Ron Paul Finished Spending on Campaign

by InvestorPlace Staff | May 14, 2012 5:29 pm

[1]Ron Paul may be the last man standing against Mitt Romney in the Republican presidential primaries, but it is becoming increasingly clear that he doesn’t have much of a leg to stand with. The latest proof? Paul has announced that he will no longer be spending money to campaign in states[2] that have yet to hold their primaries.

Paul, who has won 99 delegates[3] to date, released the following statement today:

We will continue to take leadership positions, win delegates, and carry a strong message to the Republican National Convention that Liberty is the way of the future. Moving forward, however, we will no longer spend resources campaigning in primaries in states that have not yet voted. Doing so with any hope of success would take many tens of millions of dollars we simply do not have.

Paul’s campaign has scaled down gradually over the course of the campaign season, going from chartered planes and event-staging at Iowa and New Hampshire to rallies and town halls on college campuses in primary states after failing to win any caucus states on Super Tuesday. The decision not to spend money to campaign further comes with some Paul-friendly primaries still upcoming. Arkansas and Kentucky (where Paul’s son Rand is a senator) on May 22, his home state of Texas on May 29, and June 5 in Montana and California are all states in which Paul’s ideas have resonated well in the past.

Paul must have realized some time ago that his value to the primary process was less in his ability to win it, and more in his ability to influence the platform at the Republican National Convention. It looks more and more likely that we will have to wait until the convention, scheduled for August 27-30 in Tampa Bay, to see how well his ploy has played out.

— Benjamin Nanamaker, InvestorPlace Money & Politics Editor

The opinions contained in this column are solely those of the writer.

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