So Donald Trump the billionaire’s billionaire doesn’t really have a well of endless hundred-dollar bills, after all. His eternal message has been that he can finance his own campaign, that he doesn’t have to rely on super PACs and special interests. But it appears that he was either mistaken or lying.
This week a co-chairman of a super PAC that is backing Trump, Ed Rollins, admitted that Trump does not have the money in the amounts necessary to fund his own campaign, according to Buzzfeed.
This week on Kilmeade and Friends, Rollins responded to a question about how his group planned to manage:
“The Trump campaign at this point is playing catch up.
Both his campaign — the dilemma was you talk about self-funding his campaign. Now he certainly doesn’t have the resources or, says he doesn’t have the resources to self-fund the rest of the way. So, it’s a scramble to get the money and get resources together.
We’ll get — it’s just right at this particular time we’re not prepared to counterattack.”
Since Trump has been the decision-maker for his organization and his campaign is very nontraditional, one of his problems is how to generate and support a presidential election campaign.
According to OpenSecrets.org, the Center for Responsive Politics, super PACs are relatively new committees that came into existence as a result of the federal court decision regarding the SpeechNow.org v. Federal Election Commission case, in July of 2010.
These independent super PACs are able to raise unlimited amounts of money from businesses, unions, associations, and even individuals. Then they can use that money to support their candidate or against an opponent.
These new money-makers cannot donate directly to the candidate him- or herself, and they cannot involve the candidate in any way.
Any presidential campaign is a huge and complex operation. It requires a massive fundraising machine that can generate and manage the necessary funds from multiple super PACs.
The primary was a different situation, one where Trump could loan himself millions of dollars when necessary, and Trump’s marketing skills also brought in over a billion dollars in free press exposure.
Now that Trump is in the big leagues, as the presumptive Republican nominee, he will have to have a number of super PACs to support his candidacy.
Listen to this video of Ed Rollins speaking about Trumps’ finances:Click here for reuse options!
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