Both Parties' Campaign Committees End Election Year in Debt

2 years ago

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The GOP won big in the midterm election, but both parties are running about even when it comes to the amount of debt their campaign committees racked up this year.

Both the Republican National Committee and the Democratic National Committee filed reports this week that showed they are each about $15 million in the red.

The RNC is worse off financially because it only has about $1.9 million in the bank to pay its bills. The committee has informed vendors that they would not be paid on time, The New York Times reported Friday.

The DNC reported having $9.7 million cash on hand.

The Times points out that the RNC's large cash-to-debt gap could make re-election difficult for Michael Steele, should the party chairman decide to seek reelection.

Filed Under: Democrats, Republicans, Fundraising, 2010 Elections

Tagged: 2010 elections, dailyguidance, debt, Democratic National Committee, michael steele, Republican National Committee

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John Vilvens

Borrow the money from Fannie and Freddie there are no finicail restrictions on them. They were left out of the reform act so they can leand you all you need and you do not have to pay it back.

December 05 2010 at 7:39 AM Report abuse Permalink rate up rate down Reply

JOHNNY B

UNTILL THE AMERICAN PEOPLE REVOLT AGAINST THE WAY POLITICAL MONIES ARE USED FOR ELECTING OUR GOV NOTHING WILL EVER CHANGE , MONEY TALKS VERY SAD THE SHAPE WERE IN

December 04 2010 at 11:05 AM Report abuse Permalink +3 rate up rate down Reply

ettu

It is just disgusting that it takes millions upon millions to run for public office. Then, what do we get? A bunch of lawyers who have no idea how to run a country. They simply write laws to burden the people, and enrich themselves.

December 04 2010 at 9:43 AM Report abuse Permalink +6 rate up rate down Reply

tistolaugh

Gee just a few days ago we were only hearing about the GOP's campaign debt. Guess someone finally called the media out about the left's equal debt. Only difference being the left suffered amjor losses for all their spending.

December 03 2010 at 11:04 PM Report abuse Permalink +2 rate up rate down Reply

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