Biden Campaign Rakes In Record-Breaking $71 Million Fundraising Quarter – President Joe Biden’s reelection campaign and the Democratic Party reported an astonishing fundraising figure of over $71 million for the third quarter of the year, showcasing a substantial lead over former President Donald Trump and other GOP primary candidates.
Ending the quarter with a robust $91 million, President Biden’s political operation with the Democratic National Committee exhibited remarkable financial prowess. Although the campaign did not specify the allocation of the funds between the campaign and the party committee, this significant achievement underscores the strength of support for Biden’s reelection efforts.
Jeffrey Katzenberg, the campaign co-chair, told CNN that the figure exceeded the campaign’s high-bar goals for the July to September period, which typically witnesses slower fundraising momentum. Katzenberg emphasized that this financial success empowers Biden to focus early resources toward the general election while Republicans navigate their primary.
“The momentum is continuing to build for him. As the stakes of the election are becoming clearer and the choice could not be more distinctive, the enthusiasm grows,” Katzenberg said, stressing the campaign’s focus on strategic states pivotal to the election’s outcome.
The campaign also noted an expansion in their grassroots network during this quarter. With the average grassroots contribution being $40 and 97% of all donations being under $200, the campaign highlighted its broad-based support.
The fundraising figure comes at a time when President Biden faces low approval ratings and concerns about his age. However, Katzenberg argued that this impressive fundraising haul demonstrates the electorate’s enthusiasm for President Biden’s candidacy.
“Biden’s latest fundraising figure is higher than that raised by the candidates in the Republican presidential primary, according to the amounts reported so far,” the report stated, underscoring Biden’s financial lead over the GOP field.
The report also highlighted Biden’s strategic use of online tactics and in-person fundraisers, as well as innovative approaches like selling “Dark Brandon” mugs to raise funds. In-person events and early joint fundraising agreements have allowed the president to effectively raise money for his campaign, the Democratic National Committee, and state parties.
Experts: Biden ‘In Control’ Of Dems
Adam Bruton, a Senior Researcher at the London-based intelligence firm Winter Circle Ltd told 19FortyFive that the surge in funding meant that “Biden is learning from and trying to avoid the mistakes from 2016.
“Obama in ‘08 and ‘12 had raised a lot of cash for his own presidential campaign, but very little for the DNC. The DNC was therefore nearly bankrupt in 2015-16 so entered a fundraising deal w Hillary Clinton in exchange for support during the primary. This obviously blew up w the whole Bernie thing and Wikileaks stuff
“In raising jointly with the DNC Biden not only ensures the party has enough funds to run hard down ballot, giving them the trifecta they hope to have in 2024, but also keeps the party machinery loyal to him, which is very important right now with open questions as to whether Biden is the right guy
“Biden is cementing his control of the party, and fighting to ensure a trifecta in his second term. Overall this will probably mean a very tough time for the GOP in winning control of Congress next year.”
Georgia Gilholy is a journalist based in the United Kingdom who has been published in Newsweek, The Times of Israel, and the Spectator. Gilholy writes about international politics, culture, and education.