After reports that the Trump campaign, including Brad Parscale, spent money lavishly, the President is now considering doling out $100 million of his own cash to help his reelection chances in November, according to Bloomberg. And that’s interesting since Donald Trump’s net worth has dropped an estimated $600 million since last year, to $2.5 billion, according to Forbes, noting that puts him at number 339 on The Forbes 400 list, down from sixty-four spots from a year ago.
And until we see Trump’s tax returns, we’ll never know if his reported wealth is legit or not really. Personally, I’m of the notion that the president is drowning in debt.
The New York Times reports that “of the $1.1 billion that his campaign and the party raised from the beginning of 2019 through July, more than $800 million has already been spent.” The outlet further says that some people inside the Trump campaign forecast a cash crunch with less than 60 days until the election.
So, it’s not looking good for Donald J. Trump.
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And now, according to Bloomberg, Trump has discussed with multiple people the idea of forking over $100 of his own money into his campaign; however, he hasn’t yet committed to any self-funding.
Though Trump personally contributed $66 million to his 2016 campaign, it would be unprecedented for an incumbent president to put his own money toward winning a second term.
In 2016, Trump said, “I’m self-funding my own campaign. It’s my money,” but of course, that wasn’t true. And Trump’s 2020 campaign and the RNC reportedly burned through hundreds of millions of dollars. Meanwhile, Democratic presidential nominee Joe Biden entered the race fairly broke, and now the former vice-president is a fund-raising powerhouse. The Biden campaign posted a record-setting haul of nearly $365 million in August.
Trump seemed to confirm that he might help to fund his campaign on Twitter — in a gibberish sort of way.
….Like I did in the 2016 Primaries, if more money is needed, which I doubt it will be, I will put it up!
— Donald J. Trump (@realDonaldTrump) September 8, 2020
Trump’s attacks on mail-in voting are backfiring. Kevin McCarthy, the Republican Party’s top House lawmaker, told Axios that Trump’s war on mail-in voting could backfire.
“We could lose based on that,” McCarthy told the outlet, saying he had personally addressed the issue with the president.
Trump is down in the polls, even in battleground states. His messaging so far has been ineffective as he tries to paint Biden as a socialist, Marxist, communist from the deep state, and possibly an undercover Antifa supersoldier that has dementia.
So, yeah, Trump may need to fork over some hard cash. Maybe a loan from Deutsch Bank would work?