Paul: 'We Will No Longer Spend Resources'

By: Associated Press

Posted: Mon 2:17 PM, May 14, 2012

WASHINGTON -- Ron Paul says he is done spending money on his campaign for the Republican presidential nomination.

Paul on Monday issued a statement that insisted he would continue the fight for delegates, taking the battle to the GOP convention in Tampa. But the favorite of libertarians and tea partyers says he would no longer spend "many tens of millions of dollars we simply do not have."

Mitt Romney is 178 delegates shy of the 1,144 needed to capture the nomination, and Paul faces an all-but-impossible task of catching him. Paul's supporters have been causing trouble at local delegate selections but are unlikely to derail Romney's route.

Paul, a longtime congressman, is not running for another term to represent his Texas district.

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Paul: 'We Will No Longer Spend Resources'

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