(PJ Media) Joe Biden’s approval ratings may be garbage, but his campaign wants you to believe that everything is just because he’s raising a lot of money.
A recent analysis from the New York Times found that Biden’s campaign had $71 million on hand at the end of February, compared to Trump’s $33.5 million. and that was before his star-studded, glitzy fundraiser in New York City, which reportedly brought in $26 million. Like clockwork, the liberal media is using Biden’s fundraising numbers as proof his campaign isn’t dying a slow death, while simultaneously presenting Trump as struggling to raise money in his third presidential campaign.
“Former President Donald Trump may enjoy a slight lead in early polling against President Biden, but the incumbent has a significant lead in another race, which is perhaps just as important this far out from November,” Democrat strategist Douglas Schoen argued last week.
Some of Biden’s fundraising advantage has been a mirage because he has been jointly fundraising with the DNC since he launched his campaign while Donald Trump only secured the Republican nomination this month. But, even if we ignore that, a deeper dive into Joe Biden’s fundraising numbers points to big trouble for his campaign.
It comes down to who is donating to his campaign. While Biden is clearly benefiting from big donations from corporations and left-wing interest groups, he is struggling to attract small, grassroots donations.
According to a Fox Business analysis of FEC records, 35% of Biden’s 2024 re-election campaign funds stem from big donors, those contributing over $2,000. Only 38% of his donations come from small donors, those giving between $1 and $200. On the other hand, the Trump campaign boasts a remarkable 61% of its donations from small donors, with a mere 9% coming from major contributors. Compared to the previous election cycle, Biden has witnessed a 10-point increase in donations from big donors, while Trump’s numbers have decreased by the same margin.
