Home 2020 New FEC Filings Show Financial Woes For Democratic Candidates

New FEC Filings Show Financial Woes For Democratic Candidates

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Democratic presidential candidates spent more money than they raised in January, new Federal Election Commission (FEC) filings show.

Independent Vermont Bernie Sanders stood out as the leading fundraiser thanks to a high volume of small donations while billionaire Michael Bloomberg continued to spend away, the Washington Post reported. Democratic Massachusetts Senator Elizabeth Warren struggled financially early on but is showing signs of recovering, while the more moderate candidates appear to be sinking financially, Politico added. Meanwhile, President Donald Trump and his fellow Republicans are setting record fundraising numbers.

Here’s how each campaign did financially.

Bernie Sanders

(Mario Tama/Getty Images)

Democratic presidential candidate Sen. Bernie Sanders. (Mario Tama/Getty Images)

Sanders, who is the current frontrunner in the race, had the most funds of any non-billionaire candidate going into February with nearly $17 million, according to The Washington Post.

Sanders spent $26 million and raised $25 million in January, with a majority of donations being less than $200, The Post reported. The only other candidate to raise more than $10 million was Democratic Massachusetts Sen. Elizabeth Warren. (RELATED: Bernie On Bloomberg: Trump Would ‘Chew Him Up And Spit Him Out’)

Elizabeth Warren

Democratic presidential candidate Sen. Elizabeth Warren participates in the Democratic presidential primary debate in the Sullivan Arena at St. Anselm College on February 07, 2020 in Manchester, New Hampshire. Seven candidates qualified for the second Democratic presidential primary debate of 2020 which comes just days before the New Hampshire primary on Feb. 11. (Photo by Joe Raedle/Getty Images)

Democratic presidential candidate Sen. Elizabeth Warren participates in the Democratic presidential primary debate in the Sullivan Arena at St. Anselm College on February 07, 2020 in Manchester, New Hampshire. Seven candidates qualified for the second Democratic presidential primary debate of 2020 which comes just days before the New Hampshire primary on Feb. 11. (Photo by Joe Raedle/Getty Images)

Warren had a rollercoaster of a month, starting with the lowest amount of money headed into February with only $2.3 million, according to Politico. The shortage of funds led her to pull ads from Nevada and South Carolina, while also taking out a $3 million line of credit. 

Still, Warren spent the second-most amount excluding the two billionaire candidates. To help cover this, Warren turned to PACs — as Persist PAC was formed Tuesday to help aid her campaign. This is a flip from her previous opposition to taking PAC money. She told reporters that she would support efforts to weaken PACs in the future, but that in the current state of the campaign, taking money from PACs is “how it has to be.” (RELATED: Elizabeth Warren, Who Said She Wouldn’t Take ‘A Dime’ From Super PACs, Is Now Accepting Support From A Super PAC)

Warren raised more than $5 million in less than 24 hours after Wednesday’s Democratic debate in Nevada. 

The Billionaires

SALT LAKE CITY, UT - FEBRUARY 20: Democratic presidential candidate, former New York City mayor Mike Bloomberg talks to supporters at a rally on February 20, 2020 in Salt Lake City, Utah. Bloomberg is making his second visit to Utah before it votes on super Tuesday March 3rd.(Photo by George Frey/Getty Images)

SALT LAKE CITY, UT – FEBRUARY 20: Democratic presidential candidate, former New York City mayor Mike Bloomberg talks to supporters at a rally on February 20, 2020 in Salt Lake City, Utah. Bloomberg is making his second visit to Utah before it votes on super Tuesday March 3rd.(Photo by George Frey/Getty Images)

Bloomberg spent a whopping $220 million in January. Behind him was his fellow billionaire candidate Tom Steyer, who spent $53 million. All other candidates spent more than they raised, The Hill reported. (RELATED: Michael Bloomberg Booed After Refusing To Release Women From NDAs)

Bloomberg has spent $463.8 million since entering the race in November, according to the Wall Street Journal. The Hill noted that in January he spent “$7.1 million a day, $300,000 an hour or $5,000 per minute.”

The “Moderates”

Democratic presidential hopefuls (from R) Minnesota Sen. Amy Klobuchar, former Mayor of South Bend, Indiana, Pete Buttigieg, former Vice President Joe Biden and Vermont Sen. Bernie Sanders laugh during the ninth Democratic primary debate of the 2020 presidential campaign season co-hosted by NBC News, MSNBC, Noticias Telemundo and The Nevada Independent at the Paris Theater in Las Vegas, Nevada, on Feb. 19, 2020. (Photo by MARK RALSTON/AFP via Getty Images)

Democratic presidential hopefuls (from R) Minnesota Sen. Amy Klobuchar, former Mayor of South Bend, Indiana, Pete Buttigieg, and former Vice President Joe Biden laugh during the ninth Democratic primary debate of the 2020 presidential campaign season co-hosted by NBC News, MSNBC, Noticias Telemundo and The Nevada Independent at the Paris Theater in Las Vegas, Nevada, on Feb. 19, 2020. (Photo by MARK RALSTON/AFP via Getty Images)

Former Vice President Joe Biden entered February with $7.2 million, compared to former South Bend Mayor Pete Buttigieg with $6.6 million and Democratic Minnesota Sen. Amy Klobuchar with $2.9 million. (RELATED: Pro-Abortion, Pro-Gay Marriage Biden Touts His Catholic Faith In Campaign Video: ‘I Say The Rosary’)

Biden raised about $2.7 million more than Buttigieg, but Buttigieg spent over $3 million more. Klobuchar raised and spent the least amount of the three. 

President Donald J. Trump

DAYTONA BEACH, FLORIDA - FEBRUARY 16: U.S. President Donald Trump and First Lady Melania Trump talks with Richard Childress prior to the NASCAR Cup Series 62nd Annual Daytona 500 at Daytona International Speedway on February 16, 2020 in Daytona Beach, Florida. (Photo by Chris Graythen/Getty Images)

DAYTONA BEACH, FLORIDA – FEBRUARY 16: U.S. President Donald Trump and First Lady Melania Trump talks with Richard Childress prior to the NASCAR Cup Series 62nd Annual Daytona 500 at Daytona International Speedway on February 16, 2020 in Daytona Beach, Florida. (Photo by Chris Graythen/Getty Images)

The Trump campaign, the Republican National Committee, and the two GOP affiliated fundraising committees raised more than $60 million in January, according to The Washington Post. This puts the re-election campaign at more than $200 million in cash going into February.

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