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agree with the rapidly emerging CW on the debate: Bachmann did quite
well, Mitt is unscathed, Newt is still a non-starter and Tim Pawlenty
made a mistake in starting a fight before the debate that he wasn’t
prepared to wage in the debate. That said, it is still way too early —
even in New Hampshire — for this debate to have much real impact on
actual voters. New Hampshire and Iowa voters love to change their minds
and plenty of future debates will give them that chance. So did this
debate mean anything at all in the real context of the race?
Yes, but not for voters. The impact was under the surface. Like a
torpedo.
(See the top 10 debate flubs of all time)
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now there is a fierce underground battle being waged over high dollar
campaign donors. If you can’t raise money now, before the voters care,
you will not have the resources you need to communicate with them when
they do tune in. Organizing multiple states, waging straw polls, flying
around raising money and running loads of TV and radio is all very
expensive. Without constant fuel, a campaign locomotive grinds to a
halt. For lesser known candidates like Tim Pawlenty this can create a
cruel feedback loop; you need money to buy your way up in the polls,
yet without good poll numbers it is very hard to raise money.
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debates are important because if you get good media reviews, you can
aggressively peddle those to old and new donors to raise money.
(How Romney skated to victory)
Like weary troops or early investors in Broadway musicals, donors to
candidates registering at 5% in the polls live on hope. Good early
process reviews provide that hope. Donor phones come alive.
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staring to move up in… IA/NH/The North Barneyville straw poll!!” Sadly
for Pawlenty, he did not get the clips he needed last night. Worse, his
donor machine will get bad news instead of good. That’s a terror weapon
for Huntsman and Romney. I’ll bet Mitt might be making a few calls to
top Pawlenty donors today, thanking them for watching, expressing
respect for their deep and touching loyalty to his good friend Tim and
letting them he know he’d be happy to be their second choice… just in
case things, well, don’t work out. We do need to unify, to beat Obama…
Donors take those calls. Nearly every big donor has a plan B.
Enthusiasm lags. Less pounding on the donor’s business contacts in
Detroit or St. Paul for that extra check. The money wheels slow down
and the bank account gets thin, just as the Iowa straw poll ramp-up
costs start to mount.
(What you missed while not watching the debate)
It’s cruel, but national politics is not for the faint-hearted.
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No doubt Tim Pawlenty is still a formidable candidate. Other candidates
are going to have bad debates and feel pain. Some are already dead men
walking, while Pawlenty is certainly alive. But he needs money now and
deep under the surface of the campaign noise, in the essential bone and
muscle of the his fund-raising organization, that faint noise you can
hear today is one rib quietly cracking.
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