Paul is in a much better financial spot than other past presidential contenders. Ron Paul raised $1.78M in May

Although Ron Paul effectively ended his bid for the Republican presidential nomination weeks ago, you wouldn’t know by his fundraising.

During May, Paul raised $1.78 million and ended the month with nearly $3.3 million in the bank — more than he had at the end of April — with no debt, according to newly filed federal campaign finance reports.


While that’s a pittance compared with presumptive GOP nominee Mitt Romney’s cash stash, Paul’s financial position remains significantly better than those of fellow former contenders Rick Santorum or Newt Gingrich, who both owe creditors millions of dollars.

Paul himself acknowledges he won’t be his party’s nominee.

But his May fundraising is an indication that Paul’s passionate supporters remain willing to invest in his ideological push toward the Republican National Convention, at which he hopes to “grow our movement and shape the future of the GOP.”

And the longtime congressman from Texas received heartening news this weekend, when Iowa Republicans decided to primarily send Paul backers to the national convention more than half a year after state caucus-goers crowned Romney, then Santorum, the supposed winner.

Paul’s report indicated he spent nearly $970,000 in May, with more than $208,000 going toward consultants of various kinds — fundraising, field work, political strategy and trip planning.

Transportation ($165,500), hotel accommodations ($105,000) and salaries ($86,200) account for other significant expenses, his report indicates.