President Donald Trump is now reportedly facing a dire financial situation. The president mulling an idea of drawing upwards of $100 million from his own personal fortunes to win re-election.
As The Daily Wire stated:
Joe Biden is cleaning Trump’s clock in fundraising. Biden’s presidential campaign and the Democratic National Committee (DNC) announced last week that they raised $364.5 million in August, a new record. The two sides are now pretty even in cash on hand.
Bloomberg News announced, “The billionaire president has talked about the idea with multiple people, though he hasn’t yet committed to any self-funding, according to people briefed on internal deliberations.”
“Though Trump personally contributed $66 million to his 2016 campaign, it would be unprecedented for an incumbent president to put his own money toward winning a second term.”
Then CNN reported while “despite Trump and the Republican National Committee [RNC] outraising Biden and the Democratic National Committee in July — $165 million to $140 million — the Democrats ended that month with $294 million in the bank, just $6 million less than the $300 million Trump and the RNC reported having on hand.”
In addition Bloomberg told, “Trump has sought advice about whether he should self-fund as he scrutinizes heavy spending by his team earlier this year that failed to push him ahead of the former vice president in the polls. In addition, Biden’s campaign and associated Democratic entities have recently raised more than Trump and his allies.”
The New York Times also reports: “Mr. Trump’s financial supremacy has evaporated. Of the $1.1 billon his campaign and the party raised from the beginning of 2019 through July, more than $800 million has already been spent. Now some people inside the campaign are forecasting what was once unthinkable: a cash crunch with less than 60 days until the election, according to Republican officials briefed on the matter.”
And claimed the Trump campaign “is expected to increase television spending next week, but several Republicans said that Bill Stepien, Mr. Trump’s campaign manager since July, was taking a cautious approach after the former leadership spent huge sums on television and digital ads earlier this year, to no discernible effect.”
Director of Communications Tim Murtaugh declared, “President Trump’s fundraising is breaking records and we are paying close attention to the budget, allowing us to invest twice as much from now until Election Day than we did in 2016. President Trump has also built the world’s greatest digital fundraising operation, a dominant ground game, and a third advantage Joe Biden can never match — enthusiasm.”