Rick Perry's Fourth Quarter Fundraising Drops to $2.9 Million

Chris Carlson/AP Photo

TAMPA, Fla. - Texas Gov. Rick Perry witnessed a drop in his fundraising in the final fundraising quarter last year, raising only $2.9 million between October and the end of December, a stark difference to his initial haul of $17.2 million in just 49 days during the third quarter when he first entered the race.

An FEC report filed today showed the Perry campaign started the quarter with just over $15 million cash on hand and raised $2.9 million between the three months. But the campaign quickly burned through the almost $18 million in cash, spending $14.2 million and leaving the campaign at the end of December with only $3.76 million on hand.

During the third fundraising quarter, the Perry campaign only spent $2.2 million.

The campaign ended the quarter with $93,745 in debt to Norway Hill Associates, the consulting firm of Perry's former chief strategist, Dave Carney, and Advantage Inc., which was listed as a printing and postage company based in Virginia.

Perry jumped onto the national stage with the promise of fundraising prowess, relying on his vast network of donors he cultivated during his time as Texas governor and head of the Republican Governors Association to draw in the cash necessary to compete with the likes of Mitt Romney. But his fourth fundraising quarter painted a different picture for a candidate who fell from political grace after stumbles in several debates, causing donors to question his electability.

Perry dropped out of the presidential race Jan. 19 in North Charleston, S.C., just two days before the South Carolina primary.

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