In the final quarter of 2023, President Joe Biden's 2024 re-election campaign, along with the Democratic Party, announced that they successfully raised over $97 million.
This achievement comes amid concerns expressed by voters regarding Biden's age, inflation, and his handling of international issues like the Israel-Hamas conflict.
The Biden campaign attributed this significant fundraising success to what they described as "strong and growing grassroots enthusiasm." Notably, the campaign actively sought support from major donors in key locations such as Washington, Boston, and California, intensifying their efforts during the year-end fundraising period.
The total funds raised between October and December surpassed the amounts collected in the preceding quarter, with a remarkable $71 million, as well as the over $66 million gathered by Barack Obama and Democrats during the fourth quarter of 2011 for Obama's successful 2012 re-election bid.
However, the fundraising total fell short of the $154 million achieved by Republican former President Donald Trump and the Republican party during the fourth quarter of 2019 for Trump's ultimately unsuccessful 2020 re-election bid. Notably, Trump and the Republican National Committee have not released their fundraising numbers for the fourth quarter of the current year.
Julie Chavez Rodriguez, Biden's campaign manager, emphasized the significance of the fundraising numbers, stating, "Our democracy and hard-fought basic rights and freedoms are on the line in 2024, and these numbers prove that the American people know the stakes and are taking action early to help defeat the extreme MAGA Republican agenda again."
Since its launch in April, the Biden campaign has successfully raised a total of $235 million. Furthermore, as of the end of December, Biden's re-election effort reported having $117 million in cash across several party-affiliated fundraising entities, marking it as the largest sum amassed by a Democratic candidate in history.
These fundraising developments coincide with the commencement of the state-by-state nominating contests, beginning with Republican caucuses in Iowa. Meanwhile, there have been calls for the Biden team to adopt a more active and aggressive approach in drawing contrasts with Trump, especially in light of concerns about Biden's economic policies, termed "Bidenomics," which have struggled to resonate with voters.
The campaign has concentrated its efforts on bolstering grassroots fundraising, aiming to address questions about their ability to attract small-dollar donors, often seen as indicators of campaign enthusiasm. The campaign reported that nearly 1 million supporters have made more than 2.3 million contributions since its launch.
While Biden's 2020 campaign achieved a record-breaking $1 billion haul, with $700 million coming from small online donations, direct comparisons with Republican rivals' fundraising cannot be made, as Biden's reported sums include party accounts controlled by Biden allies. The Republicans are still in the process of selecting their nominee, with funds being directed toward intra-party competition.
As the 2024 election year begins, Biden, 81, and Trump, 77, find themselves in a close race, with a Reuters/Ipsos poll indicating a lack of enthusiasm among many Americans for either candidate. Photo by Gage Skidmore from Surprise, AZ, United States of America, Wikimedia commons.