Biden vs. Trump: Why Democrats are worried

In a dramatic twist in the race for the White House, the campaign of President Joe Biden has managed to out-raise and outspend his rival Donald Trump, even in the wake of a less-than-stellar debate performance.

According to recent disclosures, Biden’s main campaign account raked in a whopping $64 million in June, spending $59 million primarily on campaign ads, and ending the month with a robust $95 million in the bank.

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In stark contrast, Republican contender Trump reported raising $21 million and spending about $10 million, though his campaign still boasts a hefty $128 million cash reserve.

Despite a debate on June 27 where Biden, 81, struggled to counter Trump’s aggressive and often misleading attacks, the president saw a significant fundraising boost, amassing over $5 million in the three days following the event. However, the campaign’s momentum has faced challenges in July as 35 congressional Democrats have publicly urged Biden to withdraw from the race, citing concerns over his age and debate performance.

Biden’s campaign finances, if he exits the race, could potentially be transferred to his running mate, Vice President Kamala Harris, or the Democratic Party, which raised $39 million in June alongside Biden’s efforts. Meanwhile, Trump’s Republican Party main fundraising account pulled in $67 million during the same period, highlighting the fierce financial contest ahead of the November 5 presidential election.

As national polls show a tight race, with Trump leading in several key battleground states, the unfolding financial dynamics add an intense layer to the political drama.