Several top tier Democratic presidential candidates, including former Vice President Joe Biden, Massachusetts Senator Elizabeth Warren, and South Bend Mayor Pete Buttigieg, are dangerously close to running out of money, according to Politico. Minnesota Senator Amy Klobuchar is another candidate that has reportedly nearly cleaned out her coffers.
At present, Biden only has $7.1 million remaining in his war chest. Buttigieg comes next at $6.6 million, whereas Klobuchar and Warren stand at $2.9 million and $2.3 million, respectively.
Meanwhile, frontrunner Bernie Sanders has more to spend than Biden, Buttigieg, and Warren combined at an estimated $17 million. Moreover, the Vermont senator continues to earn more and more in donations as he rises in the polls.
However, even that pales in comparison to the amounts spent by billionaire rivals Michael Bloomberg and Tom Steyer. Bloomberg, in particular, is reportedly committed to spending as much as $1 billion of his own money during the campaign and is already going through as much as $7 million per day (via NBC News).
In addition, both men have already committed to spending more than $1 million in television ads in a number of states with upcoming primaries, adding pressure for the Biden, Buttigieg, Warren, and Klobuchar campaigns to up their own ad spending.
The lack of funds in the multiple campaigns comes as Super Tuesday — where one-third of the delegates are up for grabs — is quickly approaching on March 3.
“There are only a couple candidates out there with the funds to compete in all of those Super Tuesday states,” noted Ami Copeland, deputy national finance director for Barack Obama’s 2008 campaign.
As a result, many of the aforementioned candidates are appealing to voters for yet more donations in order to make a last-minute ad push before the big day.
“We are now also up against a billionaire who is throwing colossal sums of money on television instead of doing the work of campaigning,” Buttigieg wrote in a recent email to his supporters.
“We need to raise a significant amount of money — about $13 million — before Super Tuesday on March 3rd in order to stay competitive,” he added.
Warren reportedly resorted to taking out a loan to the tune of $400,000 to help fund her campaign through February. The situation has become so dire that the former Harvard Law professor resorted to taking donations from a super PAC despite declarations earlier in the race that she would not.
“If all the candidates want to get rid of super PACs? Count me in, I’ll lead the charge. But that’s how it has to be,” Warren said in defense of the move.
That said, the mass spending by Bloomberg and Steyer has not gone without criticism. Many have accused Bloomberg in particular of trying to “buy” the election, with conservative pundit Tucker Carlson calling it a “nightmare scenario,” as was previously reported by The Inquisitr.