2020 Democrats struggle to raise money faster than they spend it
Election 2020,Campaign Finance,Elections
Sen. Bernard Sanders, Sen. Kamala D. Harris and South Bend Mayor Pete Buttigieg raised campaign cash much faster than they spent it this year, according to federal reports filed Monday, demonstrating that their operations can go the distance in a presidential race.
Mr. Buttigieg, who has surged in the polls and scored an impressive $7 million in contributions, collected the cash 10 times faster than his campaign spent it. The Indiana mayor still had $6 million in the bank as he started the second quarter.
“That is a remarkably low burn rate and indicative of how we are running a 21st century campaign doing more with less,” tweeted Buttigieg campaign spokeswoman Lis Smith.
None of the top-performing Democrats raised as much money as President Trump’s $30 million haul in the first quarter. But they showed they have the potential to hang in against the Trump campaign, which was pulling in $4 for every $1 it spent.
As soon as the reports were filed with the Federal Elections Commission, Ms. Harris seized on Mr. Trump’s fund-raising prowess to prod supporters to chip in for her campaign.
“We’re in for an uphill fight. The Trump campaign is going to raise — and spend — whatever it takes to hold on to the White House. We have to show we won’t be outmatched,” she said in an email to supporters.
She raked in cash nearly three times as fast as her campaign spent it.
After collecting $12 million in contributions, the Harris campaign reported spending $4.2 million on operating expenses. With extra cash transferred from her Senate campaign committee, Ms. Harris ended the quarter with $8.9 million in the bank.
Mr. Sanders was even closer to Mr. Trump. He raised money nearly four times fast than his campaign was spending it. He collected $18 million and ended the quarter with a more than $15.6 million war chest.
