Trump and his campaign are facing new issues with Election Day fast approaching. His campaign has been facing financial problems for the past few months, and they are only getting worse at it. Democratic presidential nominee Joe Biden has outraised Trump’s campaign by a whopping $200 million in September. He also had a great start in October, with $177 million in the bank. Presently, Biden has a 3 to 1 edge over Trump’s meager $63 million funds. Trump’s total is the lowest amount for any incumbent president who is fighting for his reelection. Barack Obama was left nearly with $100 million to spend at the same point in 2012, and his opponent, Mitt Romney, has the same amount as that of Trump.
Combining the funds from all the campaigns, affiliated fundraising committees, and national parties, Joe Biden has a cash edge of $432 million compared to Trump’s $251 million at the start of this month. Biden has raised more money in more straightforward terms and has the flexibility to spend it as per the campaign needs with fewer restrictions. The wide gap between the funds of both the candidates translates into a significant spending gap by Biden. Due to the shortage of funds, the Trump team has to stop his TV ads in key states, and instead, they are spending that money in other battleground states. At the start of the 2020 election campaign, almost every political analyst predicted such a scenario for the former vice president. But the tables turned entirely for Biden and Trump towards the end of the campaign. From trailing by a nine-digit cash figure in March 2019, Biden has made his way to the top beating President Trump’s cash haul as well.
Although Trump pulled a victory in 2016 against Hillary Clinton despite trailing her in cash advantage, it is fair to consider that Trump wasn’t an incumbent president at that time. In his campaign, the present financial situation is worrying most of the Republican strategists, who claim that a sitting president should always be in a better position than the competitor. “The obstacles to his victory are mounting, and the clock is ticking. It will likely take a political earthquake to change the trajectory of this race,” said Ken Spain, a Republican consultant.
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