The presidential campaign of former Vice President Mike Pence has incurred a debt of over $600,000, despite having raised $3.3 million in the third quarter, according to financial disclosures.

Currently, Pence’s campaign holds $1.2 million in cash, putting him behind his fellow GOP primary candidates Florida Gov. Ron DeSantis with $5 million and Nikki Haley with $9.1 million.

Pence has also personally given $150,000 to his campaign.

After being questioned by journalists about his campaign’s finances as he registered for the New Hampshire primary, Pence acknowledged that they needed to be more strategic with their resource allocation. He stated that although other campaigns have more money the ultimate prize will be votes.

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Due to poor fundraising, Pence has chosen not to participate in the GOP Nevada caucuses. Instead, he will register for the state-administered primary, which is considered a non-binding contest and will not allocate any delegates for choosing the party’s nominee.

Even worse for Pence, it is unclear if he will even qualify for the third GOP primary debate, as it requires 70,000 individual donors.

Meanwhile, President Joe Biden‘s reelection campaign along with the Democratic National Committee has managed to collect more than $71 million during this quarter. The campaign raised $91 million, which the campaign emphasized is the largest amount raised by any Democratic presidential candidate at this stage of the cycle. Approximately 493,000 supporters have contributed to the president’s campaign.

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