Bernie Sanders has already spent up his February haul, has a few million dollars left at most [View all]

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Bernie Sanders has already spent up his February haul, has a few million dollars left at most

http://www.dailynewsbin.com/opinion/despite-claims-on-cable-news-bernie-sanders/23987/
By Bill Palmer | March 2, 2016


Over the past week the prevailing narrative on cable news has shifted from “Bernie Sanders is winning” to “Bernie Sanders is still in the thick of it” to “Bernie Sanders is losing but he’s still in good shape because he has $42 million in the bank.” None of these claims are true. After the Super Tuesday blowout, most of Bernie’s supporters can now see that he was never going to compete for the popular vote in the manner cable news had claimed. And now his financial situation is being grossly misrepresented by the media as well. At this point he’s nearly out of money.

It is factually correct that Bernie Sanders raised around $42 million during the month of February. But that was when most people were under the impression that he was a contender or even a frontrunner, because that’s what cable news had spent the past six months inaccurately telling them. Democrats supported Bernie, and donated to him, because they thought he could win. What the pundits on television keep failing to mention is that he’s already spent most of his February money on his failed Super Tuesday gambit. And now that the nation can see he’s not competitive, there will be far less money coming in.

Here’s the real math on how campaigns work: of the $96 million total sum that the FEC says Bernie Sanders had raised prior to February, he had already spent $82 million of it, leaving him just $14 million cash on hand on February 1st. His pattern so far has been to spend most of his money as it comes in, which all campaigns must do when they’re behind and trying to catch up.

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The New York times asked various candidates today how much cash on hand they have left, a number they can’t misrepresent because it all comes out in FEC filings before much longer. The Hillary Clinton campaign said it still has $31 million in the bank. The Sanders campaign refused to answer the question.......................