The Washington Post reports that "President Trump’s campaign, the Republican Party and two affiliated committees, have spent more than $1 billion since 2017, a record-breaking sum spent toward a reelection effort at this point in the presidential campaign."
By way of comparison, former President Barack Obama's 2012 re-election campaign and the Democratic National Committee had only spent $643 million by this point in the election cycle.
However, this massive Trump campaign spending hasn't made a dent in Biden's lead.
And while the Trump campaign hasn't closed the polling gap, the Post reports that the Biden campaign is closing its money gap with the president's operation.
"The two campaigns and their affiliated parties entered August with the most comparable cash-on-hand figures than they have reported so far, as Biden continued to close his cash gap with Trump," the paper writes. "Trump reported entering August with more than $300 million, and Biden reported about $294 million."