• Cruz Rocks Granite State With 3rd Place Win – Spent Less Than Anyone Else

    In Iowa, Marco Rubio won 3rd place and was treated as if he had won the whole thing by the media. Will Ted Cruz be treated as the victor for his 3rd place finish in New Hampshire?

    Don’t hold your breath. Cruz is no media darling. He appears to be more like the medias favorite whipping boy, but his 3rd place win is significant for several reasons.

    One reason is that he over-performed what was expected. He spent so little time there that finishing down on the list seemed  a forgone conclusion.

    Mr. Trump had solidly held the top spot in the polls for months in NH. Trump maintained that win in actual votes, winning a double digit win over his nearest opponent.

    Secondly, and perhaps most notably, Cruz spent so little money. By all accounts less than a million dollars. That’s less than Rand Paul spent in New Hampshire to not even be in the race.

    From Soshable:

    To place an unexpected third in New Hampshire, Ted Cruz and his super PACs combined to spend $580,000. This is less than Rand Paul or Lindsey Graham spent before dropping out. It’s less than Carly Fiorina spent on a state where she expected to get less than 5% of the vote. It’s even less than Donald Trump spent… much less. His $3.7 million on top of constant free media coverage meant that Trump was in every household multiple times in the week leading up to the primary.

    John Kasich, the other candidate who beat Cruz by placing second, did so by spending over 20x as much. It was a strong night for Kasich who wasn’t a blip on the radar in Iowa, but it also cost him the rest of the campaign barring a miracle; it took $12.1 million to get him second in New Hampshire, leaving him with less than $3 million cash on hand. Unless he can turn this second place finish into an unprecedented fundraising run, his campaign won’t have enough cash to survive into March. Pundits will paint his finish as a strong play for him, but he really needed to finish 1st to justify using nearly 80% of his campaign funds to earn three delegates.

    Meanwhile, Cruz has the most cash on hand and the second most super PAC money. As the other candidates proved in New Hampshire, cash isn’t everything. Jeb Bush, who finished fourth, spent $36.1 million. Marco Rubio outspent Cruz nearly 30:1 in New Hampshire to finish fifth. Chris Christie, who will likely drop out, spent even more than Rubio to finish sixth.

    Spending so small an amount to come in third is astounding given the fact that if history bears out, the nomination is already a two man race.

    Trump v. Cruz. No person has ever won the Republican nomination since the mid-seventies and not won either Iowa or New Hampshire.

    The slap in the face to Bush must really hurt. To spend $36 million and lose to Cruz, must be causing some soul searching at camp Bush.

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