No, not on stage in Westerville, Ohio. Back in Washington, DC, where reports of how much each of the candidates was collected, spent, and, most importantly, left were taken to the Federal Election Commission.
Then consider the following: Biden's total cash balance is lower than all of his main competitors for the Democratic nomination, including California Senator Kamala Harris ($ 10.5 million), which has dropped sharply in recent surveys , Vermont's Senator Bernie Sanders ($ 33.7 million) has to spend more than three times more than Biden, while Massachusetts Senator Elizabeth Warren ($ 25.7 million) and South Bend Mayor Pete Buttigieg (23 $ 4 million) more than double from Biden. 1
Why should these numbers panic – or at least seriously alarm Biden? After all, money is not everything in politics! Donald Trump won the Republican primary in 2016 and made a small point of what people like Jeb Bush and even Ted Cruz were doing.
Right! Money is not always determinative. But what signals fundraising – especially in a crowded and uncertain environment where only a few months remain before someone actually votes – is momentum and organic energy. Think about passing on some of your hard-earned money to a candidate is one of the strongest signs of support you could possibly offer. They essentially say: I believe in this person so much that I am ready to invest in them. That's a big deal!
Biden's total money transfer – $ 15.7 million – is not great. (He was challenged by Sanders, Warren, and Buttigieg.) But his burn rate – the amount he has spent – is even more worrying. Biden spent more than $ 17.6 million, which means $ 2 million more was spent than received. Which is bad! Could be somewhat mitigated if Biden had previously stored a Scrooge McDuck-like set of gold coins (or just dollar bills) from which to fund his efforts in the third fundraising quarter.
Unfortunately, for Biden, however, there is no gold-doubloon stock. He spent more than he spent and he has half (or less) of the money at his disposal as his main contenders for the nomination. This is poorly stacked in bad, with bad slathering at the top.
In effect, Biden's money was poor Status will make his efforts more difficult (a) To establish and maintain high-level organizations, not only in the federal state with the four primary elections, but also in the number of states that are due to vote in March and c) raise more money to finance all these efforts because the money is driven by the momentum.
Yes, Biden remains the best-known candidate in the field. And yes, because of this status, he has less to imagine (or reintroduce) voters. So his money situation is not a fatal blow, as some of his rivals might be.
But do not make a mistake: Biden's fundraising situation is bad. And there are only a few signs that things are getting better.