Democratic National Committee Financials Reveal Insight Into Party’s Money Management Style
August 21, 2013 by Personal Liberty News Desk
Recently released financial filings indicate that government spending isn’t the only area in which Democrats pretend that debt doesn’t matter. The Party is still struggling to pay off $18.5 million in campaign debts as its cash on hand continues to decline.
In July, the DNC’s debt burden increased from $18.3 million to $18.5 million, while the amount of cash the Party had on hand decreased from $5.7 million to $4.1 million.
The DNC has slowly tried to chip away at the more than $20 million in debt it racked up during the last election cycle over the past seven months—but the key word is slowly.
In the past three month, Democratic Party officials have been able to pay down $2 million in debt, just outpacing a decline in the amount of cash on hand totaling $1.3 million.
But DNC leaders aren’t too worried—in fact, they say they’re proud.
“We put that into a field. We won a whole bunch of states nobody thought we would win, and we’re proud of that,” Committee spokesman Michael Czin said. He added, “The sky’s not falling.”
On the other hand, the Republican Party coffers are in the black. The RNC reported raising $5.9 million in funding for July, and has $12.3 million in cash and no debt.