Republican presidential candidate Ron Paul outraised fellow Republican candidate and former House Speaker Newt Gingrich by more than $3 million in the fourth quarter of 2011.
According to paperwork submitted by the Ron Paul 2012 Presidential Campaign Committee Inc. to the Federal Election Commission Tuesday, Mr. Paul hauled in $13.32 million between October 1st, 2011 and December 31st, 2011.
On the other hand, paperwork submitted by Newt 2012 to the FEC reveals that Mr. Gingrich pulled in $9.82 million during the last three months of 2011.
The paperwork submitted by both presidential campaign committees discloses that Mr. Paul outraised Mr. Gingrich by $3.5 million. Mr. Gingrich’s paperwork also reveals that Newt 2012 is still in debt. The Georgia Republican’s campaign owes nearly $1.2 million. Mr. Paul, however, is not in debt. The Texas congressman’s campaign owes zero dollars.
Despite Mr. Gingrich’s fundraising issues, the Georgia Republican managed to win the South Carolina Republican primary on January 21st. However, Mr. Gingrich lacks the fundraising power to stay competitive against former Massachusetts Governor Mitt Romney. According to paperwork submitted by Romney for President Inc. to the FEC, Mr. Romney brought in $24.3 million during the fourth quarter of 2011.
Although Mr. Paul has not won a primary or caucus, the former Air Force surgeon continues to rake in cash from grassroots fundraising campaigns. The bulk of Mr. Paul’s fourth quarter cash was pulled in during his “Veterans Day,” “Tea Party” and “South Carolina” money bombs.
Both Mr. Paul and Mr. Gingrich have vowed to stay in the race for the Republican presidential nomination until the Republican convention in August.
“We’re going to stay in and see what comes of it,” Mr. Paul said on CNN’s “State of the Union” Sunday. “There have been a lot of ups and downs so maybe there will be some downs and we will be able to pick up the pieces,” Mr. Paul told CNN’s Candy Crowley.