Donald Trump’s presidency may have seen a good economy for most people, but his candidacy has the GOP in a financial sinkhole.
The Republican National Committee’s 2023 fundraising numbers were its worst since 2013 and its worst adjusting for inflation since 1993. As it turns out, Trump-backed RNC Chairwoman Ronna McDaniel is just as bad at fundraising as she is at winning elections. Meanwhile, in December, the Democratic National Committee reported sitting on the most money it has ever had going into an election year, doubling the RNC’s reported numbers in September and nearly doubling them again in October.
The Republican National Committee’s year-end filing reveals it had its worst fundraising year since 2013 in absolute dollars and its worst since 1993 in inflation-adjusted figures.
It raised $87.2M, spent $93.5M, and had just $8M on hand and $1.8m in debt. pic.twitter.com/QByea9v5d5
— Rob Pyers (@rpyers) February 1, 2024
Meanwhile, Trump’s political machine spent more money in 2023 than it took in. Trump’s Save America PAC spent $46 million on legal fees last year. Make America Great Again PAC and a third group, Make America Great Again Inc., have both also directly and indirectly paid for legal fees and consulting.
In other words, Trump and the RNC are losing the money battle while Trump’s mere presence as the presumptive nominee is already making President Joe Biden more popular, all while a ticking time bomb of a legal situation threatens to torpedo Trump’s polling numbers. Are we seeing the problem here?
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This is why you don’t run retread losers in important elections, especially when those retread losers are electorally toxic, prone to legal trouble, and take away the biggest electoral advantage you have (Biden’s age and incoherence) in the process. Republicans will go into the 2024 elections with a loser at the top of the ticket. Somehow, they are in a financial hole to the Democratic Party and all of its fantasies of court packing, open borders and amnesty, and every other terrible Democratic idea that the GOP should be busy fighting against.
This didn’t need to be the path forward. In fact, it still isn’t necessary, but GOP voters seem content to run the party off the cliff and pull the country down along with it. This ends in no way other than with miserable losses up and down the ticket to an increasingly authoritarian Democratic Party, and the GOP will have no one to blame but itself.