Mitt Romney's campaign has been a model of efficiency and professionalism. But this hasn't translated into the kind of support nationally that makes him a viable candidate.

While Romney is doing very well in several early contests - he's ahead in Iowa, New Hampshire, and Michigan - in national polls Romney barely breaks into double figures. The latest Wall Street Journal/NBC poll has Mitt in 4th place nationally with 10% trailing McCain (15%), Thompson (23%) and Giuliani (30%).

And his fundraising has fallen off slightly. This past quarter, Romney announced that he raised $10 million, a decent amount but trailing Giuliani's $11 million effort. 

So Romney, in order to give his campaign a big boost, loaned his own campaign $8.5 million of his own money - more than he had loaned his organization for the entire year. He is going to need that boost now that Fred Thompson is in the race.

Thompson, who announced his candidacy only early in September raised a very respectable $9.3 million. What's more, Fred's receipts in September outpaced those of both Romney and Giuliani. Despite horrid reviews in the mainstream press (and even among some conservatives) regarding his presence on the campaign trail, it appears Thompson will have enough money to make a run at Romney and Giuliani in Iowa and New Hampshire.

What about John McCain? The Arizona Senator has been wowing the crowds in New Hampshire recently and it appears that his campaign has revived. But his $6 million in campaign receipts is barely enough to keep his head above water and he will have to raise twice that much between now and the end of the year to keep up with the media wars that are about to begin in earnest in Iowa and New Hampshire.

The GOP race appears to be tightening. Whether early Romney victories will propel him to national prominence and allow him to sweep the nomination as his strategy has been geared toward remains to be seen. And waiting in the wings if he falters are both Giuliani and Thompson who should be very well funded.