Phil covered much of this but let me add a few points. First, had Romney not dumped $8.5M of his own money in he’d have been left with $500,000 — one tenth of Ron Paul’s cash on hand. Second, Romney folks will argue so what? They still get to buy ads and they still have that money to fund a multi-state effort. Likely they have more than Thompson and perhaps(no figures yet) Rudy. Third, it does say, Phil, that they have spent gobs of money to stay in the pack nationally and near or at the top in the early states but when others start to spend their money on ads that lead in Iowa may shrink and the NH lead may be gone for good. Finally, Republicans should be scared. Hillary added 100,000 donors this Quarter and Romney 23,000. Hillary raised over $20M and Romney $10M. That is a significant and potentially hobbling enthusiasm and financial gap and this alone will put the GOP nominee at a considerable disadvantage.