The presidential election is approaching and could be decided by whether Biden has money while Trump is bankrupt.
What is the difference between the Biden and Trump campaigns?
The difference between the Biden and Trump campaigns is fundraising. Biden’s campaign can raise and accumulate money while Trump is struggling.
Bloomberg reported:
According to a political strategist familiar with national fundraising, Biden’s allied groups have already pledged to spend more than $700 million to help him beat Donald Trump in the 2024 election. That’s on top of the $130 million they his campaign said it would have it available in early February.
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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. Fundraising by the Republican National Committee also lags behind its Democratic counterpart.
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On top of that, Trump’s personal finances could come under strain after the court ordered him to pay a total of $540 million in damages in both a civil fraud lawsuit and a defamation lawsuit.
Money matters because it fuels voting operations
In 2020, Trump’s campaign ran out of money after raising more than a billion dollars. Trump’s fundraising will be even weaker in 2024. Biden will have a huge economic advantage over Trump, and that advantage will manifest itself in some important ways.
Democrats will be able to reach and appeal to undecided voters. through advertising, grassroots awareness and direct contact with voters. Democrats will also be able to afford larger, better-staffed voting operations in swing states where a few thousand voters could mean the difference between winning and losing.
It’s an ominous sign for Republicans that Biden has a lot of cash as their candidate is bleeding money while trying to avoid a felony conviction.
Poor fundraising has consequences, and those consequences show up on Election Day.
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Jason is the managing editor. He is also a member of the White House press pool and a congressional correspondent for PoliticusUSA. Jason has a bachelor’s degree in political science. His graduate work focused on public policy, with a specialization in social reform movements.
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