The Democratic National Committee spent $16.9 million this past October, ending the month with $18.3 million in cash. Of that amount, $15 million is from a loan they recently took out to keep the operation afloat. In comparison, the RNC ended the month with $86 million in cash, none of it from loans.
The DNC Is in a Financial Meltdown, and It Could Cost Democrats Big – PJ Media
The Democratic National Committee borrowed $15 million in October, according to Federal Election Commission filings, an unusually hefty sum to take on this far out from any major election. When your party ends the month with $18.3 million in cash on hand, and $15 million of it came from a loan, you’re not exactly working from a position of strength. That’s a bleak scenario.
Martin insists the gamble is already paying dividends. “We can’t win elections or fight back against Trump if the DNC downsizes operations like it often does after a presidential cycle,” he said in a statement. “I made a bet that investing early would build power, rack up wins and rally supporters back to the table. That bet is paying off.” Sure, Democrats managed to win races in New Jersey and Virginia, but those are blue states. Imagine having to take out millions in loans to win elections in blue states.