President Joe Biden’s 2024 re-election team and the Democratic Party announced Sunday that they managed to raise $71 million in the last quarter. This economic boost comes as Biden’s age and approval rating are a concern for donors.
The $71 million raised this quarter is remarkably similar to the $72 million raised by Biden and the Democratic Party last quarter. It should be noted that the period from April to June was reduced by 25 days when the Biden campaign began in late April. In addition, the July-September period, more than a year before the election, is traditionally slow in terms of fundraising efforts. The Democratic reelection effort reported $91 million in cash at the end of September, which was distributed to various party-affiliated fundraising organizations
President Biden is now 80, and had to face doubts about his age as he seeks another four-year term in 2024. Recent polls have revealed concerns about his age and dissatisfaction among Democratic voters.
The Biden campaign, headquartered in his hometown of Wilmington, Delaware, plans to use the money raised to hire staffers, organize in competitive states and launch an ad campaign against a potential Nov. 11 challenger. 5, the 2024 election former President Donald Trump Further recruitment is expected to make an effort in the coming weeks to build a campaign.
For comparison, former President Trump and the Republican National Committee raised $125 million in their re-election efforts in the third quarter of 2019. It’s important to note, however, that some of the fundraising initiatives announced by the Biden campaign include group accounts controlled by his allies, complicating direct comparisons with Republican candidates.
It should be noted that the Republicans have yet to choose a nominee, and are currently directing their campaign funds toward the internal race.
Former President Trump, by contrast, recently reported raising more than $45.5 million for the July-September period. His closest rival, Florida Gov. Ron DeSantis, made $15 million in the same period. Trump’s fundraising efforts have been backed by those who believe the criminal charges against him were politically motivated.
Biden’s popularity now has one of its lowest presidential ratings, with only 40% of Americans approving of his performance, according to a recent Reuters/Ipsos poll
A balancing act in a chaotic world
President Biden has faced the daunting task of managing campaign promises while dealing with a series of tough issues in Washington. These include a closed government, a leaderless Cabinet, strikes by auto workers, natural disasters such as the Hawaiian wildfires, the ongoing Ukrainian conflict, tensions with China and now the outbreak of war in Israel.
Biden’s campaign has actively focused its resources on boosting grassroots fundraising efforts. This approach comes in response to questions about their ability to attract small-dollar donors, often considered a barometer of campaign enthusiasm. Small donors played a significant role in Biden’s record-breaking $1 billion haul in 2020, with $700 million stemming from small online donations.
Notable initiatives that have contributed to online grassroots fundraising include a “Meet the Presidents” fundraising contest that raised nearly $2.5 million and the sale of “Dark Brandon” mugs and accompanying videos, which have generated $2 million in revenue since August.