.
Since Mitt Romney’s “47 percent” video comments have gone viral, the 2012 GOP presidential hopeful has struggled to keep up with President Obama in the polls and is looking more and more like a bad investment.
The American Crossroads super PAC, funded primarily by the Koch brothers, may be ready to spend their money on down-ballot candidates they think have a better chance of winning than Romney.
“Sources familiar with Crossroads spending say that there are no plans for changes now,” according to Politico. But “other sources” say they are not ruling out cutting back on Romney campaign funding soon, if Obama outshines Romney in the upcoming debates.
The suggestion from big-money super PAC donorshinting that Romney may lose is yet another sign of the rumblings going on behind closed doors with Republican Party supporters.
Romney has had a series of gaffes during the course of his campaign, ranging from offensive comments during a visit to Europe, showing poor judgment in his timing of comments after the murder of four U.S. diplomats in Libya, and lingering questions over his failure to release more than two years of tax returns.
However, Romney’s worst blow to his public image was Mother Jones' release of a secretly taped video of Romney at a $50,000-a-plate fundraiser in Boca Raton, Fla., in May.
There, Romney was recorded saying that 47 percent of the U.S. population consisted of government-dependent freeloaders who don’t pay taxes and expect “entitlements,” including housing, “health care” and “food.”
Romney was widely criticized for writing off nearly half the country, saying that his job was "not to worry about those people.”
More than 8 million people worldwide have watched the now-famous Romney video, and with the exception of a handful of salaried GOP pundits like RNC Chair Reince Priebus, the reviews have not been favorable.
Many believe the Romney slide really began after less-than-stellar performances at the RNC in Tampa in August. Most notably damaging was Rep. Paul Ryan’s vice presidential acceptance speech, where he was found to have told several lies, and an appearance by actor Clint Eastwood, who spoke to an empty chair pretending to be having a conversation with President Obama.
What all this may be telling Romney super PACs and supporters is that money can’t buy a good reputation for a candidate, so there is no point in wasting it on a sinking campaign.
According to the Huffington Post, “After banking more than $20 million through the middle of the summer to beat President Barack Obama, Restore Our Future, the super PAC supporting Republican presidential nominee Mitt Romney, ended August with only $6 million cash on hand.”
The Romney campaign’s small-money donations also are shrinking, along with Romney’s poll numbers.
As a last resort, Republicans have been trying to defend their voter-suppression laws, which disproportionately block voting by blacks, Hispanics, the elderly, the poor and other groups that tend to vote for Democrats.
Many of the GOP-sponsored voter ID laws have been struck down as discriminatory, but there are still a few key swing states that may not have rulings until shortly before Election Day, leaving millions of voters without enough time to obtain the necessary documents to vote.
After months of voter fraud propaganda from Republicans touting the need for voter ID laws, the non-partisan Brennan Center has proven that “one is more likely to be struck by lightning than to commit voter fraud.”
If nothing else, Republicans have demonstrated their determination to dismantle democracy in as many ways as they can if money is simply not enough to get their way in the next election.
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Watch the full secret Romney video on Mother Jones