Unfortunately, what Joe Biden was doing was very typical. Politicians, even those already elected, must fund raise constantly to keep up the coffers just in order to remain viable. [That is, if they are up for re-election at the end of their terms, as Obama and Biden will be.]
There is no way around this, unless we change election laws. And freedom of speech always comes up as an issue when we try to do that.
A recent Supreme Court ruling gave corporations the freedom to spend as much money as they wanted to in order to promote a candidate, raising the financial stakes even higher.
So this problem isn't going to go away any time soon. In fact, it is only going to get worse since that SC ruling, seeing as corporations have very deep pockets and lots of reasons to back the candidate of their choice.
Interestingly [from Wikipedia
That article also mentions that John McCain, who has been a sponsor of successful campaign finance legislation in the past, predicts that there will be a public backlash from this ruling, once the effects of it start to reveal themselves. But that will take time.