Billionaire Democratic presidential candidate Tom Steyer wasn't able to spend his way into the DNC's September debate
The Democratic hedge fund billionaire leapt into the presidential campaign late with a clear plan: use his mega-wealth to buy his way into the televised party debates, and then use that platform, and his unelected outsider persona, to challenge the front-runners. Steyer spent millions of dollars on TV ads to boost his poll numbers in early caucus and primary states and on digital ads to meet the donor requirements set by the Democratic National Committee.
“Tom Steyer is the only one who has been able to spend enough to get the name recognition and the support in the early states” with paid media, said Patrick Murray, director of the Monmouth University Polling Institute, which conducts polls that helped determine which candidates qualified for DNC debates this year. “You can’t turn on a TV in those early states without seeing a Tom Steyer ad.”
“He didn’t get into the debate because his message is faulty, and with $20 million he should have been able to do it,” said Sheinkopf. “It’s not good advertising: It’s well cut, it’s pleasing to the eye, but it’s not evocative.
In the two DNC-approved Iowa polls conducted since Steyer entered the race, Steyer scored 2 percent and 3 percent, respectively — good enough to count toward debate qualification, but far from establishing him as a major factor in the caucuses after his TV ad blitz.
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