President Trump’s campaign has burned through over $1 billion. The money was stolen by his former campaign manager, consultants and wasted on nonsense from the beginning. Former VP Biden has almost three times more cash on hand and can easily raise another $100+ million in the final two weeks of the campaign.
With less than 14 days before Election Day and after 40 million Americans have already voted, former vice president Joe Biden has both a double-digit lead in the national polling and almost three times as much cash as the Trump campaign has on hand sitting in the bank. Biden also can raise much more cash by text, email, radio, and TV if he needs it. If that wasn’t enough of an edge, Biden also has the best two fundraisers in politics in the world on call, President and Mrs. Obama.
According to a Politico report, Joe Biden has $177 million in cash on hand. President Donald Trump has just $63 million and either is unwilling to put up the $50 million he said he could and would put in - if needed. However, as the President’s finances become clearer, he is $900 million, not $400 million in debt personally and through his businesses. He’s also looking at being charged with state and federal tax, wire, bank, campaign finance fraud, money laundering within weeks of losing his re-election bid.
Trump subdued talks GOP campaign finance
In 2012, Romney had a slew of potential state and federal felonies hanging over his head like the sword of Damocles in a losing effort for the Republican candidate, as does Trump. By comparison, at this point in his 2012 re-election race then-President, Barack Obama had $100 million in cash, and Romney had “almost precisely the amount Trump has left this year. This means that Biden is in a much stronger financial position than Trump is. When it comes to a presidential election, the ability to raise money and spend it smartly can be one of the most powerful indicators you will win, and your opponent will lose.
The situation for Republican House and Senate candidates is even direr. Democrat candidates for both chambers of Congress have been outraising their Republican opponents by 100%, 200%, even 500%. As a result, they threaten to take as many as ten net seats away from Republican incumbents and or temporary incumbents placed in their seats by Republican governors.
While Trump claimed to be worth $10 billion and promised to self-fund his run for president, he first ran four years ago. If needed, he would pay up to $50 million to help his campaign if it were running short; he is now being exposed to the fraud. The President is broke; he’s taken money from foreign accounts tied to China, he’s starting to put the few properties he owns up on the market for sale and is begging big Republican donors who are recognizing Trump and the GOP may be on the verge of suffering a landslide loss that will rival Walter Mondale’s 1984 to President Reagan.
The President’s storming out of the 60 Minutes Interview yesterday won’t help. His lack of preparation and prospect of a tough NBC’ debate monitor Kristen Welker isn’t likely to help his cause.
Then there’s the video footage from just six weeks ago in which President Trump can be seen bragging that he has “double, maybe even triple” the cash on hand than he did four years ago, “but if we needed any more, I’d put it up personally.”
Bottom line: Donald J. Trump hasn’t lent his campaign money, nor has he given his campaign any money this year – except for a mere $8,000. A staggeringly small sum, one some might say reflects what he thinks his chances of re-election actually are.
Donald Trump Jr. and Eric Trump have repeatedly claimed that their father has lost a fortune in his businesses. Those losses have no doubt been compounded by the President’s divisive behavior that has all but destroyed his brand and the coronavirus pandemic that has clobbered his country club dwindling occupancy rates and nonexistent revenues. The truth is, if Trump loses his re-election effort, he will likely be indicted for crimes he committed before and while being president by the State of New York.
Trump Campaign BROKE In Final Stretch