Why Money is an Asset to an Winning Campaign

Hello!  I have gotten a lot of emails asking for money to support political candidates.  You may see campaign ads on Facebook asking for money.  Why do candidates ask us for money?  It takes a lot of money to run for office. 

Running a campaign involves fundraising for money to support ads introducing the candidate or criticizing the opponent on the TV, social media, and radio.  Not just that, but the campaign needs to support and pay their staff and provide infrastructure.  

Because of the 1972 presidential campaign where it involved serious financial abuses, the U.S. Congress set up an independent agency called the Federal Election Commission (FEC).  Presidential candidates are required to file campaign reports regularly to FEC for oversight.

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For the 2020 election, which presidential candidate has the financial advantage?  Even though the Trump campaign had a fundraising head start, the Biden campaign has raised $809 million, more than any candidate in U.S history, while the Trump's re-election team has raised $552 million, according to the Center for Responsive Politics, a campaign watchdog organization. 

We need to remember that money does not necessarily win elections.  Hillary Clinton lost the 2016 presidential election despite outspending Trump.  With Biden having more money, it means he can focus on spending more in battleground states like Pennsylvania and Florida. 

Another data from the Center for Responsive Politics shows that the 2020 presidential and congressional races are predicted to cost $1 billion, which makes it 50% more expensive than the 2016 election.  The presidential election alone is predicted to cost $5.2 billion, double of the 2016 presidential election.

We are almost one week from the election!  That is all for now.  I will see you next time.