In Defying the Odds, we discuss the early stages of the 2016 campaign, when many candidates were unknowns. The update -- recently published --includes a chapter on the 2018 midterms. We are now in the early stages of the 2020 race.
Marc Caputo and Natasha Korecki at Politico:
Biden spent almost $2 million more than his presidential campaign raised in the third quarter, a predicament caused by sluggish fundraising coupled with the expenses of maintaining a big payroll and a nationwide operation — one that included luxury expenses such as swank hotel stays at the Westin and The W, and nearly $1 million for private jets.
His cash on hand sum of $8.9 million is so low that it’s almost four times lower than the $33.7 million banked by Sanders, nearly three times lower than Warren’s $25.7 million war chest and more than twice as small as Pete Buttigieg’s $23.3 million.
Democrats on Wednesday expressed grave reservations about whether Biden’s fundraising performance is an indication he cannot go the distance.
“It’s a high burn rate and that’s a big problem,” said Joe Trippi, a veteran of multiple presidential campaigns. “They’ve got no margin for error with what they’ve got in the bank.”
Biden’s top tier opponents vastly outraised him. And unlike the former vice president, none of them spent more than they earned, according to the campaign finance reports that were released hours after the debate.