Exit Swalwell, enter Steyer. How much does money matter?
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Liz Marlantes Politics editor
| Washington, D.C.
Dear reader:
This week, the Democratic primary field both lost and gained a candidate. California Rep. Eric Swalwell ended his campaign, saying he would instead run for reelection to the House. And billionaire hedge fund manager and Democratic mega-donor Tom Steyer, also from California, announced he was getting in.
An underlying factor behind both of those decisions: money. Campaigns need cash to operate, and with second-quarter fundraising reports due next week, the candidates who鈥檝e raised big sums are already gleefully聽. As The Atlantic鈥檚 Russell Berman聽, Congressman Swalwell exited before that filing, 鈥渨hich will likely show him collecting only a paltry sum.鈥�
For Mr. Steyer, money鈥檚 not going to be a problem. He has donated hundreds of millions of dollars over the years to Democratic candidates and organizations 鈥� including his 鈥淣eed to Impeach鈥� campaign advocating for the impeachment of President Donald Trump, which the Monitor鈥檚 Linda Feldmann聽聽Mr. Steyer was also a key player in the 2018 midterm elections, pouring huge sums into get-out-the-vote operations in.
Now, he鈥檚 pledging to put $100 million of his own fortune toward a presidential campaign (cue grumbling Democratic strategists who wish he would put that money toward down-ballot races instead).
Still, money isn鈥檛 everything. Mr. Steyer鈥檚 late entrance means he鈥檚 unlikely to make the next round of debates.聽More to the point, there鈥檚 little evidence that Democratic voters have been hankering for additional candidates. If anything, voters have been pleading with their party to start culling the field.
鈥淔or some Democratic voters, the presidential months ago, when more candidates filed to run than could fit on two debate stages,鈥� writes The Washington Post鈥檚 David Weigel. He quotes a voter at an event for Massachusetts Sen. Elizabeth Warren, saying: 鈥淎re they really going to wait until the primary and then have all these people on the ballot? It鈥檚 like: Oh, my God. It鈥檚 really going to dilute and drag this out.鈥�
Of course, in 2015 a wealthy outsider entered an already crowded presidential race relatively late in the cycle 鈥� and we all know how that turned out. But if Democrats are searching for their party鈥檚 version of Mr. Trump, frankly, they may need聽.
Let us know what you鈥檙e thinking at聽csmpolitics@csmonitor.com.
