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Biden Begins Scaling Up, While Establishing a Financial Edge Over Trump

Biden Begins Scaling Up, While Establishing a Financial Edge Over Trump
Credits: CNN

President Joe Biden’s reelection campaign experienced a significant expansion in the latter part of last year, signaling a shift in strategy and increased operational activity after a period of relative calm.

The campaign’s financial reports, filed late Wednesday night, revealed that expenditures in the final quarter of 2023 exceeded the cumulative spending of the preceding nine months.

A notable surge was observed in the payroll, more than doubling from the third quarter, indicative of a growing workforce. Expenditures related to media production and airtime buys also witnessed a substantial increase, totaling nearly $12.2 million, marking a growth of over $3 million.

Biden Begins Scaling Up, While Establishing a Financial Edge Over Trump

Biden Begins Scaling Up (Credits: The Australian)

In total, the campaign spent $19.3 million in the last quarter of 2023, compared to approximately $14 million in the preceding nine months.

The substantial growth in payroll and cash balance reflects the campaign’s adjustment to what is anticipated to be an exceptionally lengthy general election season.

This shift follows a gradual buildup in staffing over several months, with the momentum continuing. President Biden actively engaged in campaign activities during the last month, participating in speeches and rallies across Pennsylvania, Virginia, and South Carolina.

The campaign also announced recent hires and deployed two key White House aides—Jen O’Malley Dillon and Mike Donilon—to headquarters in Wilmington, actions not yet reflected in the recently filed financial reports.

In total, President Biden, the Democratic National Committee (DNC), and their joint fundraising committees disclosed raising over $97 million in the final quarter of 2023, a figure previously announced earlier in the month.

This represented a substantial improvement of approximately $26 million compared to the previous quarter. The collective cash on hand for Biden’s political apparatus, including the campaign, DNC, and affiliated joint fundraising committees, exceeded $117 million.

This robust fundraising is poised to provide President Biden with a significant financial advantage over his potential general election opponent, former President Donald Trump.

While not an exact comparison due to the Republican National Committee’s neutrality in the GOP primary, Trump’s campaign and associated fundraising entities reported around $42 million in cash reserves.

President Biden’s end-of-year fundraising surpasses that of former President Barack Obama and the DNC during the same period in 2011 but falls behind then-President Trump and the Republican National Committee, which raised $154 million in the fourth quarter of 2019.

Concerns have been raised among Democrats in battleground states regarding the late buildup of infrastructure, emphasizing the importance of on-the-ground presence for Biden’s coalition-building efforts in preparation for the 2024 election.

Despite these concerns, President Biden’s substantial fundraising and organizational efforts position him as a formidable candidate for the upcoming election.

Additionally, Future Forward, the leading outside group supporting President Biden’s reelection, reported a staggering fundraising success, raising over $200 million in 2023, further bolstering his financial strength.

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