In what was predicted to be a historical day in politics, December 16, 2007, the so-called Ron Paul Tea Party Money Bomb has, well, bombed.
Supporters predicted breaking their previous held record made on November 5, 2007, by raising more than $4.3 million dollars in a 24-hour period.
If we look at a section of today's donations, we can estimate that the supporters will be wrong, far wrong.
The fastest growth of the day, so far, happened around 11am Eastern Standard Time. If we take the amount of money raised between 11am EST and 2pm PST, and multiply it out, we see that the money bomb will likely bomb.
As of 11am EST, the total raised for the quarter was about $17 million. As of 2pm PST, the total raised for the quarter was also $17 million, which means a total of $0 was raised between 11am EST and 2pm PST. $0 x 24 hours = $0, so we in the mainstream media believe that the money bomb will raise a total of $0 for the day.
To correlate that we are correct, we also compared a slight slower fund-raising time period, notably 9am EST and 12pm PST, and we also came up with an estimated $0 total donation for the day.
By using this standard and economically sound estimate based on the average money raised over a period of time, as is standard in other mainstream media outlets, we are assured that we are correct in this estimation. This same standard is used in many government projections to show that the cost of government is not going higher.
An interview with campaign supporters of Ron Paul show that they do agree that the campaign raised $0 between 11am EST and 2pm PST.