Pence Campaign About To Go Under?

Former Vice President Mike Pence’s campaign has been a sinking ship ever since it started but now it may finally go under.

Pence’s campaign recently shared with NBC News that they are currently in a tight financial squeeze.

The campaign shared that they are currently $620,000 in debt despite raising over $3.3 million in the third quarter alone.

Pence’s increasing debt is a major sign his campaign will come to an end soon and some have compared it to Governor Scott Walker’s failed campaign in 2015 where he pulled out of the race after going into debt.

Pence’s campaign raises $3.3 million in third quarter, has $620,000 in debt https://t.co/Tq46xnu2Av pic.twitter.com/bKcCMqtCPn

— The Hill (@thehill) October 15, 2023

Here’s what NBC News reported:

Former Vice President Mike Pence’s 2024 campaign faces a potentially existential cash squeeze, with debt already piling up.

The campaign told NBC News it will report having raised $3.3 million in the third quarter, with $1.2 million cash on hand and $620,000 in debt, when its campaign finance filing is due to be made public Sunday. Pence himself chipped in $150,000 from his personal funds, the campaign said.

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Pence’s numbers reveal a campaign under serious strain, operating on completely different financial terrain from that of his rivals, and they raise questions about his ability to continue to compete in the GOP primaries. Racking up debt, in particular, has long been a sign of presidential campaigns in trouble — and potentially on the verge of ending.

The last GOP presidential primary season offers an ominous parallel from this moment eight years ago: Then-Wisconsin Gov. Scott Walker’s campaign reported just under $1 million in the bank and $161,000 in debt at the end of the third quarter of 2015, the equivalent moment in that election cycle. That’s when he dropped out of the race.

The next campaign finance report Walker’s suspended campaign filed made it clear how rapidly things could spiral. The report, covering the final three months of 2015, showed his campaign needed to deal with more than $1.2 million in debt. It took Walker a year to raise the money to retire the debt.

EXCLUSIVE: Former Vice President Mike Pence’s 2024 campaign is facing a potentially existential cash squeeze, with debt already piling up on the balance sheet. https://t.co/t5dRF8u78T

— NBC News (@NBCNews) October 15, 2023

Per The Hill:

Former Vice President Mike Pence’s 2024 campaign raised $3.3 million during the third quarter and has accrued $620,000 in debt, according to an official who confirmed the figures to The Hill ahead of filings being made public.
The campaign has $1.2 million in cash on hand, and the official confirmed that Pence himself gave $150,000 to the campaign from his personal funds.

The numbers lag far behind former President Donald Trump, the frontrunner in the GOP primary contest, as well as other candidates like Florida Gov. Ron DeSantis (R) and former South Carolina Gov. Nikki Haley (R), underscoring how Pence has struggled to gain traction in the crowded field.

He has sought to draw clear contrasts with Trump and other candidates on abortion and foreign policy in particular, where Pence has voiced support for federal action to limit abortion access and for ongoing U.S. support for Ukraine.

Former vice president Mike Pence’s 2024 campaign has accumulated $620,000 in debt, a signal of financial troubles as Pence has struggled to gain traction in the Republican primary. https://t.co/Pt9BL0sBUn

— The Washington Post (@washingtonpost) October 15, 2023