Quick Hit:

Robert F. Kennedy Jr.'s independent presidential campaign is facing severe financial challenges, spending more than it raised in July, leaving the campaign nearly broke.

Key Details:

• The campaign ended July with $3.9 million in the bank and $3.5 million in debt.
• In July, the campaign spent over $7 million while raising only $5.6 million.
• Nearly half of the fundraising came from Kennedy's running mate, Nicole Shanahan.

Diving Deeper:

Robert F. Kennedy Jr.'s independent presidential bid is facing significant financial difficulties, as new reports reveal that his campaign is struggling to stay afloat. According to the latest Federal Election Commission filings, Kennedy’s campaign had just $3.9 million in cash at the end of July while carrying $3.5 million in debt. This precarious financial position is the result of the campaign spending more than $7 million in July, while only bringing in $5.6 million in donations.

The fundraising numbers are particularly concerning given that nearly half of the money raised came from Kennedy’s running mate, Nicole Shanahan. The lack of outside financial support underscores the campaign’s difficulty in gaining traction among voters and donors alike.

Kennedy’s campaign has been plagued by other challenges as well. Despite efforts to secure ballot access in key states, the campaign recently suffered a setback when a New York judge ruled that the residential address on Kennedy’s petitions was not his legitimate home address, denying him a spot on the ballot in that crucial state.

Moreover, Kennedy has been largely absent from the public eye, not appearing at a campaign event since early July. Instead, his visibility has been limited to occasional appearances on podcasts and conferences. This lack of public engagement has coincided with a decline in his polling numbers, as both major parties have consolidated their support following the Republican National Convention and the replacement of President Joe Biden by Vice President Kamala Harris as the Democratic nominee.

In a sign of the campaign's growing desperation, Kennedy has reportedly sought positions in the potential administrations of both Harris and former President Donald Trump in exchange for dropping out and endorsing them. However, these overtures have reportedly been rejected by both camps.

The campaign's July finance report indicates that much of its spending was directed toward efforts to secure ballot access. The largest expenditure was made to Accelevate 2020 LLC, a firm specializing in ballot access services. Other significant expenses included more than $600,000 on digital ads through Facebook and Google, as well as accruing over $400,000 in new debt to a security firm managed by one of Kennedy's longtime associates.