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BERNIE SANDERS’ CAMPAIGN had less than $6 million (€5.34 million) at the start of May, a critical cash shortage as he makes an admittedly tough final play to wrest the Democratic presidential nomination from Hillary Clinton.
Sanders’ rival had five times as much money, according to new Federal Election Commission filings, beginning the month with $30 million (€26.7 million) in the bank.
The two were on roughly equal fundraising footing last month, with Clinton and Sanders each raising more than $25 million (€22.2 million). But the Vermont senator spent almost $39 million (€34.75 million) to Clinton’s $24 million (€21.38 million), the reports showed.
This year, Sanders has averaged more than $40 million in spending per month, underlining how quickly he could blow through the cash he had on hand at the beginning of May.
Since he started his presidential bid, Sanders has spent nearly $207 million (€184 million), about $25 million (€22.2 million) more than Clinton’s $182 million (€162 million) in expenditures. For her part, Clinton has averaged $26 million in spending per month since January.
Sanders’ heavy campaign spending wasn’t a problem when his online supporters were minting him money. But now that his fundraising has dropped, his high burn rate could hurt his chance to continue competing.
Even as he racked up primary victories last month and sharpened his attacks against the former secretary of state, online donors started holding back. Sanders raised considerably less in April than his record-setting $46 million in March or $43.5 million (€38.75) in February.
Trumped
On the other side, Donald Trump poured more than $7.5 million (€6.6 million) of his own money into his presidential campaign in April, bringing his total personal investment to more than $43 million (€38.5 million) since he declared his candidacy.
The billionaire businessman, who swatted away 16 Republican rivals and relied heavily on wall-to-wall media coverage of his outsized personality and often inflammatory remarks, reported spending about $56 million (€49.9 million) during the primary.
Almost all of Trump’s personal investment has come in the form of loans. That leaves open the possibility that he can repay himself now that he’s aggressively seeking donations. A new fundraising agreement he struck with the Republican National Committee and 11 state parties explicitly seeks contributions for his primary campaign.
Yet Trump said in a statement this week that he has “absolutely no intention” of paying himself back.
After the GOP convention in late July, Trump will officially become the nominee and be restricted to spending money that’s earmarked for the general election.
His likely rival, Democrat Hillary Clinton, has a head start on building a war chest for the November election. She partnered with Democratic parties months ago and has been raising millions of dollars for them. In April alone, she collected almost $800,000 in campaign money for the general election.
My first time getting it from tomorrow and I’m so thankful it’s available, the workplace were originally going to pay us only 50% of our contracted hours which was just not something some staff on 8 hour contracts could live on, especially when they work a lot more than 8 hours a week. Retail, even as management, is precarious!
@Whatever: I was on it from the middle of March last year until the end of December as my job is still closed but thankfully got a college placement co-op position for the next 8 months so I am off it now. Was very grateful to receive the PUP, glad it’s there for ye now being laid off again
@Whatever: As self employed I applied last year and was told NO. Now I eat beans, no heat, food or help. No one cares.
@Paul Somers: why was that? I know a few self employed people that got it. My brother and husband included
@Paul Somers: had you a tax return completed and paid for the previous financial year? If you completed a return in October/November 2019 for the 2018 tax year you should have got it. If you only started your business in 2019 you should qualify once you submitted a return for that year.
@Laura Clayton: I honestly don’t know, I pay tax and the vat. Got scared, and now sitting in the house with thermals and a wooly hat. I would love a cuppa
@Derdaly: yes I did
@Paul Somers: you should be entitled to it keep contacting your local social welfare office they will get it sorted for you. I was waiting 5 weeks for mine to come through but I got it eventually with persistence
@Brian Byrne: gave up but thank you
@Paul Somers: honestly don’t give up Paul keep at them daily until they sort it for you. I sent in the postal application and applied online through the social services portal. It was all sorted eventually.
@Paul Somers: That might be why you never got it. If you want it it’s there for you as long as you provide what’s required of you.
@Seán O’Loughlin: it’s embarrassing
@Paul Somers: You were told lies. I’m self employed and on the full PUP.
@Paul Somers: paul I’m self employed and I’m on it since March last year. I had to apply 3 times because it never went through online. The last time I posted it in and was eventually back dated to the 1st time I applied. You are 100% entitled to it. Hope thing get better for you soon.
Heard of some people being denied loans because they claimed pup. Thought it wasn’t meant to affect your credit rating?
@Brian Dunne: yeah that is true. Iv heard of people having their mortgage application rejected because one of the joint applicants were on PUP. Even with employer letters saying their job is secure and available for the person to return to. I don’t know if it effects your actual credit rating, but banks will not lend to people on social welfare and PUP is social welfare no matter what way you break it down. Its a joke
@Eoin Jackson: and before people start blasting the banks as the big bad wolves for that strategy, that is mandated by the CBI, which in other words, is basically mandated by the government.
@Eoin Jackson: yup – that was the case for me and my husband last April. We were both on Pup and both had letters confirming future employment and BoI pulled our approval. They’d issued it in February and we were sale agreed on a house and everything. That all fell through.
Ended up going to the credit union. Their deal isn’t great and you’ve to have a 30% down payment (Christ) but they signed off on it for us while both on Pup. In our own house now since November and I’m still on pup. Husband back at work but laid off on the wage subsidy scheme. We are well able to afford the mortgage repayments but there’s not a chance we could have afforded to rent a place
@Brian Dunne: it affects affordability not credit rating, so no surprises that people were refused a loan due to a lower income
Cash nixer bonanza
@MickN: Mor on. It’s keeping the wolf from the door for so many people.
@Seán Óg: Aye right…
@Mike: Dead on
Where do I sign up?
Went on the PUP in November because of redundancy.. started a new job today. Happy days!
Banks are very hard to deal with this lockdown. I tried to get a 2 month freeze on the mortgage as it’s going to be 2 months until I’m back up and running. Spent an hour filling in the online form. Looking now for last years earnings. Accountant letters etc. etc. What’s last years accounts got to do with being out of work this year due to a pandemic. I think the government should be doing more with the banks like last lockdown.
Serious question: Do people living in Northern Ireland, if working in the south, get paid PUP from the Irish Government?
@David Connell: only available to people with pps /prsi no. You have to supply details in order to qualify
And the reports of the country bouncing back later this year and the housing market being strong.
What a load of bs
@billy bound: I’m in construction and I’m up the walls. That includes every construction friend I know. Covid has made things busier not quieter.
If you get OAP and out of work you don’t qualify, even if you pay taxes
@Margaret Deacon: why should you get pup if you weren’t working in the first place.
When do they transfer to jobseekers (aka regular dole)?
And still you’ll get another tax demand at the end of this year like most people did in the last 2 weeks
when the chickens come home to roost this place will be worse than 2008.
If you are getting OAP but still working before Covid hit and were paid on PAYE basis, as far as I know, you are entitled to PUP. However if OAP and self employed and NOT on PAYE system, (just taxed at end of year when returns are made)then no PUP. Anyway this is what happened 2 of my friends who were in each situation as described
have your say