The Democratic National Committee is once again in financial distress, and it could have a big impact on the 2020 election according to Bloomberg. In the first four months of 2019, the party outspent its contributions – tacking on $3 million in new debt as donor enthusaism has all but dried up.
“It’s trouble, it’s going to affect us,” said Cincinnati-based Democratic bundler Allan Berliant, who says the party needs to open offices nationwide and get people mobilized.
“All of that starts with fundraising,” Berliant added.
By the end of April, the DNC had collected contributions of more than $24.4 million, but had spent $28.4 million, according to the latest disclosures. It had $7.6 million cash on hand, $1 million less than in January. It posted $6.2 million in debt, including bank loans and unpaid invoices to vendors, Federal Election Commission records show.
That compared with the Republican National Committee, which thanks in part to Trump’s non-stop fundraising since winning the White House had $34.7 million in the bank and no debt. It raised nearly $62 million so far this year, two-and-a-half times the DNC’s haul. –Bloomberg
While some Democratic officials blame the hesitant donors on the distracting field of 23 Democrats who are ‘vacuuming up contributors cash,’ a few major donors have pointed to the perception that the party is disorganized, and was significantly harmed byhacked emails released by WikiLeaks which revealed that the DNC was working to help Hillary Clinton defeat Bernie Sanders for the nomination while claiming to be neutral. – READ MORE