RNC Has Just $5 Million on Hand
Politico is reporting that, with just three months to go before the November elections, the RNC has only $5 million on hand:
The troubled Republican National Committee has just over $5 million in the bank for the final stretch of the 2010 mid-term election campaign, according to an unannounced filing with the FEC disclosed Friday night.
The report also indicates that the national party headed by embattled chairman Michael Steele is carrying just over $2 million in debt.
There was no press release from the RNC attempting to put a positive spin on the grim numbers. Rather, officials from the Democratic National Committee flagged the RNC's report, which was posted on the Federal Election Commission’s website Friday night.
It indicated that the committee brought in slightly more than $5.5 million in July — less than half of what the DNC raised — while spending $11 million.
The RNC's money woes have many party leaders and operatives deeply worried about whether the GOP will be able to take full advantage of an otherwise promising election cycle. Of most concern are get-out- the-vote activities that are typically funded by the national committee. While the RNC OK’d a $10 million line-of-credit at its meeting earlier this month, that will still be insufficient to fund the sort of voter contact efforts needed across the House, Senate, gubernatorial and local races this year. Senior Republicans are expecting newly-created third-party groups such as American Crossroads to step in and assist with the ground game.
The DNC released its July fundraising numbers earlier this week, reporting that it had just over $10.8 million on hand while also carrying $3.5 million in debt.
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