Romney Uses Campaign Funds to Purchase Hoboken, New Jersey

HOBOKEN, NJ - In what was a stunning political gamble Tuesday, presumptive Republican presidential nominee Mitt Romney poured virtually all of his campaign funds into purchasing the city of Hoboken, New Jersey, a campaign source said.

Mr. Romney, who is looking to challenge incumbent president, Barack Obama, in November's election, is believed to have leveraged a deal worth $150 million for the city, which houses roughly 50,000 residents and is a part of the New York metropolitan area.

Hoboken, notable for its high ratio of Democratic leaning voters, will undergo an overhaul over the next four months, as campaign staffers prepare to transform the wider area into a giant advertising gateway for Romney 2012.

"Mitt Romney wants Hoboken, New Jersey to become the poster child for his America - an America which he will one day purchase in full," said one campaign source. "Your campaign donations are very welcome."

Democrats in congress have criticized the deal, insisting that the purchase of an entire city by someone seeking political office is "highly unconstitutional."

"Romney has once again displayed just how out of touch he is," said Congressman Frank Lautenberg. "To buy an entire city - not to mention its people - is a clear violation of people's right to liberty. Last time I checked, the American electorate was pretty fond of its right to liberty."  

Despite a backlash from the left, however, the deal is thought to be a precursor to an eventual Romney-takeover of the state of New Jersey, as well as Lower Manhattan, New York.