Former Vice President Joe Biden reported Friday that he had $9 million in reserve at the end of 2019, an underwhelming sum that suggests he could struggle to compete with his better funded rivals in the weeks ahead. Biden has lagged behind Sens. With the Iowa Caucuses looming Monday, Biden's campaign
DES MOINES, Iowa — Former Vice President Joe Biden reported Friday that he had $9 million in reserve at the end of 2019, an underwhelming sum that suggests he could struggle to compete with his better funded rivals in the weeks ahead.
How much cash 2020 contenders have on hand offers a key indicator of the health of their campaign. And a poor performance in the caucuses combined with an anemic bank account balance has doomed candidates in the past. The memo to supporters Friday stated that Biden will have the resources to compete while downplaying the importance of being a leading fundraiser
Biden spent about $23 million during that period. In comparison, Sanders spent $50 million and had the most cash still on hand, with $18.2 million in the bank. Buttigieg reported that he spent $34 million during that time and had $14.5 million cash on hand, while Warren spent $33 million with $13.7 million left.Compared to Warren and Sanders, Biden faces a disadvantage.
Meanwhile, Warren and Sanders, the two leading progressives in the race, have relied on an army of small-dollar grassroots donors chipping in small amounts — a source of campaign cash that doesn't easily max out.
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