in the vicinityVideoBiden defends campaign funds as its cash on hand remains behind rivals
Joe Biden has $8.98 million cash on hand compared to sen. Bernie Sanders’ $33.7 million.
The former Vice-President, Joe Biden presidential campaign, sent a fundraising E-Mail this week, and claimed that it has not increased as much money as his competitors, after he expected more than in the third quarter, according to a report.
In the third quarter filings with the Federal Election Commission (FEC) show Biden has only $ 9 million in cash on hand, less than half of what his two top competitors for the 2020 democratic nomination — Sens. Elizabeth Warren, D-Mass., and Bernie Sanders, I-Vt. – reported, according to The hill.
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“I hate to say it, but our opponents are far ahead of us when it comes to money in the bank”, a campaign fundraising E-Mail for Biden said. “If we don’t have the pace here, we might to cuts, the wounded, perhaps seriously our momentum in the primary.”
Less cash means the campaign to fight for the answers to “the trials and tribulations of this race — and with Donald Trump constantly pushing his false smear campaign against Joe, this is a HUGE problem,” says the letter.
The letter closes with an appeal, according to The hill.
“We can’t afford to be behind in, therefore, I ask you to take the step now and make a donation to the fuel for our campaign.”
Democratic operative Michael Ceraso, said Biden, the cash flow could dry “, as the primary enters the homestretch, which may prevent the VP of competition and challenge his opponents in the Super Tuesday States and beyond.”
Biden is money in a greater rate than the amount he raised, with a burn-rate of 112 percent. Warren’s burn rate – the speed in which the candidates spend their campaign cash was a very modest share of 76 percent.
The 76-year-old former Vice-President began, is a solid frontrunner in the polls, but more recent polls have shown Warren either catch up or surpass him.
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FEC filings show Warren $25.7 million in cash on hand and Sanders $33.7 million.
Fox News’ Joshua Nelson contributed to this report.