Some Surge, Others Sputter: 5 Lessons From the Democratic Fund-Raising Reports

Ms. Warren made one of the biggest gambles of the race in February when she swore off holding high-dollar fund-raisers. It paid dividends this spring as she tripled her haul from small contributors to $19.2 million. Ms. Warren has adopted a strategy of spending heavily — her campaign spent nearly 90 percent of what it raised in the first quarter, and then doubled its spending to more than $10 million in the second quarter. She now has more than 300 people on payroll, which gives an organizational advantage but also means her fund-raising must keep pace lest she be forced into future cutbacks.

Ms. Warren now has $19.8 million cash on hand.

Mr. Sanders remains one of the 2020 race’s top fund-raisers even without a signature moment in the last three months. But the fact that Ms. Warren surpassed him — he collected $18 million — is a potential cause for concern.

Perhaps even more notable is that the 2020 Sanders campaign was out-raised by the 2016 Sanders campaign in its first two quarters. Then, he was a scrappy underdog foil to Hillary Clinton; now he has tried to position himself as a front-running alternative to Mr. Biden while holding Ms. Warren at bay.

Source: The New York Times

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Democracy • Racism • Double act • Hillary Clinton • Joe Biden • Earl Warren •