NYT: Trump Has Wasted Nearly A Billion Dollars In Campaign Money
According to The New York Times, the Trump campaign has blown through a massive chunk of the money it raised this year together with the Republican National Committee, having spent more than $800 million.
The Times reports,
Money was supposed to have been one of the great advantages of incumbency for President Trump, much as it was for President Barack Obama in 2012 and George W. Bush in 2004. After getting outspent in 2016, Mr. Trump filed for re-election on the day of his inauguration — earlier than any other modern president — betting that the head start would deliver him a decisive financial advantage this year.
It seemed to have worked. His rival, Joseph R. Biden Jr., was relatively broke when he emerged as the presumptive Democratic nominee this spring, and Mr. Trump and the Republican National Committee had a nearly $200 million cash advantage.
Five months later, Mr. Trump’s financial supremacy has evaporated. Of the $1.1 billon his campaign and the party raised from the beginning of 2019 through July, more than $800 million has already been spent. Now some people inside the campaign are forecasting what was once unthinkable: a cash crunch with less than 60 days until the election, according to Republican officials briefed on the matter.
The Times noted that after “Bill Stepien replaced [former Trump campaign manager Brad] Parscale in July, the campaign has imposed a series of belt-tightening measures that have reshaped initiatives, including hiring practices, travel and the advertising budget.”