Feb 3 2011

Party Committees Burdened With Debt Heading into 2012

One measure of the intensity of the 2010 midterm election is that all of the major party organizations enter the next two years burdened with millions of dollars in debt even as they ramp up for presidential-year campaigns.

The Republican National Committee chairman, Reince Priebus, officially acknowledged the bad news in a letter to supporters Monday, saying that his organization is saddled with more than $23 million in debt and less than $750,000 in cash on hand.

“We have our work cut out for us, but I am confident we will succeed in turning around the R.N.C. through hard work, transparency and honesty with our hardworking grass-roots activists and donors,” said Mr. Priebus, who recently succeeded the former chairman Michael Steele to lead the Republican Party.

The National Republican Campaign Committee, which oversees Republican House races, was $10.5 million in debt at the end of last year. The National Republican Senatorial Committee, which supports Republican Senate candidates, ended the year with $6.5 million in debt.

The Democratic National Committee ended up in a better position than their counterparts. They start the year with $16 million of debt but $6 million in cash on hand.

But the two Democratic committees aimed at supporting their candidates in the House and Senate also have to pay off significant debts as they begin the 2012 campaign cycle.

The Democratic Congressional Campaign Committee has $19 million in debts after trying unsuccessfully to defend their majority in the House last year. The Democratic Senatorial Campaign Committee ended with $8.8 million in debts after succeeding in preventing a Republican takeover in the Senate.

The end-of-the-year finances for the political groups were reported to the Federal Election Commission at the end of January. Representatives from both sides sought to spin the results in their favor.

“One of the reasons we were able to beat back the Republican wave last cycle is because we outraised the other side,” said Guy Cecil, the executive director of the D.S.C.C. “Despite Republicans enjoying national momentum, we were able to amass the resources needed to wage aggressive campaigns in targeted states.”

Rob Jesmer, the executive director of the N.R.S.C. pointed out that his group came much closer to matching Democratic fund-raising in 2010 than they did in 2008.

“It’s amusing, to say the least, to see Senate Democrats cite their fund-raising as the reason they only lost seven seats when their previous fund-raising advantage was eroded by $57 million in the 2010 cycle, despite having far more senators and the fund-raiser-in-chief in the White House,” Mr. Jesmer said.

View the original article here

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.


Nov 9 2010

Minnesota Governor’s Race Could Be Heading for Recount

Six days after the election, no winner has been declared in the race for governor of Minnesota, even though the Democratic candidate, Mark Dayton, was leading his Republican opponent, Tom Emmer, by 8,751 votes on Monday. Under Minnesota law, an automatic recount must be conducted at public expense if the margin of victory is less [...]


Sep 8 2010

Bill Clinton Heading to Ohio Again for Embattled Gov. Ted Strickland

Former President Bill Clinton is returning to Ohio Tuesday to campaign and raise money for the re-election of his friend, Democratic Gov. Ted Strickland, who is in a tough race against former Rep. John Kasich in a state hard hit by the recession. Clinton and Strickland go back to the governor’s days a decade ago [...]


Jul 23 2010

Biden Heading to Grand Canyon, Yellowstone to Talk Up Stimulus

Pretty good duty for the vice president: Joe Biden is headed west early next week, visiting Yellowstone National Park and the Grand Canyon to highlight how government stimulus money is improving conditions at two of America’s most beautiful, and visited, public places. A relatively small share, about $25 million, of Recovery Act money is going [...]


Jul 22 2010

Michelle Obama Heading to Mississippi to Christen Coast Guard Cutter

Michelle Obama will visit Mississippi on Friday, when she’ll christen a Coast Guard cutter named after a female officer and talk to personnel working on the BP oil spill disaster. This is Mrs. Obama’s second trip to the Gulf Coast; in July she traveled to Panama City Beach, Fla. — where she stood on a [...]


Jul 15 2010

First Family Heading to Maine, Likely to Martha’s Vineyard for Vacations

In the wake of the BP oil spill, both President Obama and First Lady Michelle have made separate trips to Florida to encourage tourists to visit — with Mrs. Obama delivering a speech Tuesday on a still pristine beach. For their own vacations, the First Family heads to Maine for the weekend and is likely [...]