“Biden Has $466 Million in Bank, and a Huge Financial Edge on Trump”

Shane Goldmacher for the NYT:

Joseph R. Biden Jr.’s campaign said on Sunday that it entered September with $466 million in the bank together with the Democratic Party, providing Mr. Biden a vast financial advantage of about $141 million over President Trump heading into the intense final stretch of the campaign.

The money edge is a complete reversal from this spring, when Mr. Biden emerged as the Democratic nominee and was $187 million behind Mr. Trump, who began raising money for his re-election shortly after he was inaugurated in 2017. But the combination of slower spending by Mr. Biden’s campaign in the spring, his record-setting fund-raising over the summer — especially after he named Senator Kamala Harris of California as his running mate — and heavy early spending by Mr. Trump has erased the president’s once-formidable financial lead.

Mr. Trump and his joint operations with the Republican National Committee entered September with $325 million, according to Mr. Trump’s communications director, Tim Murtaugh.

The Trump campaign pulled back on its television spending in August to conserve money, as some campaign insiders fretted about a cash crunch in the closing stretch of the campaign. But other officials argued that the Trump campaign would continue to raise heavily from small donors and that the cutbacks over the summer were shortsighted.

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