Former Vice President Joe Biden burned through his campaign donations at a blistering pace over the summer — spending more than he took in and leaving himself just a fraction of the cash available to his better-funded rivals for the Democratic presidential nomination.
Biden’s campaign entered October with $8.98 million remaining in its bank account, after spending more than $17.6 million during the July-to-September quarter.
Biden raised $15.7 million during the quarter, according to a report filed by his campaign on Tuesday, shortly after the conclusion of the fourth Democratic presidential debate.
The cash Biden has remaining a little more than three months before the Iowa caucuses puts him at a financial disadvantage to rivals such as Sen. Bernie Sanders of Vermont, who reported having more than $33 million stockpiled for the primary slog ahead.
We call that a “cash flow” problem. It usually does not end well.
It’s not clear when this problem started. At the same time, it does not matter, because cash is necessary to open all of those offices in Iowa and New Hampshire.
Will Mr. Biden be dropping out? He may not have a choice unless he can get his son Hunter to make a deposit to the campaign bank account.
