"Donors don't like to waste their money on losers."
According to the Washington Times, the Trump campaign raked in $46 million last quarter and has over $100 million in the bank. In comparison, Biden has $9M in the bank ...
California billionaire Tom Steyer spent $47 million in 84 days on presidential bid
California billionaire Tom Steyer spent $47 million during the first three months of his presidential bid — a jaw-dropping sum that places him on track to join the biggest self-funding political candidates in American history.
So far, Steyer has remained mired in the low single digits in the polls in his campaign for the Democratic presidential nomination. The candidate who has topped most of these polls, former Vice President Joe Biden, finds himself in a precarious financial position — he spent more money than he raised in recent months, and has significantly less in the bank than his top rivals, according to campaign finance disclosure forms released late Tuesday.
Darry Sragow, a veteran Democratic consultant, said Biden is better known than his Democratic rivals because of his nearly half-century in office, so he may not need as much money as other candidates. However, the campaign finance numbers — Biden raised $15.7 million and spent $17.7 million in the third quarter of 2019, leaving him with $9 million in the bank — could send a negative signal to donors, Sragow said.
“Insiders and donors look at how much he has not raised and how much he does not have on hand, and that’s discouraging to them,” Sragow said. “Donors don’t like to waste their money on losers.”
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