Biden Is Winning the Money Race. Does It Matter?

Last week President Biden, flanked by former Presidents Obama and Clinton, came to Radio City Music Hall for what Biden’s campaign called “the most successful political fund-raiser in American history.” The former Presidents, alongside celebrities like Stephen Colbert, Mindy Kaling, Lizzo, and Queen Latifah, spoke to an audience of 5,000 donors. And according to the Biden campaign, the event brought in more than $25 million.

That fund-raising haul further tips the scales in the money race between Trump and Biden — a race that, so far, the Democrats have been winning. But Biden’s big cash advantage hasn’t helped solve his political problems. And when two candidates are as well known as Biden and Trump, there might be a limit to what money can buy.

This week, we speak with longtime Democratic donor Robert Wolf about the Radio City fund-raiser and why he’s donated to Biden. And National Political Correspondent Shane Goldmacher explains the vast financial gap between the candidates.