The Note: Money Matters

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June 21, 2016

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Money Matters

Clinton Clobbers Trump in Fundraising

Donald Trump was considerably out-fundraised by opponent Hillary Clinton last month as he kicked off his general election campaign, ABC's ALANA ABRAMSON and CHRIS GOOD note. Financial disclosure documents show Hillary Clinton raised $19.7 million in May, although her campaign said she had raised millions more through a joint effort with the Democratic National Committee -- a separate venture that was not required to disclose its May totals by the same deadline. Clinton has $42 million in cash on hand. Trump's fundraising efforts brought in $3.1 million in May, according to new financial disclosure reports, while the candidate loaned his own campaign $2.2 million. Trump has approximately $1.3 million in cash on hand. The Republican National Committee took in about $13 million last month, on par with what it raised in April, before the Republican party had a presumptive nominee. http://abcn.ws/28Ptps5

Not-So-Fun Fact for Trump

Courtesy of ABC's LIZ KREUTZ: On Monday alone Clinton raised at least $4.5 million from three fundraisers in New York City. That's $1.4 million more than Trump raised all last month.

Flashback

At this point in the 2012 cycle, Mitt Romney had raised $23.4 million. At the same point in 2008, John McCain had raised $21.5 million. Ben Carson, Ted Cruz, Marco Rubio and John Kasich, all of whom have suspended their presidential campaigns, had more cash on hand at the close of this reporting period than did Trump. http://abcn.ws/28Ptps5

Analysis -- ABC's Rick Klein

Where does Donald Trump go to get his base confident about his campaign? Not in internal management, with his campaign manager now out, the victim of an internal turf war that involved Trump's three oldest children. Not in his fundraising report, a measly document that would have set a new low this century for a major-party candidate at this stage in the cycle if not for another personal contribution he made. And not in campaign messaging that hasn't evolved since the distant primary phase, when insults and racially tinged remarks drew bold headlines. All three elements will prove difficult to fix. But none might be as devastating as anemic fundraising, so long as big donors either sit on the sidelines or mull their options in congressional races. Those desperate to block Trump's nomination before the convention have the fodder they need, just not a winning strategy or mechanism – at least not yet.

Happening Today -- Clinton to Deliver Anti-Trump Economic Speech

Hillary Clinton is back in Ohio today where she's set to deliver part one of an economic speech in which she'll go after -- who else? -- Donald Trump, ABC's LIZ KREUTZ reports. According to Clinton's senior policy adviser Jake Sullivan, the presumptive Democratic nominee's remarks will be similar in message to her recent national security speech in San Diego where she cast Trump as "dangerous" and "temperamentally unfit" to be president. "In Columbus, Hillary Clinton will outline this core proposition," Sullivan said about today's speech, "If we were to put Donald Trump behind the wheel of the American economy, he would very likely drive us off a cliff and working families would bear the brunt of the impact in terms of lost jobs, lost savings, and lost livelihoods." On Wednesday, Clinton is expected to deliver part two of her economic speech, which, according to aides, will be more policy-focused.

GOP Pre-Buts Clinton Speech

The Republican National Committee is out with a new research piece today titled, "Clinton's Double-Down Economics." An excerpt: "Hillary Clinton's economic policies amount to nothing more than four more years of Obama's failed tax and spend agenda, with tax increases that would further harm economic growth and hurt Americans' incomes. Clinton has repeatedly pledged to fully pay for at least $1.3 trillion in new federal programs and increased spending, but her tax increases fall over $1 trillion short of that total." FULL MEMO: http://bit.ly/28MFgYT