Biden camp has $117 million post-fundraising blitz

Between the lines: The Biden team continued to ramp up its spending in the second half of the year.

• The Biden team spent 73% of the money it raised in the fourth quarter, slightly lower than the 80% burn rate in the third quarter.

Of note: The Biden campaign and the associated committees raised less than former President Trump's re-election campaign did at this point four years ago, but more than then-President Obama's re-election campaign at this point.

• Trump raised $154 million in the fourth quarter of 2019 and had $195 million cash on hand going into 2020.
• In the fourth quarter of 2011, Obama raised $68 million and had $81 million in the bank at the beginning of 2012.
• Most of the Republicans running for president have not yet announced their fundraising numbers, but they will be disclosed this week.

By the numbers: The campaign said a fundraising contest to meet Biden and Vice President Kamala Harris earned the campaign over $3 million — besting a similar contest in the third quarter to meet Obama and Biden, which raised $2.5 million.

• Biden's team said they have held 110 fundraisers since announcing the re-elect and 39 of them were in the fourth quarter.
• In the fourth quarter, more than 520,000 people gave to the campaign, Biden's team said.

What they're saying: Biden campaign manager Julie Chavez Rodriguez said the money raised sends a "clear message: the Team Biden-Harris coalition knows the stakes of this election and is ready to win this November."

Go deeper: Trump dominates 2024 GOP cash race