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Kamala Harrisâ 2024 presidential campaign, which initially showed immense promise through historic fundraising achievements, is now grappling with financial difficulties.
The campaign has reportedly ended $20 million in debt, raising questions about financial mismanagement and strategic overspending.
Record-Breaking Fundraising Efforts
Harrisâ campaign raised a staggering $997.2 million from January 2023 to October 2024, significantly outpacing her Republican opponent, Donald Trump, who raised $388 million over the same period.
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When combined with affiliated committees, Harrisâ fundraising total reached $1.2 billion through the Harris Victory Fund.
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Vice President Kamala Harris lost out to Donald Trump.Tom Williams/Getty Images
The campaign experienced impressive surges, particularly in October 2024, when Harris raised $97.2 million in just two weeks, compared to Trumpâs $16.2 million.
Harris also set a record for single-day fundraising by collecting $81 million within 24 hours of announcing her candidacy, surpassing Trumpâs $52.8 million haul following his conviction earlier that year.
Support from large donors was a defining feature of Harrisâ fundraising success.
She was backed by 76 billionaires, including prominent figures like Netflix co-founder Reed Hastings and philanthropist Melinda French Gates.
In contrast, Trump garnered support from approximately 50 billionaires, including Elon Musk and Timothy Mellon.
Significant Spending Raises Questions
Despite Harrisâ extraordinary fundraising efforts, her campaign reported cumulative spending of $880.2 million, far outstripping Trumpâs $354.9 million.
In early October alone, the Harris campaign spent $165.9 million compared to Trumpâs $99.7 million.
Harris' high-profile expenses included $15 million for event production, which featured celebrity performances by Katy Perry, Lady Gaga, and Ricky Martin at election rallies.
Additionally, the campaign spent $1 million for a town hall event with Oprah Winfrey, hosted by Harpo Productions.
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Kamala Harris announced her campaign for president on July 21.
A six-figure investment went toward building a set for Harrisâ appearance on the âCall Her Daddyâ podcast instead of travelling to the set.
Campaign Debt and Fallout
As of November 2024, the Harris campaign was $20 million in debt despite reporting $118 million in cash on hand as of October 16.
Much of the spending reportedly went toward digital media, advertising, polling, and interstate travel in the final months.
Critics have pointed to these expenses as examples of âpanic spendingâ that lacked strategic foresight.
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The campaignâs financial struggles have led to significant backlash from donors, vendors, and staff.
Lindy Li, a member of the Democratic National Committeeâs finance committee, expressed frustration, saying she and others were misled about Harrisâ chances of victory.
Vendors and staffers have voiced concerns over delayed payments, adding to the campaignâs woes.
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Vice President Kamala Harris during an interview with the National Association of Black Journalists expressed confidence in the Secret Service.JIM WATSON/AFP via Getty Images
In response to the debt, the Harris campaign has continued fundraising efforts even after Election Day.
A portion of the funds raised is being redirected toward a potential recount fund, with the remaining allocated to the Democratic National Committee.
However, the fine print on donation links has drawn scrutiny from some contributors.
Criticism and Comparisons
Donald Trump, who secured victory with 312 Electoral College votes, winning all seven battleground states, mocked the Harris campaignâs financial woes on his social media platform, Truth Social.
He suggested Republicans might step in to help cover the Democratsâ debt, further stoking tensions between the parties.
Within the Democratic Party, Harrisâ debt is being viewed as an egregious misstep.
A Democratic source called the situation a result of âremarkable incompetence,â contrasting it with John Kerryâs 2004 campaign, which ended with a $14 million surplus.
As the Democratic Party assesses the 2024 election cycle, Harrisâ campaign serves as a cautionary tale of how financial resources alone cannot guarantee electoral success without a cohesive strategy and prudent spending.