On Tuesday, The New York Times reported that new filings show President Donald Trump’s campaign — and the Republican Party itself — are teetering on the brink of financial oblivion.
“New filings with the Federal Election Commission showed the extent of Mr. Trump’s cash troubles, which are severe enough that he diverted time from key battleground states and flew to California on Sunday for a fund-raiser with just over two weeks until Election Day,” reported Shane Goldmacher and Rachel Shorey. “The president ended September with just over half as much money as he had at the beginning of the month.”
“While Mr. Trump’s campaign and its shared committees with the Republican National Committee have raised $1.5 billion since the start of 2019, the disclosures late Tuesday showed that his main re-election committee — the account that must pay for many of the race’s most important costs, including most television ads — had only a small slice remaining,” continued the report. “All told, Mr. Trump’s campaign and its shared committees with the R.N.C. had $251.4 million entering October, compared with the $432 million that Mr. Biden’s campaign and its joint accounts with the Democratic National Committee had in the bank. Some joint account funds are most likely eligible to be transferred to the main campaign committee.”
At the beginning of the year, Trump and the GOP had nearly $200 million more cash on hand than Joe Biden and the Democrats.
The cash crunch is leading the Trump campaign to scale back advertising, including in critical battleground states where some polls show them tied or trailing, like Ohio and Iowa, as well as states he had hoped to flip after they narrowly voted for Clinton in 2016, like Minnesota and New Hampshire.
“Mr. Trump’s campaign has been seeking to trim costs for more than two months, since Bill Stepien replaced Brad Parscale as campaign manager,” said the report. “Under Mr. Parscale, the campaign spent heavily as it invested in constructing a huge database of email addresses and phone numbers to reach supporters and ask for money. But as the election neared, hopeful projections for a large uptick in contributions have not materialized.”
US lawmakers renew stimulus push as focus shifts to Biden
President-elect Joe Biden will present his economic team on Tuesday, as a bipartisan group of senators make a renewed push for another stimulus package to help the faltering US economy.
With Covid-19 cases spiking, the world's largest economy faces an uncertain outlook that Biden and his economic team led by nominee for Treasury secretary Janet Yellen will have to work to remedy.The diverse group, with women and minorities in key roles, will face millions in jobs losses and a rising wave of small businesses shutting their doors and major corporations laying off their workers.
Outgoing Treasury secretary Steven Mnuchin agrees on the need for more federal help for workers left jobless and business battered by the pandemic.
‘Conjecture and musings’: Dem senator tears into Trump ‘election fraud’ witness at Michigan hearing
Michigan state Sen. Jeff Irwin (D) blasted former state Sen. Patrick Colbeck (R) at an election fraud hearing on Tuesday.
At a state Senate Oversight Committee hearing, Colbeck suggested that there was a plot to use voting machines to steal the election from President Donald Trump.
For his part, Irwin noted that Trump had not requested a recount in Michigan.
"If you were on the losing end, much like, say, President Trump or candidate John James, would you have requested a recount?" the Democratic lawmaker asked.
"I've doubts with the integrity of the recount process," Colbeck replied. "So, I probably would not have done that."
Dem senator shames Steve Mnuchin to his face: ‘You’re leaving the country worse than you found it’
Sen. Sherrod Brown (D-OH) on Tuesday shamed Trump Treasury Secretary Steve Mnuchin for his decision to not extend the Federal Reserve's emergency lending facilities that were designed to keep the economy afloat during the novel coronavirus pandemic.
Brown started off by giving Mnuchin a blunt assessment of the state of the economy that he will be handing off to his successor.
"Last week, 778,000 people filed for unemployment insurance," he said. "In October, 3.4 million homeowners were past due when their mortgages, many of them will run out of forbearance options by April. As many as 40 million renters will spend the holidays worrying that they will be evicted on January 1st if their government, if we don't do our job."