September 9, 2020
Just like the nation and the electorate he serves, President Donald Trump is experiencing a cash crunch that can be traced to the Oval Office.
On Twitter on September 7, the president defended his campaign’s financial decision-making, after a report that surfaced in The New York Times provoked new scrutiny of his reelection team’s spending habits. Reportedly, Trump has squandered his cash advantage over Democratic presidential nominee Joe Biden.
“My Campaign spent a lot of money up front in order to compensate for the false reporting and Fake News concerning our handling of the China Virus,” Trump tweeted on September 8. “Now they see the GREAT job we have done, and we have 3 times more than we had 4 years ago – & are up in polls. Lots of $’s & ENERGY!”
According to Politico, the president’s social media post came after the Times published a story detailing how the Trump campaign has already spent more than $800 million of the $1.1 billion it raised in coordination with the Republican National Committee from the beginning of 2019 through July.
The Times report raised questions about former campaign manager Brad Parscale’s financial stewardship of Trump’s war chest, which was once viewed as an historic asset ahead of the fall’s general election campaign. Among the campaign’s expenses were a car and driver for Parscale, who was replaced atop the campaign in July by Bill Stepien.
Biden, meanwhile, has seen his fundraising soar in the final weeks of the campaign. Last month, the former vice president and the Democratic National Committee raked in a record $365 million in contributions — doubling Trump’s $165 million record haul from July and also surpassing the $193 million raised by Barack Obama in September 2008, Politco notes.
Trump has yet to report his August fundraising numbers, and White House Chief of Staff Mark Meadows told reporters on Tuesday that he did not know when that campaign announcement would come. “I don’t know. I have zero visibility into that decision,” he said.
Research contact: @politico