LAKE JACKSON, Texas – Ron Paul says he is done spending money on his campaign for the Republican presidential nomination.
"Our campaign will continue to work in the state convention process. We will continue to take leadership positions, win delegates, and carry a strong message to the Republican National Convention that Liberty is the way of the future," Paul said in an email posted on his website.
Mitt Romney is 171 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, the favorite of libertarians and tea partiers, says he can’t compete with Romney’s bank account so it’s pointless to campaign in states that haven’t yet voted.
"Doing so with any hope of success would take many tens of millions of dollars we simply do not have," he wrote.
Paul, a longtime congressman, is not running for another term to represent his Texas district.