President Joe Biden's chances of re-election in 2024 are becoming bleak as his campaign struggles to secure donations.
Last month, Biden's re-election campaign ended with only about $20 million in the bank, while former President Trump garnered $22 million plus— according to financial disclosures released Saturday.
Compared to other presidential candidates in the past, Biden's campaign funds are barely breaking the surface. Former President Obama had $37 million in 2011, while Trump had over $56 million in June 2019.
This week, Biden's campaign announced his campaign, when including the Democratic Party's accounts, had $77 million in the bank. Meanwhile, Trump's campaign and political action committee raised over $35 million during the second quarter of 2023.
Biden's most serious Democrat challenger, Robert F. Kennedy Jr., reportedly raised over $6 million through June.
According to the disclosures filed to election regulators, Trump's re-election effort spent roughly $9 million in the three months through June, more than any other campaign.
On the contrary, Trump's top 2024 rival Gov. Ron DeSantis (Fla), had about $12 million in his campaign account. Notably less than the $21 million Sen. Tim Scott (R-S.C.) since launching his campaign in May.
DeSantis reportedly had a strong start, raising $20 million in total. However, his campaign is burning through fast at a rapid rate, spending nearly $8 million since he announced his run for the White House.
Democrat donors are panicking over Biden's "slow start" on the campaign trail.
A CNN report pointed out that the lack of campaign staff and money raised since Biden announced his campaign is sparking concern among Democrats, especially compared to the $86 million former President Obama raised for his re-election campaign in 2011.
Big donors still need to confirm their support for the 80-year-old president, and grassroots emails only bring in just a few thousand dollars.