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Divided We Stand

Divided We Stand
New book about the 2020 election.

Sunday, March 24, 2024

Democrats' Cash Advantage, Trump's Cash Crisis

Our most recent book is titled Divided We Stand: The 2020 Elections and American Politics.  Among other things, it discusses party organizations and campaign finance.

Zachary Basu and Erin Doherty at Axios:

President Biden and his campaign have begun openly taunting former President Trump over the massive — and growing — disparity in fundraising between the two parties' presumptive nominees.

Why it matters: Democrats hold a staggering cash advantage over Republicans at virtually every level of national politics. And the money raised by Trump's political operation is increasingly flowing into a black hole of legal expenses.

By the numbers: The Biden campaign and the DNC ended February with more than twice as much cash on hand ($97.5 million) as Trump and the RNC ($44.8 million), according to new campaign finance reports.
Zoom in: Trump's leadership PAC, Save America, spent more than $6.9 million on legal-related expenses last month — equivalent to a staggering $238,000 per day, according to The Daily Beast.

Maggie Haberman and Ben Protess at NYT:
Donald J. Trump is expected to spend his Monday morning in the courtroom of a New York judge who might soon preside over his criminal trial and, ultimately, throw him behind bars. And that’s not even the legal predicament that worries Mr. Trump most that day.

The hearing in his Manhattan criminal prosecution — in which he is accused of covering up a sex scandal to pave his way to the presidency — comes as he races to fend off a financial crisis arising from a $454 million judgment in another case. The New York attorney general, Letitia James, who brought that civil fraud suit against the former president and his family business, might begin to collect as soon as Monday.

To avoid a mortal threat to the Trump Organization, Mr. Trump must persuade another company to post a bond on his behalf, promising that it will cover the judgment if he loses a pending appeal and fails to pay. Yet Mr. Trump’s lawyers in court papers said that securing the bond would be a “practical impossibility,” because he would need to pledge some $550 million in cash and liquid investments as collateral to the bond company — an admission that laid bare the former president’s cash crunch.

Unless Mr. Trump strikes an 11th-hour deal, Ms. James could freeze his bank accounts, and begin the long and complicated process of seizing some of his properties. And barring Mr. Trump’s lawyers achieving an improbable legal triumph, the judge in his criminal case could set a trial date for as soon as next month.