Democratic Primaries

left-of-center2012

(34,195 posts) Fri Oct 25, 2019, 11:16 AM Oct 2019

What, Me Worry? Biden Says Lax Cash No Problem

Joe Biden maintains he’s the front-runner in the campaign to be the Democratic nominee in 2020 and that being short on cash isn’t a problem.

“We’re on a course to do extremely well,” Biden told CBS News anchor Norah O’Donnell in an interview that is airing in full Sunday. “I’m not worried about being able to fund this campaign. I really am not, truly.”

Federal Election Commission filings recently showed the former vice president with less than $9 million on hand, the smallest cash reserve among the five top polling candidates in the race. Senator Elizabeth Warren, who has recently risen to challenge Biden for first place in the polls, had a $16.7 million advantage over him in cash on hand. Senator Bernie Sanders had the biggest cushion, with a $24.7 million edge.

“I know I’m the front runner,” Biden said.
“Find me a national poll with a notable-- a couple exceptions---- but look, this is a marathon.”

https://www.bloomberg.com/news/articles/2019-10-25/what-me-worry-biden-says-lax-cash-no-problem-campaign-update?srnd=politics-vp

If I were to vote in a presidential
primary today, I would vote for: Joe Biden

15 replies

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What, Me Worry? Biden Says Lax Cash No Problem (Original Post) left-of-center2012 Oct 2019 OP

Part of the reason that Bernie has such a large fundraising edge TexasTowelie Oct 2019 #1

LOL ok. HerbChestnut Oct 2019 #2

Read the OP. TexasTowelie Oct 2019 #3

According to the WSJ... sacto95834 Oct 2019 #4

It happens all the time. No big deal. Autumn Oct 2019 #5

I agree. sacto95834 Oct 2019 #7

Read the entire post again. TexasTowelie Oct 2019 #10

Yep, the money he transferred still came from his supporters for his other campaigns. Autumn Oct 2019 #14

If I recall correctly TexasTowelie Oct 2019 #6

The WSJ says... sacto95834 Oct 2019 #8

I am not doubting you on what you read in the WSJ. TexasTowelie Oct 2019 #13

His fund raising is going well, better than some. nt Autumn Oct 2019 #11

OK /nt tonedevil Oct 2019 #12

As did EW to the tune of 10 million. Thekaspervote Oct 2019 #9

I thought she had also transferred money between accounts, TexasTowelie Oct 2019 #15

TexasTowelie

(112,236 posts)

1. Part of the reason that Bernie has such a large fundraising edge

Reply to left-of-center2012 (Original post)

Fri Oct 25, 2019, 11:20 AM

Oct 2019

is because he has transferred money from his 2018 Senate campaign and he may have also transferred money from his 2016 presidential campaign.

If I were to vote in a presidential
primary today, I would vote for: Joe Biden

HerbChestnut

(3,649 posts)

2. LOL ok.

Reply to TexasTowelie (Reply #1)

Fri Oct 25, 2019, 11:24 AM

Oct 2019

Let's just ignore the millions of donors and individual contributions he's received so far. BTW, why even bring up Bernie in this thread? The OP is about Biden.

If I were to vote in a presidential
primary today, I would vote for: Undecided

TexasTowelie

(112,236 posts)

3. Read the OP.

Reply to HerbChestnut (Reply #2)

Fri Oct 25, 2019, 11:28 AM

Oct 2019

It specifically mentions Bernie's fundraisimg lead. That's why I pointed out the fact that Bernie has transferred money from his previous campaigns.

If I were to vote in a presidential
primary today, I would vote for: Joe Biden

sacto95834

(393 posts)

4. According to the WSJ...

Reply to TexasTowelie (Reply #3)

Fri Oct 25, 2019, 11:37 AM

Oct 2019

Bernie transferred $6 million from his other campaigns to his current 2020 presidential campaign.

If I were to vote in a presidential
primary today, I would vote for: Undecided

Autumn

(45,106 posts)

5. It happens all the time. No big deal.

Reply to sacto95834 (Reply #4)

Fri Oct 25, 2019, 11:46 AM

Oct 2019

Funds can be transferred between authorized committees of the same candidate without limit as long as the committee making the transfer has no net debts outstanding.

https://www.fec.gov/help-candidates-and-committees/making-disbursements/transfers/

If I were to vote in a presidential
primary today, I would vote for: Undecided

sacto95834

(393 posts)

7. I agree.

Reply to Autumn (Reply #5)

Fri Oct 25, 2019, 11:50 AM

Oct 2019

The tone of this post makes it seem the only reason Bernie has so much cash on hand, ~$25million is because of the transfers. Whereas poor Joe didn't have a bank. But that is NOT the case. $25million - 6million > the ~$9 million Joe has on hand.

If I were to vote in a presidential
primary today, I would vote for: Undecided

TexasTowelie

(112,236 posts)

10. Read the entire post again.

Reply to sacto95834 (Reply #7)

Fri Oct 25, 2019, 12:07 PM

Oct 2019

I said "part of the reason."

Another reason that Bernie has a lead in fundraising is that he has the list of contributors from his prior campaign that he never shared with the DNC. That gives him a significant advantage compared to the other candidates since he can go back to the same well he relied upon previously.

If I were to vote in a presidential
primary today, I would vote for: Joe Biden

Autumn

(45,106 posts)

14. Yep, the money he transferred still came from his supporters for his other campaigns.

Reply to sacto95834 (Reply #7)

Fri Oct 25, 2019, 12:16 PM

Oct 2019

He still has his list It's time for me to donate LOL

If I were to vote in a presidential
primary today, I would vote for: Undecided

TexasTowelie

(112,236 posts)

6. If I recall correctly

Reply to sacto95834 (Reply #4)

Fri Oct 25, 2019, 11:50 AM

Oct 2019

I think that Bernie had $9.1 million in his Senate campaign account and $4.7 million in his 2016 presidential campaign account. Transferring money among accounts is a way to make it look like fundraising is going well.

If I were to vote in a presidential
primary today, I would vote for: Joe Biden

sacto95834

(393 posts)

8. The WSJ says...

Reply to TexasTowelie (Reply #6)

Fri Oct 25, 2019, 11:56 AM

Oct 2019

$6 million. I cannot link the article as it's behind it's pay wall. Bummer.

If I were to vote in a presidential
primary today, I would vote for: Undecided

TexasTowelie

(112,236 posts)

13. I am not doubting you on what you read in the WSJ.

Reply to sacto95834 (Reply #8)

Fri Oct 25, 2019, 12:14 PM

Oct 2019

If what I recall is correct, then it means that he has about $8 million more that he can transfer from his other accounts to the current presidential campaign account.

If I were to vote in a presidential
primary today, I would vote for: Joe Biden

Autumn

(45,106 posts)

11. His fund raising is going well, better than some. nt

Reply to TexasTowelie (Reply #6)

Fri Oct 25, 2019, 12:09 PM

Oct 2019

If I were to vote in a presidential
primary today, I would vote for: Undecided

tonedevil

(3,022 posts)

12. OK /nt

Reply to TexasTowelie (Reply #6)

Fri Oct 25, 2019, 12:10 PM

Oct 2019

If I were to vote in a presidential
primary today, I would vote for: Undecided

Thekaspervote

(32,773 posts)

9. As did EW to the tune of 10 million.

Reply to TexasTowelie (Reply #1)

Fri Oct 25, 2019, 11:58 AM

Oct 2019

If you do the math....

If I were to vote in a presidential
primary today, I would vote for: Joe Biden

TexasTowelie

(112,236 posts)

15. I thought she had also transferred money between accounts,

Reply to Thekaspervote (Reply #9)

Fri Oct 25, 2019, 12:21 PM

Oct 2019

but I wasn't aware it was such a large amount for Warren.

I don't think that JB has anything to worry about. He was never known for his fundraising prowess in his earlier campaigns either and the third quarter preceding an election year is usually a time when fundraising is weak.

If I were to vote in a presidential
primary today, I would vote for: Joe Biden

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