Mitt Romney Excels in Experience, Money, Business for 2012

Former Massachusetts Gov. Mitt Romney announced his official candidacy for president Thursday in New Hampshire. The announcement was live-streamed from his Facebook page, along with the message that "Barrack Obama has failed America." The Republican frontrunner tackled in the speech, among other issues, the country's economic woes, according to Yahoo! News. Romney has three distinct advantages among the GOP candidates hoping to reside in the White House: national exposure, superior fundraising capabilities and business experience.

National Campaign Experience

With the exception of Rep. Ron Paul, Romney is the only other GOP presidential candidate with national campaign experience, having also run for president in 2008. It's a distinction that shouldn't be considered lightly, as other candidates will have to acclimate themselves to being in the national spotlight. In addition to his political aspirations, Romney has long been the target of media attention, having headed the Salt Lake City Olympics.

Participating as a presidential candidate in the last election left Romney with a political operation that never really stopped working. After dropping out of the race and supporting Arizona Sen. John McCain, he formed the Free and Strong America Political Action Committee (PAC) to support other Republican candidates, including himself, according to Boston.com.

Biggest GOP War Chest

The Republican nominee will be facing a campaign fundraising juggernaut in President Obama. Top Obama fundraisers have been tasked with collecting $60 million in donations this June alone, part of a campaign whose financing the Chicago Sun-Times reports may hit $1 billion. Romney is the only declared GOP candidate with a war chest and the fundraising abilities that can even begin to compete.

Romney was able to raise over $9 million for his PAC in 2010, a year he wasn't running for office. That amount is nothing compared to the $10.25 million his presidential exploratory committee raised in one day in May.

Business Experience

It is on the business stage where Romney can take on not his GOP competition, but also Obama. As a businessman, Romney helped many businesses get a start, creating many jobs: something he touted in his announcement to run for president. Returning by invitation as the Bain & Company CEO in 1991, Romney turned a company in financial ruins into a success. He also used this business acumen to turn around the 2002 Salt Lake City Olympics.

This type of experience will look mighty tempting to a country still looking for jobs and a strong financial footing.