The size of the field of candidates running in 2020 has made fundraising very competitive. One thing that isn’t helping many of the candidates is how fast they are spending.
They’re spending money faster than they can raise it.
It’s a metaphor for liberal fiscal policy.
FOX News reports:
‘Burn’ out? These 2020 Dems are spending $$ faster than they can raise it
The presidential candidates are off to the races, speaking to voters, visiting small towns — and burning through cash reserves faster than donors are giving.
In the last fundraising quarter, nearly half of the Democratic presidential candidates spent more than they raised in donations. Campaigns with high “burn rates,” as the deficits are known, usually need to make a big splash during debates or on the campaign trail to attract new donors and maintain a viable financial picture.
Among those with the highest burn rates, according to Federal Election Commission records, are New York Sen. Kirsten Gillibrand, former Texas Rep. Beto O’Rourke, New Jersey Sen. Cory Booker and Hawaii Rep. Tulsi Gabbard. Former Maryland Rep. John Delaney was also listed as having spent several million more than he raised, but the candidate has since said the numbers were misreported.
While all the candidates still maintain substantial amounts of cash on hand, running a deficit this early into their campaigns is not usually a harbinger of a successful race, observers say.
The candidate who seems to be struggling to raise money the most is Beto O’Rourke.
Beto O’Rourke’s presidential campaign raised only $3.6 million in the second quarter
Former Texas Rep. Beto O’Rourke’s presidential campaign announced that it raised $3.6 million in the second quarter of 2019.
The haul puts O’Rourke in the lower tier of 2020 contenders who have struggled to raise campaign cash to keep pace with the primary leaders, including former Vice President Joe Biden, Sen. Bernie Sanders, Sen. Kamala Harris and Mayor Pete Buttigieg.
In an email to supporters, O’Rourke’s campaign manager, Jen O’Malley Dillon, called for calm but noted they’re still building their campaign.
“We’re building our team in El Paso slowly but surely. Our National Finance Director started this week. Our Digital Director started a month ago. We’re going to grow, and our ability to fundraise is going to grow with it,” she said.
How far Beto has fallen.
He was a rock star six months ago and now he’s yesterday’s news.