Former Vice President Mike Pence’s 2024 presidential campaign will report $620,000 in debt for the third quarter fundraising period.
🚨BREAKING REPORT: Mike Pence Campaign Is In Danger Of Going Under Due To Mounting Debt….
— Ian Jaeger (@IanJaeger29) October 16, 2023
Pence currently has $1.2 million in cash on hand. The former vice president has used $150,000 of his personal funds for his campaign, according to Newsmax. To date, Pence’s campaign has raised $3.3 million, which is a far smaller amount of money raised compared to other GOP presidential candidates.
Of the $1.2 million cash on hand, $200,000 can only be used for the general election and, given Pence’s unlikelihood of making it that far, it doesn’t seem like the former vice president will ever be able to use that amount of money.
One of Pence’s allies told Politico that the former vice president plans to remain in the GOP race for president amid a “brutal” fundraising quarter.
“That debt number is gonna be impossible to pay back,” the Pence ally said. “When he drops out he’s going to have to do debt-retirement fundraisers.”
A Republican operative based in Iowa echoed similar comments, telling Politico that he’d be surprised if Pence makes it to Iowa’s primary caucus.
“Sounds like a medium-sized Senate race,” the operative told the outlet.
Pence’s campaign is almost at the bottom of the fundraising category among fellow GOP presidential contenders.
Former U.N. Ambassador Nikki Haley’s campaign has raised more than $11 million in the third quarter, with $9.1 million set aside for the primary. Florida Gov. Ron DeSantis’ (R) campaign has garnered $15 million in the third quarter, but just $5 million can be used for the primaries.
Far outranking all GOP candidates in fundraising is former President Donald Trump, whose campaign has raked in $45.5 million in the third quarter, with $36 million to spend in primary season.
The figures stated were obtained through campaign announcements and have yet to be independently verified by the Federal Election Commission (FEC).
Trump currently leads all candidates in the GOP primary. Poll after poll, the former president’s lead widens among his fellow Republican contenders despite being repeatedly indicted by President Joe Biden’s weaponized Department of Justice (DOJ).
A Morning Consult poll has Trump leading the crowded GOP field with 61% support, with DeSantis as the runner-up obtaining just 12% support.