The Democratic Party is carrying more than $6 million in debt, according to year-end filings — and has just $6.5 million in the bank. Do the math, and the party is working with just over $400,000 overall. Meanwhile, the Republicans are swimming in pools of money. The Republican National Committee had raised $132 million by the end of 2017 — about twice as much as the DNC — and entered 2018 with almost $40 million to spare, with not a penny of debt.
And thus ends the DNC’s year of pain.
Rcpt $5.21M ($65.9M YTD)
Expn $4.98M ($69.9M YTD)
COH – Debt $422,582
Rcpt $11.1M ($132.5M YTD)
Expn $12.1M ($119M YTD)
COH – Debt $38,818,629
The DNC’s rebuttal, The Washington Post reports, is that they raised more money in 2017 than they have in previous non-election years and were operating at something of a disadvantage given the “rebuilding job” undertaken by first-year chairman Tom Perez. While the DNC claims it is not borrowing money to pay the bills, Grim notes that the party would be operating at a financial loss if not for its borrowing.