Nearly half of Democratic candidates spent more campaign cash than they raised in the second quarter of the year
Months of bleak polling couldn’t stop the parade of lower-level Democrats crowding into the presidential primary.Eleven Democratic presidential candidates — nearly half of the sprawling field — spent more campaign cash than they raised in the second quarter of the year, according to new financial disclosures filed Monday.
Former Colorado Gov. John Hickenlooper spent a half-million dollars more than he raised in the second quarter, finishing June with $840,000 in his campaign account. Former Housing and Urban Development Secretary Julián Castro spent more than 80 percent of the amount he raised, despite a fundraising bounce following his highly regarded debate performance in the closing days of the fundraising period. He was left with about $1.1 million.
He said, “If you don’t have the money, you’re not going to have the infrastructure. And if you don’t have the money or the infrastructure, what are you going to do to break through? At this point, it’s just very, very tough.” “We had the money in our account to continue to try and qualify for the upcoming debate,” Swalwell said. “But we believed that even if we had done that, that when we looked at the September debate, it just wouldn’t add up.”
“Money is a measure of viability,” said Kelly Dietrich, a former Democratic fundraiser and founder of the National Democratic Training Committee, which trains candidates across the country. “And a bad fundraising quarter — your viability will plummet, and it’s really hard to turn around.”
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