It is unclear why the first $1 billion campaign needed an extra $15 million for the final two months of the campaign.
THE BIGGER STORY: ◼ Obama Campaign Borrows $15 Million From BofA, DNC Going Bankrupt - The Lonely Conservative
If you think the Obama campaign finances are bad, wait until you hear about the Democratic National Committee. Under the leadership of Debbie Wasserman Schultz it’s going bankrupt. But the good news is that the Republican National Committee has an 18 to 1 cash advantage. Yes, you read that right.◼ RNC Trounces DNC in Fundraising as Democrat Party Goes Bankrupt - The Other McCain
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.◼ RNC Has $83 Million Cash On Hand, DNC Takes Out Loan - Mediaite
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.
Heading into the final weeks of the 2012 campaign, the Republican National Committee announced that it raised $48.4 million in the month of September and has $82.6 million in the bank. The Democratic National Committee, meanwhile, took $10.5 million in loans and raised less than half the RNC’s total last month — $20.3 million.
“While we continue to put money into our ground game and fully fund our absentee ballot, early vote and Election Day GOTV efforts in all our battleground states, our historic cash on hand figure also allows us to continue funding our independent expenditure committee, run highly effective hybrid ads and assist in electing Republicans across the country at all levels,” RNC chairman Reince Priebus told POLITICO.
“The DNC declined to comment for this report,” POLITICO’s Tarini Parti concludes.
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