Joe Biden is Suddenly Having Money Problems
Joe Biden seemed like the natural choice for the DNC nomination at the beginning because he was a familiar face. He was the sidekick of the golden boy, Obama, too. However, Barrack Obama still hasn’t endorsed Joe Biden, which is a huge kick to the former VP’s ego and image. Plus, there’s the whole Ukraine incident with Biden’s son, constant missteps, the unacceptable touching, and all sorts of other issues that are stacking up against Biden.
Although some of Obama and Clinton’s biggest donors are throwing money at Biden, it’s not enough. He’s incapable of matching his competition because there’s something that he hasn’t figured out yet. Not enough Americans actually want him to be president. They don’t feel as though the 76-year-old white male with a stance against abortion and the desire to follow in Obama’s footsteps is enough to get the job done – and they’re right.
There have been plenty of presidential candidates in the back of the polls waiting for Biden’s campaign to implode. If Biden can’t figure out his cash flow problems soon, they may get their wish.
Cash flow is a big deal because it is what allows presidential candidates to continue pressing forward on the campaign trail. It allows them to dump millions of dollars into Facebook, Google, and other digital sources in order to educate the American public on their campaign platform. Although Biden is getting more big-ticket donors than anyone else, he’s not getting the job done. This is because he isn’t focusing on grassroots like Warren, Buttigieg, and others.
Biden’s campaign isn’t broke, however. He has still managed to raise $20.7 million from contributions – many of which are at least $500 individually.
The biggest problem is that he isn’t the leader of the pack when it comes to fundraising. He may be dominating the big-dollar donations, but the small-dollar donations are where it sat – and they prove to be the most important. Many of his other competitors are out-fundraising him and stockpiling cash at incredible rates that can cause Biden’s campaign to stumble later on. The Democrats who are donating to Biden’s campaign feel that he is the strongest candidate to beat Donald Trump – and even Donald Trump believes that Biden is his biggest competition.
More expensive caucuses and primaries are coming up, which means Biden needs the money – and he may not have the ability to compete effectively with some of the other top contenders. He’s getting big money from individuals, but the others are getting small amounts from a large number of individuals – which proves that they could have more votes in the end, too. After all, it comes down to the number of people who are willing to support a candidate. They may not be capable of writing checks for $500 or more but they are capable of showing up to the polls.
Kamala Harris is second in line for getting big-money donors, though she is failing in the polls. Pete Buttigieg is sitting at third, which means that everyone has their eye on him to see what he is able to do with all of the fundraising money that he is doing – as well as the rise in the polls. Especially if Biden stumbles, it could mean more people turning to Buttigieg as the Democrat to vote for since Warren and Sanders have gotten in the game of trying to out-left each other.
Many Democrats are concerned that Biden is getting into a point of no return. You can’t suddenly create an online fundraising mechanism in the next six months that will allow him to catch the other candidates. He also can’t hold a fundraiser every single night.
Biden was one of the late launchers, too. He waited until late April to launch his campaign while others started in February or March. Although Biden advisers have identified that online fundraising has picked up dramatically, still not enough to put him as a top contender for fundraising – and this could prove to be extremely dangerous as we near closer to the beginning of the year.
Plenty of people, Republicans, and Democrats alike have been wondering whether Joe has the ability to stay in the game at all – especially as more people are probing into what really happened in Ukraine when he served as vice president. Many also question just how much he was able to help his son achieve a salary of $50,000 a month with a Ukraine-based company. With all of the negative headlines and the lack of significant fundraising, Biden may not make it to the Iowa caucus.