Donald Trump runs low on cash for campaign as legal fees drain him

Washington, Feb 1: Former President Donald Trump is literally roughing it out in the 2024 presidential race, despite being a front runner for the GOP nomination, as he is facing a cash crunch with legal fees draining him out and as he tries desperately to lock down the Republican nomination spending monies to eliminate Nikki Haley from the competition. Trump has spent more than he has earned through his donations or self-financing schemes.
As a potential 2024 Trump-Biden general election rematch looms large, President Joe Biden appears money-flush.
Trump’s campaign and super PAC both spent more than they raised in their most recent finance reports, while Biden built up more reserves, media reports claimed.
Campaign finance records filed Wednesday show the main super PAC supporting Trump’s campaign, MAGA Inc., spent more than it raised in the last six months of 2023 – primarily by transferring back $30 million to Save America, the main vehicle for paying the former president’s prodigious legal fees.
Similarly, Trump’s official campaign blew through more cash than it took in over the last three months of the year, NBC reported after perusing the campaign records of both candidates. .
That suggests that Trump’s recent threats to blackball Republican donors who don’t give money to him are about more than just loyalty: He also needs the money, media reports said.
President Biden’s campaign in comparison ended the year with $46 million in cash, far more than the $33 million Trump’s campaign held before the Iowa caucuses and the New Hampshire primary. Flash to the Future, the main super PAC backing Biden, held a little bit more in the bank than MAGA Inc., $24 million to $23.3 million, at the end of the year.
Democrats claimed on Wednesday night that Biden and Vice President Kamala Harris are stockpiling money for campaign purposes, rather than legal fights like Trump, and are in an advantageous position.
“While Donald Trump lights money on fire paying the tab on his various expenses, Team Biden-Harris, powered by grassroots donors, is hard at work talking to the voters who will decide this election and building the campaign infrastructure to win in November,” Biden’s campaign spokesman TJ Ducklo said in a statement.
Trump that way is banking on the allegations he faces as a key part of his strategy to defeat Biden in November. Trump hopes his legal woes will energize the GOP faithful for the general election and help him to persuade persuadable voters to oust Biden. (IANS)