Ron Paul's campaign spent more money than it raised in February. Ron Paul campaign bleeds cash

Ron Paul’s flagging presidential campaign is also bleeding cash, spending more money than it raised in February and finding itself with less cash on hand than during any other point this election cycle, federal filings show.

Paul ended February with about $1.37 million in his campaign account — a pittance for a political campaign competing nationally.


The veteran Texas congressman has yet to win a primary or caucus contest, save for a partial caucus victory in the U.S. Virgin Islands, and he badly trails Republican presidential rivals Mitt Romney, Rick Santorum and Newt Gingrich in delegates amassed.

At this juncture, Paul winning the GOP presidential nomination is a near impossibility.

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During February, Paul’s campaign raised $3.27 million while spending about $3.55 million, according to his latest filing.

Top expenditures include postage and mail processing ($921,700), political strategy consulting ($410,600), campaign merchandise ($294,000), airfare ($257,200), advertising ($144,344), shipping ($142,500), salaries ($117,000), hotel accommodations ($113,000), telemarketing ($88,300) and rental cars ($79,700), an analysis of Paul’s February filing indicates.

Paul’s campaign in January raised a comparatively robust $4.48 million and spent $5.23 million, ending the month with about $1.64 million. During the fourth quarter of 2011, Paul raised $13.32 million.

Such declining campaign finance health coincides with the decision by Endorse Liberty, a super PAC supporting Paul, to reassess its efforts and consider broadening its support to other political candidates.

Federal records show Endorse Liberty hasn’t made an independent expenditure on behalf of Paul since March 6, while super PACs supporting Romney, Santorum and Gingrich together have spent millions during that time.

Paul’s campaign is the first among major presidential candidates to file financial disclosure reports covering February.