ATLANTA — The presidential politics calendar turned to 2020 nearly a year ago. This week, the actual date catches up. What we’re watching as the preseason closes and election year opens:
Days to Iowa caucuses: 35
Days to general election: 309
THE NARRATIVE
The ups, downs and swerves of 2019 yielded a stable top slate. Former Vice President Joe Biden leads most national polls of Democratic primary voters, with Sens. Bernie Sanders of Vermont and Elizabeth Warren of Massachusetts within striking distance. Yet in the first caucus state of Iowa and the first primary state of New Hampshire, there’s a jumble of Biden, Sanders, Warren and Mayor Pete Buttigieg of South Bend, Indiana. At first glance, it’s a clean choice: Biden and Buttigieg hail from the center-left; Warren and Sanders come from the progressive left. Reality is more layered. All four have weaknesses within Democrats’ diverse electorate; each makes a different case for carrying the banner against President Donald Trump, who is now impeached but a near certainty to survive a Senate trial. If that’s not enough indecision, several wildcards — including two billionaires — still hope to scramble the contest.
THE BIG QUESTIONS
Money: Who can (sort of) compete with Michael Bloomberg’s wallet?
The fourth-quarter fundraising period ends Tuesday. Warren and Sanders set the early curve for grassroots donations, outpacing Buttigieg and Biden, who tap traditional deep-pocketed contributors in addition to online donors. Now those small-donor juggernauts must compete with former New York Mayor Michael Bloomberg, who’s used a share of his estimated $50 billion personal fortune to blanket television and digital advertising and build an expansive staff in Super Tuesday states. For his rivals, it’s not so much about keeping up; Bloomberg can easily outspend every other campaign, including that of fellow billionaire Tom Steyer. But there’s only so much television time for sale, and if Warren and Sanders want to plow big money into Super Tuesday, especially the expensive television markets of California, they’ll need as much cash as possible ahead of time. Biden, meanwhile, has already secured his best fundraising quarter (a relative comparison for a candidate who’s lagged other top-tier contenders). The question is whether Biden’s “best” mollifies establishment Democrats who waved red flags when he reported having less than $9 million on hand at September’s end.
Money, Part II: How long can Cory Booker keep going?
The year-end deadline is critical for New Jersey Sen. Cory Booker as he reaches for relevance. The last of two African American candidates (along with former Massachusetts Gov. Deval Patrick), Booker made a do-or-die money appeal in September, and it worked. But it’ll take more than scraping by to fund the turnaround he envisions: a surprise finish in overwhelmingly white Iowa to kick-start a dramatic rise in more diverse primary states that follow (Barack Obama’s 2008 path). Campaigns that hit big fundraising numbers tend to leak that news before Federal Election Commission filings are due. Candidates with bad news tend to wait. So, it bears watching how Booker’s team plays it to start January.