22 votes

The DNC Is Broke!

FORTUNE -- There's another budget crisis in Washington, and it's unfolding inside the Democratic party. The Democratic National Committee remains so deeply in the hole from spending in the last election that it is struggling to pay its own vendors.

It is a highly unusual state of affairs for a national party -- especially one that can deploy the President as its fundraiser-in-chief -- and it speaks to the quiet but serious organizational problems the party has yet to address since the last election, obscured in part by the much messier spectacle of GOP infighting.

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."

http://finance.fortune.cnn.com/2013/09/30/dnc-debt-crisis/

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Attention Small Vendors

Never give credit to a political party or campaign committee: they're as bad as film producers and gamblers when it comes to paying their debts.

They get so invested in their own dreams of fame and influence that they keep spending, deluding themselves they're going to make it all back.

What do you think? http://consequeries.com/

Cyril's picture

Forgive my skepticism. :/

Forgive my skepticism. :/

(I can't help but intuit things as BillRow does, below)

I'd say "too good to be true", but, okay, I'd also love to be wrong on this one.

Obviously.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Helicopter Ben to the rescue!

derp

The taxpayers will be forced to bail them out.

Somehow, maybe a new bill, The taxpayers will be forced to bail them out just like all the other special interest groups. The writing is on the wall.

If I disappear from a discussion please forgive me. My 24-7 business requires me to split mid-sentence to serve them. I am not ducking out, I will be back later to catch up.

Broke? LOL

They have unlimited lines of credit, countless favors due and an endless supply of blackmail options. Some people don't need cash to function.

"A vote for the lesser of two evils is a vote to keep things the same", Buckminster Fuller..
A choice for liberty is always a choice for liberty.

One Born Every Minute

It doesn't solve the bad taste they leave behind them. New donors don't want to pay off old debt.

That's why Ron Paul always kept an eagle eye on his campaign spending. Many a campaign has gone into debt and the only way to pay it off was to run again.

What do you think? http://consequeries.com/

Makes Me Wonder

Do you think Democrat insiders had placed bets (on the VIX, bonds, and oil-futures) which did not pan out when the war on Syria failed?

Pity, pity... You would think that Obama & the Clintons would

get out there and fund raise to help the DNC out. After all, didn't they benefit from the DNC. At least the RNC is clearly more responsible when it comes to managing funds. All the more power to us in having a better chance of winning future elections. ( :

A.Hansen

can't uncle Ben

just print it for them?

Oligarchs don't have to pay

Oligarchs don't have to pay bills, do they?

I must be willing to give up what I am in order to become what I will be. Albert Einstein

bigmikedude's picture

LOL When you build your whole voter base on giving free stuff,

welfare, and government handouts to the poor, it doesn't take a rocket scientist to figure out you're pretty much screwed for donations.

They didn't see that coming? LOL