While Vice President Joe Biden may still be the top candidate in the 2020 polls, he is sadly lagging behind when it comes to campaign money. New campaign financial records released On Tuesday, we revealed that while the 2020 candidate earned $ 15.7 million in the third quarter, Biden's campaign has only $ 8.9 million available in the fourth quarter. And as Iowa caucuses are fast approaching in February, their donors are starting to get nervous with Uncle Joe reaching the finish line.
Biden's third-quarter money falls far behind his first-rate counterparts in 2020. Senator Bernie Sanders received $ 25.3 million and has $ 33.7 million in cash, while Senator Elizabeth Warren, rival closest to Biden in the polls, has received $ 24.7 million and has $ 25.7 million in hand. Although slightly lower in the polls, Mayor Pete Buttigieg was a top fundraiser for the third quarter, with $ 19.2 million and $ 23.4 million in hand. Even Senator Kamala Harris, who received only $ 11.8 million in the quarter, outperforms Biden in cash with $ 10.5 million. (The total number of Democratic candidates is surpassed by President Donald Trump, who raised $ 85 million in the third quarter and, combined with the Republican National Committee and several pro-Trump committees, has $ 158 million in hand.) President comparatively low contribution numbers are particularly noteworthy, considering that the candidate relied on traditional fundraising methods to raise funds and donors to fuel his campaign, while Sanders and Warren campaign earners avoided rich donors in favor of Small cash donations. In fact, 64% of all contributions to Biden were large donations and only 35% gave $ 200 or less, compared to at least 53% of Warren donors who contributed $ 200 or less.
Biden's campaign is still optimistic that the total cash will be enough to take the candidate to the main test. “The fundamental question about fundraising is: Do you have what you need to do your race? And we do, "Kate Bedingfield, Biden's deputy campaign manager, said the Washington Post. But according to a CNBC report, the perspective is more divided among Biden's donors, with some still confident of Biden's abilities, while others have doubts about the candidate's chances. "He has some big money tickets coming in and I have all the confidence we can get," BLS Investments CEO Bernard Schwartz told CNBC, while another top contributor said the shrinking campaign money at hand was a "disadvantage." "for the fourth quarter. "We all thought he would be better than that," the donor told CNBC. Some Biden manufacturers have expressed concern to CNBC about where they will receive major checks for Biden in the future, now that most of their donors have already contributed the maximum donation of $ 2,800 they can give.
Biden's donor concerns after the third quarter arise when the Democratic donor class was already beginning to worry about Biden's prospects amid a scandal in Ukraine that directly involved candidate and son Hunter Biden. (Although Trump and Rudy Giuliani alleged Bidens' corruption, there is no evidence to support their conspiracy theory.) As Peter Savodnik reported to Vanity Fair in early October, the Ukraine scandal "amplified fears" among donors Democrats over Biden, with many trying to hunt for an "alternative Biden" if the former vice president's campaign finally collapses. “Who's the alternative, should Joe Biden disappear? There is a concern that if he disappears, who will be next? ”Said Savodnik Barry Porter, managing partner of the private equity store Clarity Partners. "The Ukrainian business is only accelerating this concern."
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