In the race for the Democratic nomination for president, one candidate – Joe Biden – has led the field from the moment he stepped into the race. Now, his campaign is sounding the alarms, warning supporters that they are spending more than they raise, jeopardizing the septuagenarian’s third presidential run. Although Biden has benefited from more big-money donors than any other candidate in the Democratic field, he still cannot keep pace with the cash flow of his main competitors.
In an email to top bundlers, Greg Schultz, Biden’s campaign manager, tried to allay concerns that the campaign will not have enough funds to remain competitive in early primary states. “We will have the resources we need to execute our plan,” Schultz wrote. But analysts say that Biden has a significant cash crunch to contend with, one that could potentially derail his campaign.
The Biden campaign currently has $9 million in cash on hand, a fraction of what other big-name candidates like Bernie Sanders ($33.7 million) and Elizabeth Warren ($25.7 million) have. He even trails other candidates who lag far behind him in national polls, such as Pete Buttigieg and Kamala Harris. To counteract the cash crunch, Biden has reversed his opposition to accepting money from SuperPAC’s, a move that is likely to stabilize his campaign, but possibly only in the short term.
Besides for fundraising problems, observers are wondering whether Obama’s Vice President can continue to sustain the withering attacks he has received from the other Democratic candidates. Biden has come under fire for various policies he previously supported and for his son Hunter’s business dealings in Ukraine, a matter that President Trump has also focused on a lot. Biden has never been a strong candidate for president – his frontrunner status is largely due to Democratic nostalgia for Obama – and the problems he faces, along with the numerous gaffes he consistently makes, could be putting his campaign on the ropes. Only time will tell how his campaign, and the race for the Democratic nomination, will ultimately play out.