Which presidential candidate currently has the most money?
Critical Analysis
Based on the data from the visual above, as of Q2 (the second quarter) of 2023, what presidential candidate ended the quarter with the most cash on hand?
How many presidential candidates raised over $1 million in Q2?
Which presidential candidates spent the most money in Q2?
Based on the visual above, make a prediction about who will be the Democratic and Republican candidates in the 2024 general election?
Based on the visual above and your knowledge of the American political process, explain why there are so many more Republican than Democratic candidates for president.
As the first election day draws closer, cash on hand indicates a candidate’s ability to buy television, radio, and social media and to mount an effective get-out-the-vote operation, which is why the FEC report showing that Trump has spent $20 million on legal fees out of his campaign coffers is making headlines. Further, with many court dates coinciding with the primary calendar, Trump may have to spend time in court instead of in additional campaign. Explain how his legal woes could impact the Trump campaign.
Many people think that money is the most important thing in politics, but the 2020 race for the Democratic presidential nomination shows that money alone is not the only thing that matters. The winner of the 2020 nomination, Joe Biden, spent less than his chief rival — $108 million compared to the $200 million expended by Sen. Bernie Sanders. And in the crucial month of February 2020 before Biden won in South Carolina and captured the nomination days later on Super Tuesday — Biden had less money on hand than all the other candidates who qualified for the debate stage — $12 million. The 2020 Democratic nomination race also featured two billionaires — Tom Steyer, who spent $341 million of his own money and Mike Bloomberg, who spent $1.1 billion of his own money, which yielded very few convention delegates for either individual. Based on this information and your knowledge or American politics, explain the role of money in campaigns.
The presidential primaries don’t really begin until next January when people start actually vote in caucuses and primaries. We are currently in what is known as the invisible primary, or the money primary when the first well-known presidential candidates with strong political support networks show interest in running for president and begin to raise money and support. At this stage of the invisible primary, low levels of cash on hand can also indicate that a candidate is weak because he or she is having to spend a lot of money to raise money. Which of the candidates above, would you say are losing the invisible primary?
The need to raise money explains the case of Gov. Doug Burgum (R-ND) who made national news by offering anyone who contributed $1 to his campaign a gift certificate worth $20. Does Burgum have a good strategy?
Robert F. Kennedy Jr. — a conspiracy theorist with a famous name, whose conspiracies are more attractive to Republican than Democratic primary voters, raised over $6 million in Q2. A substantial portion of his money has come from people who previously only gave to Republicans. Explain why a Republican might want to support Robert F. Kennedy Jr.?
Learning Extension
Action Extension
Contact your favorite presidential candidate and see how you can support or volunteer for their campaign.