Joe Biden

As Trump Is Going Broke, Biden Is Stockpiling Cash

Last updated on March 2nd, 2024 at 06:04 pm

The presidential election is going to be close and it might be decided by Biden having money while Trump is going broke.

What Is The Difference Between The Biden And Trump Campaigns?

The difference between the Biden and Trump campaigns is fundraising. The Biden campaign can raise and stockpile money as Trump is struggling.

Bloomberg reported:

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Groups allied with Biden have already committed to spending more than $700 million to help him beat Donald Trump in the 2024 election, according to a political strategist familiar with national fundraising. That’s in addition to the $130 million his campaign reported having on hand at the start of February.

Trump’s financial situation, by comparison, is starting to show cracks. His campaign spent more than it raised in January and allied political action committees are spending millions on his legal defense that would otherwise go to reelection efforts. The Republican National Committee’s fundraising also lags behind its Democratic counterpart.

On top of that, Trump’s personal finances may be strained after court orders to pay a combined $540 million in damages from both a civil fraud suit and a defamation case.

Money Matters Because It Fuels Get Out The Vote Operations

In 2020, the Trump campaign out of money after raising more than a billion dollars. Trump’s fundraising is even weaker in 2024. Biden is going to have a massive money advantage over Trump and that advantage will show up in some important ways.

Democrats will be able to reach and appeal to undecided voters. through advertising, grass roots outreach, and direct voter contact. Democrats will also be able to afford bigger and better staffed get out the vote operations in swing states where a few thousand voters could be the difference between winning and losing.

It is an ominous sign for Republicans that Biden has a ton of cash as their nominee is bleeding cash while trying to avoid a felony conviction.

Poor fundraising has consequences, and those consequences show up on election day.

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