US presidential election in a time of little money

US presidential election in a time of little money 4
US presidential election in a time of little money 4

The US `election economy` seems to be entering a recession in this year’s race for the White House.

President Joe Biden’s re-election campaign entered February with about $56 million in cash in the fund, while former president Donald Trump had $30.5 million.

Candidates continue to call for funding from supporters, with Mr. Biden raising an additional $15.7 million in January.

By this stage of the 2020 election season, Mr. Trump, then the US president, had raised $229 million for the campaign, while President Biden has so far only raised about $70 million.

President Joe Biden arrives at a milk tea shop in Las Vegas, Nevada on February 5.

In the 2012 election, President Barack Obama entered the primary election period with a campaign record of about 151.3 million USD and spent about 144.1 million USD.

This trend shows that US presidential candidates are receiving less donations, as donors are becoming tired, especially small donors who were once considered financial drivers for even Trump.

While money is becoming tight, both candidates leading this year’s election are having to spend a lot on issues outside the goal of mobilizing voters.

President Biden’s re-election campaign must spend money on ads to improve credibility, amid the migrant crisis at the southern border and the state of the economy, instead of content that challenges opponents

Meanwhile, Mr. Trump had to use campaign money to cover legal costs in a series of civil lawsuits and prosecutions.

For any other presidential candidate, this huge amount of money would have a significant impact if poured into television advertising.

However, the national election cycle will be a different story.

Observers believe that with current limited campaign funds, Mr. Trump and Mr. Biden will have to carefully calculate every expense and tighten their purse strings until entering the two-horse race.

Campaigns may even run out of cash to spend on promotion and operations in the second half of this year, forcing candidates to find ways to attract more support, calculating the right location and time.

`The money story will become a problem for every candidate. Each person must find their own way to overcome it,` said Byron Donalds, a Republican congressman representing the state of Florida.

US presidential election in a time of little money

Former President Donald Trump with his son Eric Trump (left) and daughter-in-law Lara Trump in Nashua, New Hampshire on January 23.

President Joe Biden and the Democratic National Committee (DNC) have tested pouring more than $20 million in advertising over the past 6 months, mainly in battleground states.

The two candidates in the next stage of the election may have to narrow the list of battleground states that need to focus resources, instead of trying to `change the color` of states that are strongholds of the opponent or attract those who are strongholds.

American voters’ fatigue about the economy and the country’s political division may be the two main reasons why this year’s election campaign cash flow has been significantly choked.

In the past few presidential elections, thanks to online donation technology platforms, many election campaigns have `turned into a storm` thanks to small and medium-sized contributions from single voters.

But fundraising activities in recent years have become more drastic and automated, causing voters to become bored with constantly receiving calls, emails or letters calling for donations and gradually becoming indifferent to information.

`There are many people in my district complaining that they receive too many emails and messages soliciting donations,` Veronica Escobar, a Democratic congressman representing Texas, revealed in July 2023.

Escobar believes that more aggressive financial campaign tactics than necessary for small voters to collect donations are counterproductive.

Meanwhile, Republican politicians say inflation is a big reason why voters donate less this election season.

Retired voters are being greatly affected by a volatile economy, as prices increase but benefits remain unchanged and they find it difficult to earn additional income.

Kenneth Pennington, co-founder of Middle Seat, a political consulting firm for the Democratic Party, has detected a trend of individual voters donating less since the 2022 midterm elections.

`Voters clearly see the prospect of a Trump – Biden rematch and they don’t seem to be very excited about this. Americans’ enthusiasm for the election has decreased,` Eric Wilson, a technical strategy consultant

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