As US President Joe Biden raises record amounts of money for his political campaign ahead of the November election, Republican candidate Donald Trump’s White House bid appears to be in jeopardy as the Democrat appears to have a financial lead to his opponent.
On Thursday, Biden reportedly raised more than $26 million at a lavish fundraiser at Manhattan’s Radio City Music Hall in the presence of his predecessors, Barack Obama and Bill Clinton. CNN.
The 81-year-old now has a cash advantage and can spend more on campaigns in key states.
The event didn’t go unnoticed by Trump, who called the entertainment guests “crazy Hollywood liberals.”
Trump’s campaign argued that the extravagant event showed the Democratic Party’s reliance on the wealthy, while the Republican base of support is the working class.
In a speech that emphasized the importance of November’s presidential election to American history, Senate Majority Leader Chuck Schumer, D-N.Y., said viewers must do everything they can to ensure that Donald Trump’s “not “The honest, chaotic, ineffective regime” has not returned.
Former President Trump has been facing a cash crunch, including four criminal indictments, a significant portion of which went to pay for attorneys’ fees.
The 77-year-old faced a deadline last week to post bail of up to $464 million in a civil fraud case, but on Monday an appeals court reduced the amount to $175 million.
Responding to speculation of a cash shortage, Donald Trump wrote on his social media platform Truth Social that he has nearly $500 million to support his campaign.
Recently, Biden claimed to have $155 million in cash on hand, while Trump and his campaign committee had $74 million.