Biden campaign out-raised Trump by over $150 million in August

The Trump campaign and its joint fundraising committees with the Republican National Committee raised over $210 million in August, they announced Wednesday.

Why it matters: Joe Biden and the Democratic National Committee raised $364.5 million in the same period, dwarfing Trump's total fundraising haul by over $150 million. It is believed to be the most ever raised by a presidential candidate in a single month.

What they're saying: "Democrats pulled out all the stops in an attempt to boost Joe Biden’s campaign this month," the Trump campaign and the RNC said in a statement.

• "In addition to the announcement of their vice presidential nominee and DNC Convention which historically brings an influx of cash, Democrats relied heavily on Hollywood celebrities and gimmicks to raise their numbers."
• "But big names are no match for the enthusiasm advantage that President Trump enjoys and the ground game that the Trump campaign and RNC have amassed over the past four years."

Between the lines, via Axios' Alayna Treene: The massive disparity in funding comes days after the New York Times revealed how the president’s re-election campaign blew through their nearly $200 million cash advantage over Biden. Now, Trump is strapped for cash. 

• The defeat is also seen as a reflection of the campaigns’ abilities to fundraise off their respective conventions. The Trump campaign had initially hoped the RNC would energize both the president’s base and the GOP as a whole to dish out heaps of money for Trump.
• Amid the reports of a cash crunch, Trump said on Tuesday that he'll spend "whatever it takes" of his own money if necessary to win in November.

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