The Democratic National Committee is having some serious financial issues.
This is not the position they want to be in as we head into the 2020 election, but that’s their reality.
Ouch. The DNC Just Keeps Going Further And Further In Debt.
Bloomberg reports that the Democratic National Committee’s financial woes continue as Chairman Tom Perez and his colleagues continue to spend more than they take in. In fact, the DNC has already added $3 million in new debt in just the past four months.
The Republican National Committee, however, is raking in boatloads of cash ahead of the 2020 election which will surely give President Donald J. Trump a leg up on whomever he ends up running against.
In 2019 already, the “DNC had collected contributions of more than $24.4 million but had spent $28.4 million, according to the latest disclosures. It had $7.6 million cash on hand, $1 million less than in January. It posted $6.2 million in debt, including bank loans and unpaid invoices to vendors,” according to Bloomberg.
But, the RNC has $34.7 million on hand with no debt at all. Plus, the GOP has raised $63 million this year.
Some Democratic party bundlers insist that the only reason donations are so low is because people are giving their dollars to individual candidates seeking the nomination, not the actual party right now.
The outlook for the Republican National Committee is indeed much better.
The Washington Examiner reports:
RNC records another record fundraising haul in April, $35 million in bank
Like the surging Trump economy they hope to ride to victory on Election Day 2020, the Republican National Committee said Thursday that it brought in $15.9 million in April, the latest fundraising record breaking month.
Officials told Secrets that the party also has $34.7 million on hand and zero debt.
The RNC has been regularly blasting through fundraising records as it readies for the election, having already brought in $61.8 million since the last one. And while it is spending heavily on technology and organizing, its cash in the bank continues to grow.
In March, for example, the party raised $15.5 million and had $33.1 million on hand.
“Our record-breaking April fundraising haul is yet another example of the outstanding leadership of Chairwoman Ronna McDaniel along with the overwhelming grassroots support for President Trump, and the winning results of a Republican-led agenda,” said RNC Chief of Staff Richard Walters.
It’ll be fascinating to see what kind of impact this has on the election.
Republicans clearly have a financial advantage.