Trump Said He’d Loan His Campaign $100M. Instead, He’s Loaned It A Total Of $8k.
President Donald Trump said last month that he would supply his reelection campaign with as much as $100 million of his own money if push came to shove, but so far he has only coughed up $8,000, Politico reports.
Trump has contributed just over $8,000 to his campaign this election cycle, according to FEC data. It’s a huge difference from 2016, when Trump contributed $66 million of his own money to his first presidential bid.
For comparison, rapper Kanye West loaned his quixotic campaign $3 million in September and contributed an additional $2.1 million this month, according to the latest FEC filings. West, who tweeted he’d be joining the presidential race in July, has now floated his campaign close to $12 million since he’s launched his bid and is qualified to be on the ballot in a dozen states as a third-party candidate.
The president’s lack of follow-through certainly is not because his campaign is flush with cash, the outlet noted.
Former Vice President Joe Biden’s campaign “outraised Trump’s by an eye-catching $200 million in September and started October with $177 million in the bank,” according to the report.
That's a nearly 3-to-1 edge over Trump’s $63 million, putting Trump at a deficit without parallel in the modern era of campaign financing, especially for a sitting president. The last incumbent to face reelection, Barack Obama, had nearly $100 million left to spend at this point in 2012, while his challenger, Mitt Romney, had almost exactly the amount Trump has left this year.
The dire financial picture is worrying many Republican strategists, who argue a sitting incumbent should be better positioned and that the lack of money compounds the president’s polling deficit and his struggles with the coronavirus pandemic.