2020 US Presidential election to be most expensive in history (by a lot)

Democratic presidential nominee Joe Biden will be the first candidate in history to raise $1 billion from donors.

Reuters
Democrats are also raising more in large part because women are giving more.
NEW YORK: The 2020 Presidential election is turning out to be the most expensive election in history and twice as expensive as the previous presidential election cycle, with the total cost of the election expected to reach an unprecedented $14 billion, a research group said.

The Center for Responsive Politics said that an “extraordinary influx” of political donations in the final months — driven by a Supreme Court battle and closely watched races for the White House and Senate — pushed total spending in the election past the previously estimated 11 billion dollars figure.

The Center said that the 2020 election will cost $14 billion, shattering spending records.


Democratic presidential nominee Joe Biden will be the first candidate in history to raise $1 billion from donors.

His campaign brought in a record-breaking $938 million through October 14, riding Democrats' enthusiasm to defeat Trump. President Donald Trump raised $596 million, which would be a strong fundraising effort if not for Biden's immense haul.

“Even amid a pandemic, everyone is giving more in 2020, from ordinary individuals making small donations to billionaires cutting eight-figure checks to super PACs.
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Women are smashing donation records, and Americans are increasingly donating to candidates who aren't running for office in their state,” it said in a statement.

The 2020 election is more than twice as expensive as the runner up, the 2016 election.

This year's election will see more spending than the previous two presidential election cycles combined, said the Center for Responsive Politics, a nonpartisan, independent and nonprofit research group that tracks money in US politics and its effect on elections and public policy.

“Donors poured record amounts of money into the 2018 midterms, and 2020 appears to be a continuation of that trend — but magnified,” said Sheila Krumholz, executive director of the Center for Responsive Politics.
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“Ten years ago, a billion-dollar presidential candidate would have been difficult to imagine. This cycle, we're likely to see two,” Krumholz said.

The group said that the massive numbers are headlined by unprecedented spending in the presidential contest, which is expected to see $6.6 billion in total spending alone, up from around $2.4 billion in the 2016 race.
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Spending by deep-pocketed national groups is also driving the total cost of election higher. In the month of October alone, outside spending by super PACs and other big-money groups totalled nearly $1.2 billion.

These groups are spending far more to boost Biden than help Trump, further aiding the Democrats cash-flush campaign.

Driven by their supporters' strong opposition to Trump, Democrats are continuing their fundraising prowess that helped them dominate the money race in the 2018 election cycle.

"Their money machine is more powerful than ever in 2020,” the Center said.

Democratic candidates and groups have spent $5.5 billion compared to Republicans' $3.8 billion, the Center said noting that Democrats have never had a financial advantage this large.

Both parties raised more than ever from small donors, but Democrats came out on top, having raised nearly $1.7 billion from bite-sized donors, compared to $1 billion for Republicans.

Overall, small donors account for 22 per cent of the money raised in the 2020 cycle. These individual donors giving $200 or less only accounted for 15 per cent of money raised in the 2016 election.

The pandemic also forced candidates to forgo in-person fundraisers with wealthy donors. Campaigns have increasingly relied on virtual fundraising using texts and emails, a strategy that works better when Americans are more engaged in politics, it said.

Political groups have spent over $1 billion this year to advertise on platforms like Facebook and Google, according to OpenSecrets' online ads database.

Democrats are also raising more in large part because women are giving more.

More than 1.5 million women have donated to federal committees, accounting for 44 per cent of all donors, up from 37 per cent in 2016.

In the 2020 election, women have given $2.5 billion through mid-October, up from $1.3 billion throughout the entire 2016 election.

According to the Center's research, women are more likely to be Democratic donors.

In the 2020 election, women giving over $200 have donated nearly $1.3 billion to Democrats and roughly $570 million to Republicans.

Several industries have flipped over to Democrats' side under Trump's presidency, including the well-funded miscellaneous finance and securities and investment industries.

Real estate is one of the few major industries to stay in Republicans' corner during the Trump era, giving slightly more to GOP committees than Democrats, it said.
How the US elections will impact global leaders
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While the world will be closely watching the US election, some countries will be watching more closely than others. A number of world leaders have a personal stake in the outcome, with their fortunes depending heavily on the success - or failure - of President Donald Trump.



Perhaps none has so much riding on a Trump victory as Israel's prime minister, Benjamin Netanyahu. The Israeli leader, who had a rocky relationship with President Barack Obama, has praised Trump as 'the greatest friend' Israel ever had in the White House. Trump has delivered a series of diplomatic gifts to Netanyahu, recognizing Jerusalem as Israel's capital, withdrawing from Obama's nuclear deal with Iran and offering a Mideast plan that heavily favors Israel over the Palestinians. The White House brokered the establishment of diplomatic ties between Israel and the United Arab Emirates and Bahrain. For Netanyahu, a Biden victory would be a disaster.



Here is a look at some of the other world leaders who have a big stake in the US election:

While the world will be closely watching the US election, some countries will be watching more closely than others. A number of world leaders have a personal stake in the outcome, with their fortunes..
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The Conservative prime minister's bombastic style and populist instincts have often been compared to Trump's and the two have struck a friendly relationship. Trump has called the British leader a 'great guy.'



Trump's enthusiasm for Brexit helped Johnson talk up the prospect of securing a quick US trade deal now that Britain has left the European Union.

The Conservative prime minister's bombastic style and populist instincts have often been compared to Trump's and the two have struck a friendly relationship. Trump has called the British leader a 'gr..
Read More

For the Chinese leader, a second Trump term would bring a continuation of the bruising trade disputes, diplomatic jousting, and near-daily accusations against China on issues from human rights to the environment and the South China Sea.



Trump's onslaught has offered Xi an opportunity to portray the US as a declining democracy coping with racial unrest and a bungled response to the coronavirus.



Under Biden, the US may move closer to its allies and reengage with international organizations that might make demands of China. But Biden would bring a level of predictability and normalcy that Chinese leaders prefer and lessen the chances of outright confrontation.

For the Chinese leader, a second Trump term would bring a continuation of the bruising trade disputes, diplomatic jousting, and near-daily accusations against China on issues from human rights to the..
Read More

Prime minister Narendra Modi and Trump are known for a similar style of leadership deeply rooted in using nationalist sentiments.



Trump's victory could embolden Modi to continue his criticized policies with little scrutiny from Washington.



In contrast, Biden and running mate Kamala Harris, whose mother was Indian, have been vocal about India's controversial decision to revoke the Muslim-majority region of Kashmir's semi-autonomy, the state of religious freedom in the country, press freedom violations and a new citizenship law seen as discriminatory toward Muslims.

Prime minister Narendra Modi and Trump are known for a similar style of leadership deeply rooted in using nationalist sentiments.Trump's victory could embolden Modi to continue his criticized policie..
Read More

Saudi Arabia's King Salman and Crown Prince Mohammed bin Zayed, the de facto ruler of the United Arab Emirates, were no big fans of the Obama administration. Their countries welcomed Trump's withdrawal from the Iran nuclear deal and the imposing of sanctions that have sent Iran's economy into a freefall.



Trump also stood by Saudi Crown Prince Mohammed bin Salman in the face of sharp criticism after the killing of Washington Post writer Jamal Khashoggi by Saudi agents in late 2018. Trump vetoed a Senate resolution that would have ended US support for the Saudi and UAE-led war in Yemen, which has created the world's most devastating humanitarian crisis.



The Mideast monarchs fear Biden could be an extension of the Obama era, with renewed engagement with Iran and greater concern for human rights.

Saudi Arabia's King Salman and Crown Prince Mohammed bin Zayed, the de facto ruler of the United Arab Emirates, were no big fans of the Obama administration. Their countries welcomed Trump's withdraw..
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Iran's supreme leader has suffered the equivalent of diplomatic whiplash between the Obama and Trump administrations.



People crowded the streets to praise the 2015 nuclear deal, hoping for normalized ties with the West. Trump's unilateral withdrawal from the deal subsequently led to Iran resuming nuclear activities. Tensions ratcheted up in a series of incidents culminating in with an Iranian missile attack on US forces in Iraq after an American drone strike killed a top Iranian general.



Biden has said that he's willing to sit back down with Iran if it honors the limits of the nuclear deal. Another Trump term could see tensions again return to a boil.

Iran's supreme leader has suffered the equivalent of diplomatic whiplash between the Obama and Trump administrations.People crowded the streets to praise the 2015 nuclear deal, hoping for normalized ..
Read More

Regarded by some as Asia's Trump for his unorthodox political style and brash language, Duterte has nurtured friendly ties with the US leader and even called on American Filipinos to vote for Trump.



Trump, in contrast to Obama, has not publicly raised alarm over the Philippines' deadly anti-drug crackdown. The tough-talking Duterte once said in a speech that Obama could ``go to hell.''



A Biden victory could potentially bring a more adversarial relationship.

Regarded by some as Asia's Trump for his unorthodox political style and brash language, Duterte has nurtured friendly ties with the US leader and even called on American Filipinos to vote for Trump.T..
Read More

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