WASHINGTON: President Donald Trump will embark on a heavier fundraising schedule in coming weeks as his re-election campaign faces a possible cash crunch that has forced it to pull back television advertising in some crucial states. Trump’s campaign started the year with more than 10 times as much money as Democratic rival Joe Biden. But to the alarm of some Republican donors, the former vice president closed the gap as Democratic donors consolidated behind him and the Trump campaign burned through its cash more quickly.
Biden, who leads Trump in most national and battleground state polling ahead of the November 3 election, had about $99 million in the bank to Trump’s $121 million by the end of July, according to disclosures by each side’s campaign. Including money raised by the candidates’ national parties, Biden outraised Trump nearly $365 million to $210 million in August.
“I am flabbergasted that the money lead we had in February has completely evaporated’’, said Dan Eberhart, a Republican fundraiser and executive in the oil and gas industry who cut a $100,000 cheque to the Trump Victory Fund in June.
Trump this week said his campaign had to spend millions on advertisements earlier this year to fight the impression that he mishandled the coronavirus pandemic, which has killed more than 191,000 Americans and devastated the US economy.
A couple of donors questioned whether the campaign’s purchase of a multi-million dollar ad during the Super Bowl in February so far ahead of the election, as well as ads in the heavily Democratic Washington, DC market in June, were more about Trump’s vanity than strategy.
Eberhart said some of the campaign’s recent actions, including buying ads in few-day increments as opposed to weekly and going dark in some states for a stretch, suggested the campaign now faces a cash pinch.
Bill Stepien, who became Trump’s campaign manager in July, told reporters this week that the campaign was “very comfortable and confident in how we’re spending and where we’re spending.” — Reuters
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