The Wall Street Journal reported Tuesday that several Democrat candidates have spent money faster than they can raise it in the past three months.
“How quickly the 24 Democratic contenders are burning through cash seven months ahead of the first primary caucuses and elections is as important as how much they are bringing in,” wrote Julie Bykowicz at the Wall Street Journal. “Former Vice President Joe Biden spent more than almost anyone else in the race, despite entering almost a full month into the fundraising period. He burned through more than $11 million as he raised about $22 million, the newly filed reports show.”
After listing the many Democrat candidates who have overspent, Bykowicz reported that President Trump, on the other hand, is “well-funded.” He and the RNC raised $108 million in the second quarter, and was able to stock away $100 million in available cash.
“Whoever prevails in the 2020 Democratic primary will face a well-funded incumbent in Mr. Trump,” Bykowicz wrote. “With the Republican National Committee unified behind Mr. Trump, the president and party can ask for individual donations topping $350,000 or even more. Democratic challengers are limited to $2,800 per donor for the primary race; the eventual nominee will be able to accept larger checks with the Democratic National Committee.”
H/T: Wall St Journal