Biden campaign starts 2020 with less cash on hand than top rivals

August 25, 2020 0 By HearthstoneYarns

Former Vice President Joe BidenJoe BidenHillicon Valley: Biden calls on Facebook to change political speech rules | Dems demand hearings after Georgia election chaos | Microsoft stops selling facial recognition tech to police Trump finalizing executive order calling on police to use ‘force with compassion’ The Hill’s Campaign Report: Biden campaign goes on offensive against Facebook MORE began 2020 with less cash on hand than his fellow top-tier Democratic presidential contenders, according to Federal Election Commission (FEC) filings for the fourth quarter. 

Biden ended the fourth quarter with $8.9 million cash on hand, the same amount he rounded out the third quarter with. 

The amount is considerably less than the cash on hand of the three other top-polling candidates.

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Sen. Bernie SandersBernie SandersThe Hill’s 12:30 Report: Milley apologizes for church photo-op Harris grapples with defund the police movement amid veep talk Biden courts younger voters — who have been a weakness MORE (I-Vt.) rounded out the fourth quarter with $18.2 million cash on hand, while Sen. Elizabeth WarrenElizabeth WarrenWarren, Democrats urge Trump to back down from veto threat over changing Confederate-named bases OVERNIGHT DEFENSE: Joint Chiefs chairman says he regrets participating in Trump photo-op | GOP senators back Joint Chiefs chairman who voiced regret over Trump photo-op | Senate panel approves 0B defense policy bill Trump on collision course with Congress over bases with Confederate names MORE (D-Mass.) ended the same period with around $13.7 million cash on hand. Former South Bend, Ind., Mayor Pete ButtigiegPete ButtigiegScaled-back Pride Month poses challenges for fundraising, outreach Biden hopes to pick VP by Aug. 1 It’s as if a Trump operative infiltrated the Democratic primary process MORE’s campaign had $14.5 million cash on hand at the end of 2019. 

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The latest FEC data comes just days before Monday’s Iowa caucuses, where a number of polls show Biden and Sanders neck and neck. 

A Monmouth University poll released Wednesday showed 23 percent of likely caucusgoers saying Biden is their first choice, while 21 percent said Sanders was their top pick. 

Sanders’s high spending numbers combined with his strong, four-year-old organization on the ground in Iowa could be cause for concern for the Biden campaign. 

However, Greg Schultz, Biden’s campaign manager, assured supporters in a memo on Saturday that the campaign had the resources to successfully compete in the contests. 

“The month of January will be the campaign’s strongest month of fundraising since launch, with the vast majority of our growth coming through digital grassroots donations,” Schultz wrote. “Elections ultimately are not about money, they’re about having the right message and vision for the country. But you have to have the resources to compete, which we unequivocally do.”