Even members of the Romney camp concede they are in uncertain territory.
Whereas in the past, candidates would have to drop out of the race because they could no longer raise the money to propel their candidacies, now Rick Santorum and Newt Gingrich can continue thanks in large part to the support of a single backer who donates to a super PAC supporting them.
Meanwhile, the fourth candidate in the race, Representative Ron Paul of Texas, bounds along as well with a steady stream of donations from his loyal libertarian followers. His super PAC, Endorse Liberty, raised a relatively low $2.4 million.
All that has prevented the oft-frontrunner from decisively pulling away from the pack.
The question now is whether Romney does something - in the debate, on the stump, with his personal wealth - to try to make that happen before a loss in Michigan fuels talk of a brokered convention or some other embarrassment for him.
In Santorum’s case, stock-picking expert Foster Friess continued last month to bankroll a supportive super PAC, contributing over $650,000 to the Red, White and Blue Fund in January alone. Campaign finance reports that were due at midnight show Louisiana energy executive William Dore chipped in another $1 million.
In the case of Gingrich, casino mogul Sheldon Adelson gave $5 million on Jan. 6 to the pro-Gingrich Winning Our Future super PAC, followed by a matching donation by his wife, Miriam, on Jan. 24.
The PAC spent $9.7 million during month - all of which could have been covered with just the two Adelson donations.
By contrast, the pro-Romney Restore Our Future super PAC tapped an array of donors - including a group of 30 repeat donors, The Associated Press tallied - to raise $6.6 million during January. It also more than doubled its income with $14 million in spending.
While the super PACs are legally prohibited from coordinating with a candidate’s formal political committee, they can relieve it of a tremendous burden by airing television commercials on a candidate’s behalf.
