Joe Biden used to be opposed to super PACs.
Of course, that was before he needed one. His campaign is dangerously low on funds, so he has conveniently changed his position.
Biden throws his campaign a lifeline
By reversing course and dropping his opposition to super PACs, Joe Biden has all but admitted he’s getting swamped in fundraising.
But it was a strategic retreat that could end up paying big dividends for his cash-starved campaign.
Calls to a half-dozen maxed-out Biden donors Friday revealed that they would gladly dig deeper for the former vice president and contribute to a super PAC that enables them — and corporations — to give and spend unlimited amounts of money.
“Joe Biden has not raised as much money as the others through his own campaign efforts. But you have to understand, that’s basically how it works. Bernie Sanders had, what, 20,000 people at an event in New York? Suppose each one of those people gave $100,” said Joe Cotchett, a major Bay Area bundler for Biden. “Does Joe have the ability to have 20,000 people at a rally right now? The answer is no. But hopefully for Joe, it will come.”
It gets worse. The people Biden is now cozying up to are corporate interests. That should go over very well with his party’s far left base.
The Intercept reports:
JOE BIDEN’S SUPER PAC IS BEING ORGANIZED BY CORPORATE LOBBYISTS FOR HEALTH CARE INDUSTRY, WEAPONS MAKERS, FINANCE
JOE BIDEN BEGAN the presidential campaign with a commanding lead in the polls, but questions surrounding his ability to power through the primary, along with relatively weak fundraising, has cast new doubt about his campaign.
In an effort to revive Biden’s prospects, prominent supporters of the former vice president are mobilizing to establish a Super PAC, a bid that the Biden campaign appeared to endorse on Thursday, according to a report in Bloomberg. The move represents a reversal from earlier this year, when Biden rejected support from Super PACs, which can receive unlimited donations from corporations or individuals.
Though Biden has pledged not to take contributions from registered lobbyists, the prohibition appears not to apply to big-dollar organizers of his Super PAC. Among the individuals involved with the effort are several lobbyists for leading corporations and foreign governments.
Biden really has no choice here if he wants to be competitive, but this is going to hurt him.
Especially with the voters he needs to win.
It’s a lose-lose situation.