With the presidential election just a few weeks away, President Donald Trump is inching closer to catching Joe Biden in national polls.
That’s good news for Trump’s re-election hopes, right?
Well, not so fast!
You see, while Biden’s lead in the polls may be dwindling… his campaign’s cash is TROUNCING the Trump campaign.
According to a report from Newsmax, Biden started September with $466 MILLION cash to take on Trump… completely reversing the GOP’s financial advantage in just four short months.
In April, Biden had about $98 million in the bank compared to $255 million for Trump.
Trump’s re-election effort had $325 million at the end of August, according to spokesman Tim Murtaugh, or $141 million less than Biden.
So how has Biden been able to raise so much cash, so quickly?
According to the report, it boils down to Democrat donor enthusiasm, driven by opposition to Trump and further energized by the selection of Sen. Kamala Harris as Biden’s running mate, has given the former vice president an unprecedented financial edge for a challenger.
The money is held by the Biden campaign, the Democratic National Committee, and two joint fundraising committees that raise funds for both entities, according to a campaign official, who asked not to be named because he doesn’t speak for the campaign.
It should be noted that the Trump campaign cut advertising spending in August and has gone completely dark in key states in September. Biden is widely outspending Trump on media, booking $125.1 million on television, radio and digital ads in September compared to $65.1 million for Trump… this according to data from Advertising Analytics.
And the cash keeps rolling in for Democrats. Since the death of Supreme Court Justice Ruth Bader Ginsburg Friday, Democrats have seen a record-setting deluge of donations through ActBlue, the party’s online platform for donating to candidates and causes. Between the announcement of her death on Friday night and 10 p.m. Sunday, grassroots donors gave more than $126 million. That outpouring comes after Biden raised a record $364.5 million in August, including $48 million in the two days after he selected Harris.
That month, Trump and the Republican National Committee raised $210 million.
Will Trump be able to overcome this surge of cash from the Biden campaign? We’ll find out in a few weeks!