Depression and disappointment: Biden's biggest donors get hurt

By 
 June 25, 2024

President Joe Biden's plan to win by burying the other campaign in a mountain of high-dollar campaign strategies could have hit a bump in the road.

According to a recent report by Politico, the Biden campaign allies seem to have been detoured recently, which could be a net positive for former President (and Biden opponent) Donald Trump.

The report indicated that Biden's allies are preparing themselves for the end of the campaign season with Trump outraising Biden.

Data from recent campaign finance disclosures indicate that Trump is outraising the current president month over month and hauling in the big bucks.

This is despite Trump's 34 felony convictions and Biden's longstanding financial edge on the campaign trail.

Democrats Response

In recent days, Democrats have, for the most part, downplayed Trump's new financial lead in the same manner that Trump's backers had done when Biden was surging ahead in the money battle.

They said that the president would have sufficient funds to fight with Biden.But behind closed doors, a number of Democratic strategists and fundraisers were in a state of shock.

“There was the strategy of raising all this money on the front end so we could have this huge edge,” said one Biden bundler, granted anonymity to speak candidly.

“The whole point of it was to come out with a sizable cash advantage and, you know, we’re now even and it’s June. … I have no other word for it other than ‘depression’ among Biden supporters.”

'Disappointing but not Surprising'

The development was seen as "disappointing, but not surprising" by a different major Biden bundler, who was also granted anonymity.

Not only did Trump have more cash on hand than Biden did in the 2024 money battle, but he also had a higher total amount of money raised.

In addition, Republican megadonors have been handing out big checks to Trump in recent days. Headlines were flying in disbelief among liberal media sources who found it inconceivable that despite the efforts to discredit the former president, the felony convictions only rallied his supporters further behind him.

One of these checks was to a pro-Trump super PAC, which received fifty million dollars from Timothy Mellon, a longtime donor to the Republican Party.

When compared to the time when Mitt Romney caught up to then-President Barack Obama in fundraising during the summer of 2012, it appears that several donors to Biden stated that they not only anticipated but also planned for Trump to close the gap after he secured the Republican nomination.

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