Monday’s Iowa caucus brought the first win for Senator Ted Cruz, (R-TX), but the win was far from a slam dunk. Donald Trump, business mogul and billionaire was nipping at his heels with Senator Marco Rubio, (R-FL) almost catching Trump. Three candidates that will now go to the mattresses to win that all important Republican nomination for President. The road to the nomination is a long and expensive one. Candidates must have PAC’s, SuperPAC’s and lots of big money if they are to win and be the next President of the United States.
Senator Ted Cruz has said that most of his donations come from just regular people. Regular people if you include, Club for Growth. Club for Growth describes themselves as “conservative political action group that seeks to promote public policies that support a fiscally conservative economic agenda. The Club accomplishes its mission by raising money through its political action committee and donating it to candidates that adhere to this vision.” So they are a PAC. Not really the guy next door. Then there is Goldman Sachs, some really big guys next store. Goldman Sachs is one of Wall Street’s most prestigious investment banks, was also among the many banks in 2008 and 2009 to receive billions of dollars in taxpayer money to help it stay afloat. So the sponsor of Ted Cruz is a bank that was bailed out by the American people.
Senator Marco Rubio ran a close third in Monday’s Iowa caucus. He has a grassroots organization worked hard to get out people to caucus for him. Sometimes it is hard to tell the player without the scorecard. That scorecard for Rubio is holding has some of the same players that Cruz is holding. For example, Goldman Sachs. Goldman Sachs has been generous to both candidates which begs the question, why? While voters are trying to figure out which candidate is the best for the country, a Wall Street Bank has decided to bet on both. How does that actually work in the polling booth? Will voters get to choose both or can they double down too?
Donald Trump came in second on Monday night. Trump has stated that he will not take financing from Wall Street Banks or SuperPACs. Monday, Trump’s campaign released his new financial statements regarding his campaign. The statements show that over the past three months, Trump funded his campaign with $10.8 million in loans and a $100,000 donation, his largest personal investment to date. Supporters also donated $2.6 million, with the most money coming from Florida and California. According to NBC News, “Trump spent far less than most of his rivals last quarter. Clinton and Sanders both topped $30 million, Marco Rubio and Ted Cruz each spent about $15 million, while Trump spent just $6.9 million.” This style is all Trumps. It is a cost effective way of campaigning. It is what the Trump campaign promises the candidate can do if elected President.