Clinton’s Burn Rate Is 88.75% For Q3, 57.6% For Campaign
The Clinton campaign proudly touted their Q3 fundraising haul and cash on hand numbers at about noon today:
We’re still counting, but @HillaryClinton has more than $32m on hand after raising a non-incumbent record $28m+ in Q3
— Josh Schwerin (@JoshSchwerin) October 1, 2015
While Clinton raised $28 million, Vermont Senator Bernie Sanders raised $26 million.
And despite their boasting, Clinton’s camp’s burn rate is an obscene 57.6 percent from the start of the campaign. That rate accelerated for Q3, which saw a burn rate of 88.75 percent—meaning they spent almost 89 percent of what they brought in.
Where did the money go? Millions have gone into TV ads in early states like Iowa and New Hampshire, where Clinton is cratering in the polls.
And it’s a far cry from the anecdotes the campaign was pushing when Clinton launched in April.
A reporter followed Clinton campaign Chairman John Podesta as he rode the bus (Les Miserable!) from New York to Washington.
In April, the campaign told reporters the campaign office printer’s default was set to double-sided.
And campaign manager Robby Mook forlornly told donors, hat in hand, that he would not be reimbursed for his cab ride to that day’s donor meeting.
Maybe if Clinton stopped taking trips on these, there would be a little more money to go around:
And here’s a breakdown of where some of the money went in Q2, when Team Clinton spent $18.7 million.