Trump Raises $210 Million In August, Trailing Biden By $155 Million Amid Cash Crunch

Topline

Amid reports that it’s pulling back spending, the Trump campaign announced that it raised $210 million with the RNC in August, significantly trailing former Vice President Joe Biden’s record-breaking $364.5 million haul during the same period.

Key Facts

Crucial Quote

“Thanks to early investments in field, digital and data, we have built the most sophisticated ground game in history,” RNC Chair Ronna McDaniel said in a statement. “Democrats simply cannot compete with our grassroots army of two million volunteers, and the millions of door knocks and phone calls we make each week will prove to be a critical advantage for President Trump and Republicans come Election Day.”

Chief Critic

The Biden campaign noted that the Trump team dropped their fundraising numbers shortly after audio surfaced revealing Trump acknowledged that the virus was “deadly stuff” in February and admitted to “playing it down” in March. “Trump is trying to distract that he purposefully misled Americans on Covid risks by announcing they raised $150M Less that Biden/Harris,” tweeted Biden campaign senior advisor Greg Schultz.

Big Number

$3.7 billion. That’s the price tag of the 2020 election so far, according to FEC data compiled by Forbes. Much of the figure comes from a collective $1.4 billion spent by billionaires Tom Steyer and Mike Bloomberg in their unsuccessful primary campaigns. It’s already far greater than the $2.21 billion price tag of the entire 2016 presidential election, with two months still to go before November.

What To Watch For

Bloomberg reported that Trump is considering loaning his campaign as much as $100 million, though his latest financial filings suggest he only has between $50 million and $150 million in cash to spare. He also pledged to spend $100 million on his 2016 campaign, but only ended up loaning himself half of that.