Democratic National Committee is $6.2M in debt

Bill Allison reports for Bloomberg, June 13, 2019, that the Democratic National Committee (DNC) “has a money problem,” which “could hurt its nominee’s chances of beating President Donald Trump in 2020.”

That’s because whoever wins the party’s nomination will rely heavily on the DNC in the general election for organizing, identifying voters and getting them to the polls. All of that will cost hundreds of millions of dollars by election day.

Signs of the DNC’s money problem include:

  • The DNC has been borrowing money.
  • The DNS is sending out fundraising appeals under the presidential candidates’ names, something it’s never done before.
  • In the first four months of 2019, the party spent more than it raised and added $3 million in new debt.
  • By the end of April, the DNC had collected contributions of more than $24.4 million, but had spent $28.4 million, according to the latest Federal Election Commission (FEC) disclosures. It had $7.6 million cash on hand, $1 million less than in January.
  • All of which led the DNC, at the end of April, to post $6.2 million in debt, including bank loans and unpaid invoices to vendors.

In contrast, the Republican National Committee (RNC) is stockpiling cash. It raised nearly $62 million so far this year, two-and-a-half times the DNC’s haul. Thanks in part to President Trump’s non-stop fundraising since winning the White House, the RNC has $34.7 million in the bank and no debt.

Demonrats attribute the DNC’s money problem to:

  • Competition from the 23 Demonrats who are running for president and vacuuming up contributors’ cash, instead of the money going to the DNC. From January through March 2019, 16 presidential Demonrat candidates collectively raised $77 million, or $3 million more than Trump’s committees and the RNC combined.
  • Perception of some contributors that the national party is disorganized — a hangover from the 2016 election.
  • Donors may be discouraged by the growing schism between the old-guard establishment and the younger, activist wing.
  • Former DNC chair Debbie Wasserman Schultz who, during the 2018 Demonrat primaries, sabotaged Bernie Sanders by surreptiously helping Hillary Clinton. John Morgan, an Orlando-based trial attorney and Demonrat fundraiser, said “Debbie Wasserman Schultz really destroyed a lot of confidence in the DNC for a lot of people and for a lot of different reasons,” and that her favoring of Hillary and mismanagement of the party continues to give donors pause.
  • The DNC must also compete for donations with other Democratic organizations, such as:
    • The Democratic Congressional Campaign Committee (DCCC), which supports House candidates to ensure Demonrats keep their House majority won in 2018. DCCC has raised more than $40 million this year, more than the DNC’s totals each month.
    • The Democratic Senatorial Campaign Committee (DSCC), DCCC’s Senate counterpart, has raised $18 million this year.
    • Super PACs such as Priorities USA, the main super PAC for supporting the party’s presidential nominees. Priorities USA’s donors include some of the biggest Democratic givers, e.g., billionaire George Soros, and hedge-fund operators S. Donald Sussman and James H. Simons.

To compete in 2020, the DNC has acquired 100 million cellphone numbers to contact voters via text message. This summer, it will train about 1,000 college juniors who will be ready to hit the ground running next year.

~Eowyn

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Auntie Lulu
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Auntie Lulu

Well, I guess I just have to admit from the get-go . . . I am a mean old Deplorable, because this news just plain thrills me.

Lophatt
Member
Lophatt

That’s great but they just call up the Central Committee and (((they))) print some more. They have access to enough to fill several clown cars with “candidates”. One aspect of this that I don’t think many understand is that, once they run, they can forever keep a vehicle for laundering money for political purposes. That’s why DeBlasio doesn’t care. He isn’t trying to “win”, he just wants a place where his owners can park funds. He can “draw” on it for “office stuff”, travel, etc.. So, them having lots of “candidates” is another way of saying we have long-range plans… Read more »

Jackie Puppet
Member

But yet they still won the House last year.

Clarioncaller
Guest
Clarioncaller

Good legal defense costs a lot of money. I also read that high-end wheels are tanking and there’s a rush on 2nd mortgages in ‘certain’ neighborhoods.

DCG
Editor

Last year I had the DNC contact my cell. I replied back, “MAGA.”

Haven’t heard from them again!

Ron W
Guest
Ron W

Maybe Soros can provide yet some more.

Anonymous
Guest
Anonymous

Good!

Alma
Member
Alma

Big wheels in the party “WHERE DID THE MONEY GO?”

Occams
Guest
Occams

Yes, and everything is soooooooo much better under republicans, right? 1st and 2nd in jeopardy, trying to start wars with Iran, China, N Korea, Russia, Venezuela. Whistleblowers being hunted down and prosecuted. Borders are wide open and flooded. Illegals dropped off in whatever city they can dump them in. States in total violation of the US Constitution – while Trumpy looks the other way. Cops on a beating and shooting rampage of innocent and unarmed citizens – with Trump’s approval. AMERICANS starving and unable to get healthcare (or ARRESTED for unpaid bills – while illegals get 100% coverage!), while $11… Read more »

Steven Broiles
Member

The $6.2 million of debt the Democratic National Party has is but a paltry penny compared to the incalculable and irreparable damage it has done to the Social Fabric of the Nation as a whole. America went to the roadhouse somewhere near “Deliverance” and had the living daylights beaten out of her over the course of the last century. The body count from many wars, abortion and its failed policies has deprived both America and the rest of the World from the contributions the dead in that body count could have contributed. The Republican Party is not much better, to… Read more »

YouKnowWho
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YouKnowWho

What is the dnc using for collateral?

Roger V.Tranfaglia
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Roger V.Tranfaglia

ANNDDD of COURSE…ITS ALL TRUMP’s FAULT!!!
(sarcasm ON)

gina
Guest
gina

No surprise, this is exactly how the party of “free” ruins countries!