RNC Trounces DNC in Fundraising as Democrat Party Goes Bankrupt

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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

64 comments

  2. 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?

  8. 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!

  10. 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.

  14. 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.

  16. 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.

  18. 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.

  21. 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. 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.

  25. 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. 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.

  30. 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!

  35. 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?

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

  44. 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.

  48. 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…

  50. […] 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. […]

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