The Biden campaign raised significantly less in quarter four of 2023 than the Trump camp did at the same point in the lead-up to the 2020 election.
Biden and his allies are touting that the president’s campaign raised $97 million in the last three months of 2023 ,and that it had $117 million on hand at the end of that period. The Trump campaign, meanwhile, raised $154 million and had $195 million in the bank at the same point in the 2020 election cycle, The New York Times reported.
The disparity between Trump’s and Biden’s campaigns is heightened when considering inflation. A dollar is worth 20% less now than it was in January 2020, according to the Bureau of Labor Statistics’ Consumer Price Index calculator. (RELATED: Trump Campaign Taps Small-Dollar Donors To Outraise Biden In Blue-Leaning State)
Polling has suggested that Americans are not satisfied with the president’s handling of inflation.
A December 2023 Monmouth University poll found that only 28% of Americans approved of Biden’s handling of inflation, and just 34% of those surveyed approved of the president’s overall job performance, an all-time low.
Despite Biden’s low approval rating, his campaign says it received donations from 520,000 unique donors.
While Biden remains historically unpopular, wealthy Americans have been bankrolling his campaign.
The Biden campaign said it raised over $15 million during one weekend of fundraisers in wealthy neighborhoods of Los Angeles targeting high-dollar donors and Hollywood elites, Deadline reported. Biden’s reelection effort has received an outsized amount of support from the wealthiest zip codes in the country.
The Trump campaign has not released its quarter four donation numbers yet but must do so later this week.
While Biden has raised considerable cash, Republicans have spent a large sum on their ongoing presidential primary. Republicans spent more than $100 million on ads in Iowa alone, according to NBC News.
The Trump and Biden campaigns did not immediately respond to the Daily Caller News Foundation’s request for comment.
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