The Corner

Politics & Policy

Donald Trump’s Campaign is Broke

That’s the headline from the third quarter campaign filings, summarized here. R. J. Lehmann of R Street writes:

The Trump campaign ended the third quarter with $254,772.88 of cash on-hand, which is about 48 percent less than the $487,736.16 with which it started the quarter. Trump is therefore spending money at a faster clip than he’s raising it. Moreover, the campaign also has incurred more than $1.8 million of debts and obligations – no doubt, many of them to Trump himself (he’s billed the campaign $700,000 for the use of his jet). That leaves the campaign with negative cash, which should be a familiar position for the real estate magnate whose companies have declared bankruptcy four times.

The seven candidates with the most cash on hand are, Hillary Clinton, Bernie Sanders, Ted Cruz, Ben Carson, Marco Rubio, Jeb Bush, and Carly Fiorina. 

While it isn’t surprising that Trump isn’t on that list – he has declined to raise money – it is striking that the Trump campaign is in debt. Doesn’t that tarnish the “super billionaire” brand and the big boast about not being beholden to anyone? Why is the campaign in debt? Can’t he write a check?

Which raises another question that has been lingering: Can Trump fund a presidential campaign out of his own funds? As Lehmann notes, he hasn’t had to spend too much money so far because he’s getting so much free media. Some have questioned whether he’s really as rich as he claims. But let’s say he is. Does he have liquid assets, or is it mostly tied up in real estate? If he’s forced to sell something quickly to get ready cash, he might have to do so at fire sale prices. “The Art of the Deal” indeed.

Most Popular

Immigration

Angela Rye Knows You’re Racist

The political philosopher Michael Oakeshott said that the “rationalist” is hopelessly lost in ideology, captivated by the world of self-contained coherence he has woven from strands of human experience. He concocts a narrative about narratives, a story about stories, and adheres to the “large outline which ... Read More
Immigration

What the Viral Border-Patrol Video Leaves Out

In an attempt to justify Alexandria Ocasio-Cortez’s absurd comparison of American detention facilities to Holocaust-era concentration camps, many figures within the media have shared a viral video clip of a legal hearing in which a Department of Justice attorney debates a panel of judges as to what constitutes ... Read More
Film & TV

Murder Mystery: An Old Comedy Genre Gets Polished Up

I  like Adam Sandler, and yet you may share the sense of trepidation I get when I see that another of his movies is out. He made some very funny manboy comedies (Billy Madison, Happy Gilmore, The Waterboy) followed by some not-so-funny manboy comedies, and when he went dark, in Reign over Me and Funny People, ... Read More
Politics & Policy

Making Sense of the Iran Chaos

One would prefer that correct decisions be made according to careful, deliberate plan. But a correct decision made impulsively, through a troubling process, is still nonetheless correct, and so it is with Donald Trump’s decision to refrain from military action against Iran. The proposed strike would represent a ... Read More