Joe Biden’s Cash Crunch is an Existential Crisis for the Campaign

Joe Biden’s cash crunch is bad news for the viability of his campaign. Two weeks ago Politico exposed the looming Biden cash crunch as he fights a two-front war against primary opponents and Republicans.

His lackluster performance so far not only disputes the notion he’d be a strong challenger to the President but also that he can’t keep pace with primary rivals.

Politico: “…you do all the big fundraisers in the big cities. Once you do that, that’s it. If you don’t have that perpetual, low-dollar fundraising machine, you can’t compete…Biden looks like he can’t compete with Warren, Bernie and Buttigieg. How’s he going to compete with Trump?”

Now that he has reported $9 million in cash on hand and spending more than he brought in last quarter, it’s clear that Biden’s campaign will face fresh questions about how he can compete in an expensive marathon primary. 

Politico: “Two-thirds of the Democratic presidential candidates spent more than they raised in the last three months and have dwindling cash reserves — a serious warning sign for their viability heading into the expensive chase for votes in Iowa and other early states.

“Among the candidates in the red last quarter was Joe Biden, who ended September with less than half the cash on hand, $9 million, of any of his top rivals. And while most other candidates have even less in their bank accounts, which could force some of them from the race before Iowa, the former vice president is set to be seriously outspent in the advertising and organizing battles that will soon ramp up in the first caucus state.”

Biden’s money problems are now an existential crisis for the campaign and if he doesn’t turn it around soon, he’ll end up on the sidelines sooner than anyone anticipated.