The Other McCain

"One should either write ruthlessly what one believes to be the truth, or else shut up." — Arthur Koestler

RNC Trounces DNC in Fundraising as Democrat Party Goes Bankrupt

Posted on | October 20, 2012 | 64 Comments

The official Federal Election Committee reports for September are out, and Debbie Wasserman Schultz’s DNC is a complete wreck. The Democrats ended September with cash on hand of $4.6 million, compared to the Republican National Committee’s $82.6 million.

That’s nearly an 18-to-1 cash advantage for Republicans.

Worse still for the DNC, they had to take out loans to pay the bills so that they owed $20.5 million at the end of September, meaning that that (subtracting cash on hand from total debt) they were $15.9 million in the red — essentially bankrupt. Wasserman-Schultz’s committee only raised $3.7 million in September; at that pace, it would take them more than four months to clear their debt, even if they didn’t spend another dime in the meantime.

Somehow, this seems an apt metaphor for the Obama era.

Now, go back to something I reported at The American Spectator last month when I was in Ohio, and Obama was leading the polls:

DAYTON, Ohio — Reporters circled around Reince Priebus at a campaign rally Monday in Lima and one asked the Republican National Committee chairman what he thought of polls showing Mitt Romney trailing President Obama in this crucial battleground state. Priebus said he was satisfied that the GOP challenger was “within a field goal” of the incumbent, and made a bold prediction: “We’re going to outspend the DNC 10-to-1 [in Ohio] for the next six weeks… We’re going to crush ’em on the ground.”

How many people actually believed that prediction? As incredible as it seemed at the time, Priebus and the RNC appear to be in a position to do exactly that and more. Meanwhile, reacting to reports that the DNC’s vendors are owed millions of dollars by Wasserman-Schultz’s committee — essentially taking I.O.U.’s from the Democrats — Jim Geraghty says:

Attention, vendors: Stop falling for this, make Debbie pay you in cash.

Worst DNC Chairman Ever!

Update (Smitty): welcome, Instapundit and Chockblock.

Update II (Smitty): more linkage at DaTechGuy

Category: Debbie Wasserman-Schultz, Democrats, Election 2012, Reince Priebus, Republicans

Comments

64 Responses to “RNC Trounces DNC in Fundraising as Democrat Party Goes Bankrupt”

  1. juliusstahl
    October 20th, 2012 @ 5:35 am

    THANK YOU, DEBBIE!

  2. Adjoran
    October 20th, 2012 @ 5:58 am

    Having worked for several newspapers and media outlets, none of them ever billed a political campaign for anything. Neither do office landlords, furniture leasers, or carry-out restaurants. At least, no one does TWICE.

    Winning campaigns will take their sweet time in paying the bill, and losing campaigns never will pay it. No, you deal with political campaigns on a COD basis. No cash, no delivery.

    Now, the national committees have always been a decent risk, sometime it will take them a year or more to clear the debts, like the Democrats after 1972, but they always pay eventually – lest vendors start treating them like they do candidates.

    But, you know, anybody who would bill their hotel or limo services to Al Sharpton’s Presidential campaign sort of deserves to lose their money, don’t they?

  3. Bankrupt « Chockblock's blog
    October 20th, 2012 @ 6:00 am

    […] nearly an 18-to-1 cash advantage for Republicans. – RNC Trounces DNC in Fundraising as Democrat Party Goes Bankrupt […]

  4. Adjoran
    October 20th, 2012 @ 6:23 am

    I could be wrong, but I’m not. Family resemblance? http://po.st/EGRxzi and http://po.st/INXmAX – could they share more than the family business?

  5. Mystapitt
    October 20th, 2012 @ 6:56 am

    With 17’days to go what good does all that money do the R’s? How about some ads in PA?

  6. Instapundit » Blog Archive » RNC TROUNCES DNC IN FUNDRAISING AS DEMOCRAT PARTY GOES ‘BANKRUPT:’ “Somehow, this seems an apt m…
    October 20th, 2012 @ 7:17 am

    […] TROUNCES DNC IN FUNDRAISING AS DEMOCRAT PARTY GOES ‘BANKRUPT:’ “Somehow, this seems an apt metaphor for the Obama era,” Stacy McCain […]

  7. Paul k
    October 20th, 2012 @ 7:19 am

    Go big

  8. Peter Ingemi
    October 20th, 2012 @ 7:26 am

    Remember when we were at Ann Marie Buerkle’s rally when the papers said she was down 11 and nobody had faith but us.

    Riding through them gentlemen, riding through them!

  9. higgins1990
    October 20th, 2012 @ 7:34 am

    It’s so nice to have a competent RNC chairman.

  10. higgins1990
    October 20th, 2012 @ 7:35 am

    This is true everywhere, me thinks. A friend of mine worked a campaign in central Russia. His client lost…and never paid. It’s like politicians have no integrity or something.

  11. pointsnfigures
    October 20th, 2012 @ 8:18 am

    polling in swing states doesn’t indicate that we will take the Senate. We also need to take the Senate.

  12. Wombat_socho
    October 20th, 2012 @ 8:40 am

    They’re demoralized as hell!

  13. Wombat_socho
    October 20th, 2012 @ 8:40 am

    They’re demoralized as hell!

  14. teapartydoc
    October 20th, 2012 @ 8:49 am

    Obama, if he wins, will have done so at the expense of destroying both our nation as well as his own political party. The most destructive president ever.

  15. jsn2
    October 20th, 2012 @ 9:00 am

    Maybe the DNC can get a Green Energy loan from the gov’t for all the gas they produce from nothing.

  16. Jack Okie
    October 20th, 2012 @ 9:07 am

    This Priebus guy seems to know what he’s doing. And from his interviews, it sounds like he enjoys a good brawl. That’s MY kind of Republican.

  17. LadyLiberty1885
    October 20th, 2012 @ 9:08 am

    I read the first paragraph and laughed so hard I cried.

  18. M_Becker
    October 20th, 2012 @ 9:14 am

    The DNC banks with an institution owned and run by SEIU. It’s going to be really interesting to see how much the unions are going to pony up to clear the Dems debts.

  19. RNC Trounces DNC in Fundraising as Democrat Party Goes Bankrupt | Filing Bankruptcy
    October 20th, 2012 @ 9:21 am

    […] this seems an apt m… Paul k. Go big … HIT THE FREAKING TIP JAR! … Read more here: RNC Trounces DNC in Fundraising as Democrat Party Goes Bankrupt ← Responsible Use of Personal Loans After Bankruptcy – Lanigan … Managing […]

  20. Demoralized as Hell: Horses and Pyrovile edition » Da Tech Guy's Blog
    October 20th, 2012 @ 9:31 am

    […] Stacy McCain and the Sept Finance Report drives the final stake through the Democrats Heart: The Democrats ended September with cash on hand of $4.6 million, compared to the Republican […]

  21. One hundred
    October 20th, 2012 @ 9:32 am

    It helps Republicans when Mitt Romney’s son has financial interests in the voting machines and Reince Priebus’ nefarious connection with Nathan Sproul.

    GOP = winning!

  22. Brett Bellmore
    October 20th, 2012 @ 9:33 am

    In a further metaphor for the administration, the lack of money and deep indebtedness will not result in a spending advantage for Republicans; The DNC will just spend money they don’t have, somehow.

  23. AriTai
    October 20th, 2012 @ 9:39 am

    Being numerate is an advantage. Whoda thunk?
    .
    Salman Khan (khanacademy.org) believes everyone can be an “A” student through at least Algebra 1. And the world would be a better place (far fewer sheeple that could be fooled by the media and others).
    .

  24. Larwyn’s Linx: Has the preference cascade begun? | Preppers Universe
    October 20th, 2012 @ 10:07 am

    […] lose to Todd Akin? You betcha: LIBummer: Allen West Crushing Dem Opponent in Florida: PavlichRNC Trounces DNC in Fundraising; DNC Now Bankrupt: RSMEconomyCA Official Who Nixed Unemployment Report a Big Obama Donor: JWFKey Democrat Admits: We […]

  25. Babs Ann
    October 20th, 2012 @ 10:09 am

    Just like they caused the Country to go bankrupt, they can’t budget the Gov checkbook and they can’t budget their own money. Take these children back to school, give them a piggy bank and teach them how to save money.

  26. Adobe_Walls
    October 20th, 2012 @ 10:18 am

    Someone with deep pockets should set up a shadow lending company, loan the DNC the dough to clear their debts and then foreclose. More likely, foreign “patrons” will launder the money through the SEIU.

  27. Why Was Obama Fundraising in California 30 Days Before the Election? He Needed the Money « Battleground Watch
    October 20th, 2012 @ 10:19 am

    […] lot of people wanted me to make hay out of the DNC needing a loan for the stretch run while the RNC was flush with cash. Don’t get me wrong, this is a huge political story but […]

  28. Michael Kelley
    October 20th, 2012 @ 10:34 am

    I love Rush’s term for the DNC chair: Debbie Blabbermouth-Schultz.

  29. No, It’s Not A Disaster for the Dems | Daily Pundit
    October 20th, 2012 @ 10:35 am

    […] No, It’s Not A Disaster for the Dems Posted on October 20, 2012 7:35 am by Bill Quick RNC Trounces DNC in Fundraising as Democrat Party Goes Bankrupt : The Other McCain […]

  30. JadedByPolitics
    October 20th, 2012 @ 10:42 am

    so it looks pretty good for our Senate candidates against theirs, because there is NO MONEY to send them to help them in their battle. They run their joint like they run the Country, like money grows on trees. What idiot vendor would take an IOU from the DNC, if they do, they should be out of business because they are not very smart or they are counting on a bailout…LOL!

  31. Rich Vail
    October 20th, 2012 @ 10:44 am

    well, Debbie WAS hand picked by Obama…who seems to have made horrendous executive decisions in picking people to run this country (into the ground)…

  32. Rich Vail
    October 20th, 2012 @ 10:45 am

    …so ride right through them!

  33. CIA in Libya reported that Benghazi was a terrorist attack in first 24 hours « Wintery Knight
    October 20th, 2012 @ 11:01 am

    […] account, which made Muslims look like innocent victims of offensive free speech by Americans. The Obama campaign is not doing too well in its fundraising, so they can ill afford to offend one of their most-favored constituencies by making them look like […]

  34. EBL
    October 20th, 2012 @ 11:02 am

    Ride Sally Ride!

  35. elkh1
    October 20th, 2012 @ 11:02 am

    10-1 spendings in next 6 weeks. Now only 2 weeks left, what have that 10-1 spendings gained in the passed four weeks? Any ideas?

  36. DNC is essentially Bankrupt | Race 4 2012
    October 20th, 2012 @ 11:07 am

    […] official FEC fillings for last month are now in. Things do not look good for the Democratic Party. The Other McCain reports: The official Federal Election Committee reports for September are out, and Debbie […]

  37. Dodd
    October 20th, 2012 @ 11:12 am

    I disagree. DWS is the BEST DNC Chairman Ever.

  38. mechanic540
    October 20th, 2012 @ 11:40 am

    My side hurts from all the LOL I get reading these things.

  39. Kevin Furr
    October 20th, 2012 @ 12:01 pm

    DNC isn’t bankrupt, it’s merely insolvent. I mean there is a difference. If you have cash coming in to pay the bills, you’re not bankrupt. And, somehow, inexplicably, they still do.

  40. Vennoye
    October 20th, 2012 @ 12:34 pm

    Drudge today says they borrowed $15M from BOA. The only thing these people know how to do is burn money…..for no results!!

  41. Figures. Obama Campaign Spends More Than it Takes In – Borrows From Evil Bankers | PolitifreakPolitifreak
    October 20th, 2012 @ 12:46 pm

    […] Glenn Reynolds: RNC TROUNCES DNC IN FUNDRAISING AS DEMOCRAT PARTY GOES ‘BANKRUPT:’ “Somehow, this seems an apt metaphor for the Obama era,” Stacy McCain […]

  42. James Lee Johnson
    October 20th, 2012 @ 1:01 pm

    Worst DNC Chairman ever…Or Best?

  43. Zilla of the Resistance
    October 20th, 2012 @ 1:25 pm

    Bathhouse Barry is NOT going to win, and he knows it.

  44. Zilla of the Resistance
    October 20th, 2012 @ 1:29 pm

    Morally bankrupt party goes actually bankrupt. I guess the DNC spends its money as “wisely” as Obama has spent the country’s. I wonder if they have people scoping out bathhouses for Barry in Oahu yet.

  45. Obama Campaign Borrows $15 Million From BofA, DNC Going Bankrupt | The Lonely Conservative
    October 20th, 2012 @ 1:35 pm

    […] But the good news is that the Republican National Committee has an 18 to 1 cash advantage. Yes, you read that right.The official Federal Election Committee reports for September are out, and Debbie Wasserman […]

  46. John J Trainor
    October 20th, 2012 @ 2:16 pm

    Be certain of one thing, they will not pay the loans back. a old Democrat habit.

  47. M. Thompson
    October 20th, 2012 @ 3:08 pm

    MWHAHAHAHAHA!

  48. AriTai
    October 20th, 2012 @ 5:42 pm

    I see that the Obama Campaign has just borrowed (10M$?) from Bank of America. If/when not paid back this is as good as a contribution. If I were writing laws I’d insist anyone who loans money to Party A loan the same amount of money to party B, which only has to repay it if/when Party A does. And since a fair number of wealthy candidates loan their campaign money…

  49. darren65
    October 20th, 2012 @ 8:07 pm

    Worst DNC Chairman ever? Not for me, she’s not!

  50. Math is Hard | hogewash
    October 20th, 2012 @ 10:42 pm

    […] Math is Hard Posted on 20 October, 2012 by wjjhoge Not only does the Republican National Committee have an 18:1 cash-on-hand advantage, but the Democratic National Committee actually has a negative net worth. […]