Forbes is reporting the Democratic National Committee is almost broke:
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.”
DNC national press secretary Michael Czin says the committee is working with vendors on a case-by-case basis to pay down their tabs. And filings show the organization over the last five months has made $4.5 million in payments to the Amalgamated Bank and appears to be hewing to a $1 million-per-month installment schedule now. “While we work to retire our debt, we’re not taking our foot off the pedal and are making the investments that will help ensure that Democrats are successful in 2014, 2016, and beyond,” Czin said. He pointed to ongoing work by the DNC’s National Finance Committee, which met over the weekend in Colorado to discuss fundraising strategy.
Sources close to the DNC say officials there have quietly laid the blame in part on the White House.
Why is this not a big deal?
Because all the liberal non-profits are well funded, and when it’s go time, they’ll be the ones firing shots at Republicans with sniper precision.
The political landscape doesn’t need a well funded party anymore. Donors know this, which is why parties are having a hard time making ends meet.
If only they could just loot the taxpayer like their Dear Leader does…