Former Massachusetts Gov. Mitt Romney, who announced his bid for the Republican presidential nomination Thursday, might be the establishment frontrunner in the 2012 Republican primaries, but Herman Cain thinks campaign cash is the only real threat Romney poses.

“We’ve got to beat Mitt Romney’s money, not Mitt Romney,” Cain said.

Cain thinks Romney’s deep war chest gives the perceived frontrunner an “advantage.” Even so, Cain said he doesn’t think Romney’s “message is stronger than” his. “I don’t think his business background is any more impressive than mine,” Cain said. “He just happens to have a deeper war chest and you can do a lot of things in terms of hiring staff, putting together programs, so we just basically have to work smarter with the dollars we will raise.”

Romney is, indeed, a formidable fundraiser. In 2007 alone, he raised $88.5 million (although $35.4 million came from his own pocket). More recently, he raised $10.25 million in a single day.

Cain has said in the past he’s not worried that his Political Action Committee has only amassed a small stockpile. But these most recent comments suggest he’s also aware of just what money means in a campaign — a make-or-break factor. Without a doubt, Cain — and, indeed, anyone who wants to be a serious contender in 2012 — will have to raise appalling amounts of money. But while money might supply an “advantage,” it doesn’t make the man — or the message that engenders donations in the first place.

It’s worth remembering that Romney’s prodigious campaign cash didn’t earn him the nomination in 2008. It’s also worth remembering that a consummate campaigner — think Barack Obama — doesn’t automatically make the best president. It might be prudent for a candidate to acknowledge that the best campaigner typically wins the election, but it’s more right for him to remain focused on what he can bring to the table — because, in the end, that’s what brings money to the table anyway.