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Democracy NowOct 08, 2023
Biden Raises $71M in Third Quarter, Outpacing Trump and GOP
Image copyright: Mark Makela/Getty Images
The Facts
Pres. Joe Biden’s 2024 reelection campaign has revealed it raised more than $71M during the third quarter of 2023, bringing its total war chest to $91M.
Biden’s $91M is more than any other Democrat has ever raised at this point in a campaign, and it’s more than double the cash on hand for former Pres. Donald Trump, who polling shows as the overwhelming favorite for the Republican nomination.
The Spin
Democratic narrative
Based on the president’s polling, few expected him to do so well in the fundraising game. Well, here he is putting up big numbers and not just in the total amount raised. Biden has seen an increase in new donors and also in ones who have pledged to donate on a monthly basis. Whatever the polls say, the president has a historic amount of cash on hand to make a robust push for his 2024 re-election.
Republican narrative
Biden might be doing well in terms of fundraising, but he has the advantage that he’s the lone candidate on the Democratic side. Trump’s totals are impressive considering how much competition there is for Republican donations. More impressive, however, is the 40-point lead Trump has on his rivals and the momentum that’s building toward ending the failed Biden administration and restoring Trump’s winning strategies to the White House.