Joe Biden is spending like there’s no tomorrow.
Compared to other Democrats running in 2020, he has the least amount of campaign cash on hand.
It’s just one more thing to accentuate his fall from front-runner.
The Washington Examiner reports:
Biden campaign burning through funds at rate tough to sustain
Joe Biden’s campaign burn rate is one of the highest of any top-tier presidential primary candidate since 2008, in July through September spending 12.1% more than it took in and more than 30% higher than his chief rivals, such as Elizabeth Warren and Bernie Sanders, according to data analyzed by the Washington Examiner.
In the third quarter of 2019, covering July through September, Biden’s campaign raised $15.7 million and spent $17.6 million. The only candidate with a higher spending deficit was California Sen. Kamala Harris, who raised $11.8 million and spent $14.5 million, a 122.9% burn rate.
Among Biden’s most costly expenditures, aside from staffing, was the use of private jets, which ran him $924,000. Biden also spent over $230,000 on “fundraising consultants” and tens of thousands of dollars on ritzy hotels such as the Carlyle Hotel in New York City.
At the end of September, Biden’s campaign had $8.98 million cash on hand, compared to Sanders, the Vermont senator who sits on $33.7 million, Massachusetts Sen. Warren at $25.7 million, South Bend, Indiana, Mayor Pete Buttigieg at $23.4 million, and Harris at $10.5 million.
Just looking at the numbers should make Biden supporters nervous:
NEWS: Joe Biden has $8.98 million cash on hand
Sanders: $33.7 million
Warren: $25.7 million
Buttigieg: $23.4 million
Harris: $10.5 million
— Shane Goldmacher (@ShaneGoldmacher) October 16, 2019
Breitbart has more on this:
At a burn rate like Biden’s running, with not much gas in the tank, the former Vice President could be in some serious trouble in attempting to remain near the front of the pack. He’s already lost his frontrunner status, as Warren has pulled ahead of him in most national polling and in almost every early and battleground state except in the South. CNN’s Chris Cillizza called Biden’s funding lapses a “bombshell” revelation multiple times in a post about the matter, writing that it represents a “SIREN” for Biden’s campaign.
Factor that together with burgeoning attacks on his son Hunter Biden’s business dealings from the White House and President Donald Trump, as well as a media beginning to be receptive to the criticisms, and Joe Biden has a tougher-than-ever road ahead. Hunter Biden’s interview earlier on Tuesday on ABC did his father no favors by most accounts, and even CNN and JournoList founder Ezra Klein of Vox are now saying there is something to all the questions swirling around him and that Democrats need to be prepared to deal with this.
At this rate, you have to wonder how much longer Biden’s campaign is going to hang on.
Will he even make it to Iowa?