tinydancer
Diamond Member
All y'all whacky zany liberals and progressives should really stop predicting the demise of conservatives and tea partiers and check your own back yard.
I love it. I'm having so much fun today.
The DNC is nearly broke
September 30, 2013: 10:20 AM ET
As the government nears shutdown, the fundraising arm of the Democratic Party is having a budget crisis of its own.
By Tory Newmyer, writer
It is a highly unusual state of affairs for a national party -- especially one that can deploy the President as its fundraiser-in-chief -- and it speaks to the quiet but serious organizational problems the party has yet to address since the last election, obscured in part by the much messier spectacle of GOP infighting.
The Democrats' numbers speak for themselves: Through August, 10 months after helping President Obama secure a second term, the DNC owed its various creditors a total of $18.1 million, compared to the $12.5 million cash cushion the Republican National Committee is holding.
Several executives at firms that contract to provide services to the party -- speaking anonymously to avoid antagonizing what remains an important if troubled client -- describe an organization playing for time as they raise alarms about past-due bills falling further behind.
And senior strategists close to the DNC say they worry the organization appears to have no road map back to solvency.
"They really thought they could get this money raised by the summer," one said, "but the fact is, from talking to people over there, they have no real plan for how to solve this."
The Democratic National Committee is nearly broke - The Term Sheet: Fortune's deals blogTerm Sheet
I love it. I'm having so much fun today.
The DNC is nearly broke
September 30, 2013: 10:20 AM ET
As the government nears shutdown, the fundraising arm of the Democratic Party is having a budget crisis of its own.
By Tory Newmyer, writer
It is a highly unusual state of affairs for a national party -- especially one that can deploy the President as its fundraiser-in-chief -- and it speaks to the quiet but serious organizational problems the party has yet to address since the last election, obscured in part by the much messier spectacle of GOP infighting.
The Democrats' numbers speak for themselves: Through August, 10 months after helping President Obama secure a second term, the DNC owed its various creditors a total of $18.1 million, compared to the $12.5 million cash cushion the Republican National Committee is holding.
Several executives at firms that contract to provide services to the party -- speaking anonymously to avoid antagonizing what remains an important if troubled client -- describe an organization playing for time as they raise alarms about past-due bills falling further behind.
And senior strategists close to the DNC say they worry the organization appears to have no road map back to solvency.
"They really thought they could get this money raised by the summer," one said, "but the fact is, from talking to people over there, they have no real plan for how to solve this."
The Democratic National Committee is nearly broke - The Term Sheet: Fortune's deals blogTerm Sheet
