Kamala Harris’s campaign ended with a debt of USD 20 million, despite raising over USD 1 billion, leaving USD 118 million in the campaign bank by October 16. US President-elect Donald Trump on Saturday encouraged his supporters to contribute to the Democrats to help them recover from the “financial strain” following the general elections. Taking to X, Trump said that the Democrats, despite raising a record amount of money during the 2020 Presidential Election, did not have much left.
“I am very surprised that the Democrats, who fought a hard and valiant fight in the 2020 Presidential Election, raising a record amount of money, didn’t have lots of $’s left over. Now they are being squeezed by vendors and others. Whatever we can do to help them during this difficult period, I would strongly recommend we, as a Party and for the sake of desperately needed UNITY, do. We have a lot of money left over in that our biggest asset in the campaign was ‘Earned Media,’ and that doesn’t cost very much. MAKE AMERICA GREAT AGAIN!” he said, after it was reported that the Harris Campaign is USD 20 million in debt.
Kamala Harris’s campaign ended with at least USD 20 million in debt
Kamala Harris’s campaign concluded with a reported debt of at least USD 20 million, according to two sources familiar with the matter, cited by Politico’s California bureau chief, Christopher Cadelago. Despite raising over USD 1 billion, Harris ended with USD 118 million in her campaign bank as of October 16. Harris, the Democratic Party’s presidential nominee for the November 5 elections, lost to Donald Trump but set fundraising records. Her campaign, along with its Super PACs, raised USD 2.3 billion and spent USD 1.9 billion, while Trump’s campaign raised over USD 1.8 billion and spent USD 1.6 billion.
Ajay Jain Bhutoria, a prominent fundraiser for the Harris campaign, explained that despite raising and spending over a billion dollars, Harris’ bid failed to resonate with key voter groups. He pointed out that the campaign’s reliance on celebrity endorsements, star-studded events, and elite political figures couldn’t bridge the growing gap between the party and middle-class Americans, who were struggling with rising costs for essentials like groceries, rent, and healthcare.
While the Democrats garnered significant support from wealthy donors and Hollywood, they lost crucial backing from essential voter groups. Bhutoria also highlighted the shift among ethnic communities, noting that Indian Americans, Asian Americans, and Muslim and Arab Americans, especially in battleground states like Pennsylvania and Michigan, became increasingly disillusioned with the party’s direction.
Indian American communities, once strong Democratic supporters, voiced concerns about issues like immigration reform, job opportunities, the US-India relationship, attacks on Hindu temples, and rising living costs. In Michigan, where there is a significant Arab American and Muslim population, many felt their concerns were neglected in favour of broader political debates, prompting a shift towards Trump, who they felt addressed their issues more effectively.
Bhutoria argued that the 2024 election exposed the disconnect between elite fundraising and Americans’ everyday concerns, particularly on issues like the economy, immigration, rising crime, and foreign wars. He stressed that flashy campaigns and big-money donors couldn’t replace addressing the needs of working-class families.
Indian American Congresswoman Pramila Jayapal reflected on the outcome, saying that the Democrats “failed to communicate clearly” to voters how the party would materially improve their lives. She called for reflection and learning from the results, acknowledging that Democrats need to better articulate their impact on voters’ daily realities.
