Denis Mwangi

Kamala Harris’ 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.

<h4>Record-Breaking Fundraising Efforts</h4>

Harris’ 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.

When combined with affiliated committees, Harris’ fundraising total reached $1.2 billion through the Harris Victory Fund.

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 Trump’s $16.2 million.

Harris also set a record for single-day fundraising by collecting $81 million within 24 hours of announcing her candidacy, surpassing Trump’s $52.8 million haul following his conviction earlier that year.

Support from large donors was a defining feature of Harris’ fundraising success.

She was backed by 76 billionaires, including prominent figures like Netflix co-founder Reed Hastings and <a data-link-role-code="open_new_tab" href="https://www.pulselive.co.ke/news/world/melinda-gates-leaves-bill-and-melinda-gates-foundation-in-dollar125-billion-agreement/fm946x5">philanthropist Melinda French Gates.</a>

In contrast, Trump garnered support from approximately 50 billionaires, including Elon Musk and Timothy Mellon.

<h4>Significant Spending Raises Questions</h4>

Despite Harris’ extraordinary fundraising efforts, her campaign reported cumulative spending of $880.2 million, far outstripping Trump’s $354.9 million.

In early October alone, the Harris campaign spent $165.9 million compared to Trump’s $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.

READ: <a href="https://www.pulselive.co.ke/news/world/donald-trump-appoints-elon-musk-to-head-newly-created-department-dubbed-doge/nmd6vyf">Trump appoints Elon Musk as head of new DOGE department</a>

Kamala Harris announced her campaign for president on July 21.

The announcement was made after sitting President Joe Biden said he would be ending his campaign for reelection against former President Donald Trump. After dropping out of the race, Biden put his support behind Harris as the new nominee.

A six-figure investment went toward building a set for Harris’ appearance on the “Call Her Daddy” podcast instead of travelling to the set.

<h4>Campaign Debt and Fallout</h4>

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 “panic spending” that lacked strategic foresight.

READ: <a href="https://www.pulselive.co.ke/news/world/greatest-white-house-comebacks-before-donald-trump-there-was-grover-cleveland/k8lb531">Only 2 U.S. presidents have returned to White House after 1st term ejection</a>

The campaign’s financial struggles have led to significant backlash from donors, vendors, and staff.

Lindy Li, a member of the Democratic National Committee’s finance committee, expressed frustration, saying she and others were misled about Harris’ chances of victory.

Vendors and staffers have voiced concerns over delayed payments, adding to the campaign’s woes.

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.

<h4>Criticism and Comparisons</h4>

<a data-link-role-code="open_new_tab" href="https://www.pulselive.co.ke/news/local/kenyan-politicians-world-leaders-react-to-donald-trumps-win-in-us-presidential/v9j8369">Donald Trump, who secured victory with 312 Electoral College votes</a>, winning all seven battleground states, mocked the Harris campaign’s financial woes on his social media platform, Truth Social.

He suggested Republicans might step in to help cover the Democrats’ debt, further stoking tensions between the parties.

Within the Democratic Party, Harris’ debt is being viewed as an egregious misstep.

A Democratic source called the situation a result of “remarkable incompetence,” contrasting it with John Kerry’s 2004 campaign, which ended with a $14 million surplus.

As the Democratic Party assesses the 2024 election cycle, Harris’ campaign serves as a cautionary tale of how financial resources alone cannot guarantee electoral success without a cohesive strategy and prudent spending.

As of November 2024, the Harris campaign was reportedly $20 million in debt

Vice President Kamala Harris delivers a concession speech for the 2024 presidential election on the campus of Howard University in Washington, Wednesday, Nov. 6, 2024.AP Photo/J. Scott Applewhite

How Kamala raised $1 billion  and still lost to Trump who raised $388 million

Donald Trump's victory in the 2024 presidential election has drawn comparisons to a unique historical precedent set by Grover Cleveland, the only other U.S. president to serve two non-consecutive terms.

As <a data-link-role-code="open_new_tab" href="https://www.pulselive.co.ke/news/local/trump-takes-early-lead-over-kamala-in-us-presidential-race/8dh4rt1">Trump prepares to return to the White House</a> after a four-year hiatus, let's explore the remarkable story of Grover Cleveland and his political comeback.

Grover Cleveland, born in 1837 in New Jersey, emerged as a prominent political figure in the late 19th century.

A lawyer by profession, Cleveland's political career began when he was elected Mayor of Buffalo in 1881 and later Governor of New York.

His reputation as a reformer and his commitment to tackling corruption propelled him onto the national stage.

Former President Grover Cleveland; Charles S. Fairchild, Secretary of the Treasury; William C. Whitney, Secretary of the Navy; Augustus H. Garland, Attorney General; Thomas F. Bayard, Secretary of State; William C. Endicott, Secretary of War; William F. Vilas, Secretary of the Interior; and Donald M Dickinson, Postmaster General. (Photo by C.M. Bell/Library of Congress/Corbis/VCG via Getty Images)

President Grover Cleveland; Charles S. Fairchild, Secretary of the Treasury; William C. Whitney, Secretary of the Navy; Augustus H. Garland, Attorney General; Thomas F. Bayard, Secretary of State; William C. Endicott, Secretary of War; William F. Vilas, Secretary of the Interior; and Donald M Dickinson, Postmaster General. (Photo by C.M. Bell/Library of Congress/Corbis/VCG via Getty Images)

<h3>First Term as President (1885-1889)</h3>

In 1884, Cleveland won the presidency as the Democratic nominee, becoming the first Democrat elected after the Civil War.

He entered the White House as a bachelor and initially struggled to adapt to the opulence and formalities of presidential life.

He humorously expressed his discomfort, preferring simpler meals over the formal elite cuisine served in the White House.

In 1886, Cleveland married Frances Folsom, a 21-year-old he had known for much of her life.

Their marriage, held in the White House, made Cleveland the only sitting President to wed in the Executive Mansion.

An illustration of former U.S. President Grover Cleveland and Frances Folsom's wedding in 1886

During his first term, Cleveland focused on several key issues:

Throughout his presidency, Cleveland championed policies against special favors to economic interests.

He vetoed numerous bills that he believed would unfairly benefit select groups,&nbsp;including farmers, veterans and many more.

Cleveland argued that such federal aid would foster a dependency on government, weakening the self-reliance he saw as vital to American character.

He successfully pressured the railroads to return 81 million acres of land that hadn’t been developed as intended.

In 1887, Cleveland made a controversial appeal to Congress to reduce high protective tariffs, arguing they favored certain businesses over the interests of ordinary Americans.

READ: <a href="https://www.pulselive.co.ke/news/world/list-of-americas-one-term-presidents-and-why-they-were-not-re-elected/3syqd97">List of America's one-term presidents &amp; why they were not re-elected</a>

Although warned that this stance might hurt his chances for re-election, Cleveland remained steadfast, stating, “What is the use of being elected or re-elected unless you stand for something?”

He ultimately lost the 1888 election to Benjamin Harrison, despite winning the popular vote, because he fell short in the electoral vote count.

Despite winning the popular vote in 1888 with 5.5 million votes vs 5.4 million, Cleveland lost the Electoral College to Republican Benjamin Harrison with 233 to 168 votes.

This defeat, however, did not mark the end of Cleveland's political career.

<h3>The Comeback &amp; Second Term (1893-1897)</h3>

Cleveland's supporters kept his name in the public eye during his time out of office, much like Trump's allies have done in recent years.&nbsp;

In 1892, Cleveland won both the popular and Electoral vote, reclaiming the presidency and becoming the 24th President of the United States

His second term, however, was marked by a <a data-link-role-code="open_new_tab" href="https://www.pulselive.co.ke/bi/finance/congress-response-to-the-2008-financial-crisis-sparked-a-decade-of-inequality-and/h7cjkxw">severe economic depression</a>.

Rather than addressing issues such as business failures, mortgage foreclosures, and unemployment directly, he concentrated on securing the Treasury’s gold reserve.

He repealed the Sherman Silver Purchase Act, which had inflated the currency, and collaborated with Wall Street to stabilise the economy.

READ: <a href="https://www.pulselive.co.ke/news/local/food-and-other-expenses-us-presidents-pay-from-their-pockets-what-kenya-can-learn/zrnjpmt">Food &amp; other expenses U.S. presidents pay from their pockets - What Kenya can learn</a>

Cleveland faced intense backlash for his actions during the 1894 Pullman strike in Chicago.

When the strike disrupted mail delivery and violated a federal injunction, Cleveland dispatched federal troops to enforce the order.

He declared that even if it required “the entire army and navy of the United States to deliver a post card in Chicago,” he would see it done.

This firm stance against the strikers was divisive, gaining praise from those who valued law and order but criticism from labour sympathisers.

Cleveland’s legacy also includes his assertive foreign policy, particularly in his dealings with Great Britain.

In a border dispute between British Guiana (now Guyana) and Venezuela, Cleveland demanded arbitration, asserting U.S. interests in the matter.

His assertiveness in foreign policy, especially during the depression, was a source of pride for many Americans, but his domestic policies proved increasingly unpopular.

He was also offered the position of postmaster general by President Grover Cleveland, but he declined.

Instead, he became president of the Educational Alliance and was also a member of the New York and New Jersey Bridge Commission.

His party, alienated by his stance on the depression and economic policies, chose populist William Jennings Bryan as their candidate in the 1896 election.

After his presidency, Cleveland retired to Princeton, New Jersey, where he lived quietly until his death in 1908.

While the circumstances of their comebacks differ, both Cleveland and Trump maintained strong bases of support during their time out of office.&nbsp;

Cleveland's ability to stay relevant in the public eye and his party's continued faith in his leadership mirror some aspects of Trump's post-2020 political strategy

Donald Trump, Grover Cleveland: The only U.S. presidents to return to White House after losing

A collage of Grover Cleveland and Donald Trump

Only 2 U.S. presidents have returned to White House after 1st term ejection

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