Ben Carson's Campaign Burning Through Cash

Internal documents reveal that Ben Carson’s campaign is spending more money than it’s taking in.

According to documents obtained by the Wall Street Journal, Carson’s team raised $8.8 million in October and spent $9.5 million.

Campaign spokesperson Doug Watts told the newspaper that it spent more than it took in that month to pre-pay for direct mail and advertising campaigns.

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“You can easily go upside down in a budget report that’s on a cash basis without actually being upside down,” He said. “You’re paying for expenses that you are incurring for future activities, for future fundraising activities or for future campaign activities.”

This revelation of heavy spending comes amid a slide for Carson, who has been slipping in the polls over the past few weeks. Carson was in first place in Iowa on November 1, down to fourth place now.

[Wall Street Journal]

Write to Tessa Berenson at tessa.berenson@time.com.