RNC brings down debt, raises millions
June 20th, 2011
10:14 AM ET
8 years ago

RNC brings down debt, raises millions

(CNN) - The Republican National Committee raked in $6.2 million in May, bringing their total in 2011 to $30 million, according to an RNC report Monday.

Since Reince Priebus was elected chairman in January, the RNC has retired over $6 million in debt and currently has $6 million cash on hand. Priebus took the reigns from Michael Steele, inheriting more than $24 million in debt from the 2010 election cycle, which decreased to $18.5 million by the end of May.

"We are continuing to put this committee in the best possible position to be a partner to our nominee and ensure Barack Obama is a one-term president," Priebus said in a statement. "We will have the resources to turn back the failed leadership of Barack Obama and return a Republican majority to the U.S. Senate in 2012."

The Democratic National Committee has not released their May fundraising numbers.

Filed under: Reince Priebus • RNC
soundoff (13 Responses)
  1. Sebastian

    This article attempts to contrast the balance sheet of the RNC under Steele with that under Priebus. It then tries to have the reader infer that financially, the organization is better now because of lower debt and this is a proxy for better management.

    I'm hardly one to defend Steele but I would expect that with a pending presidential election AND the GOP's emphasis on defeating Obama at all costs [something they have been instigating since February of 2009], I would expect more money to be coming in now than compared to Steele's tenure.

    Also, it seems the proper comparison is with what was happening 4 yeas ago given election cycles.

    June 20, 2011 10:29 am at 10:29 am |
  2. Excoastie

    Did the RNC do this by reducing their membership fees or increasing their revenue stream?

    June 20, 2011 10:30 am at 10:30 am |
  3. GI Joe

    Corporations will hand out a lot to their buddies to get them in power - tax cuts and loopholes will more than pay them back for their investment.

    It's a shame it's come down to god, guns, gays, and greenbacks. No way for "we the people" to be taken seriously.

    June 20, 2011 10:39 am at 10:39 am |
  4. Rudy NYC

    Priebus took the reigns from Michael Steele, inheriting more than $24 million in debt from the 2010 election cycle, which decreased to $18.5 million by the end of May.
    They are knocking off roughly one million per month. At that rate the RNC will clear all of its' debt just in time for Obama's 2013 State of the Union speech.

    June 20, 2011 10:40 am at 10:40 am |
  5. Dean,co

    Hey, "Looks like Gop will have another lose with millions in debt @ Christmas 2012 also! Sorry! Obama 2012

    June 20, 2011 10:41 am at 10:41 am |
  6. Rudy NYC

    They cut costs and wasteful spending. No more lunches at those, ah, liberal clubs.

    June 20, 2011 10:57 am at 10:57 am |
  7. Dave

    LOL! The GOP constantly talks about how they will take care of the national debt and they can't even keep their own house in order. Typical right-wing blowhards...

    June 20, 2011 10:58 am at 10:58 am |
  8. rs

    It really is pretty funny that the party that thinks they can re-cast themselves as economic conservatives is still technically broke. Very little of their support comes from real people, and most comes from big business. If it weren't for corporate cash, the Republican Party would have long since gone the way of the Know Nothing Party.

    So much for representing the needs of "real Americans".

    June 20, 2011 10:58 am at 10:58 am |
  9. 1nd3p3nd3nt

    i don't suppose the political parties would donate this money to help balance the national debt?

    June 20, 2011 11:00 am at 11:00 am |
  10. Publius Novus

    Time to cuts costs Republicans! Your orgainzation is insolvent and should file for chap. 7. Responsible fiscal management requires no less.

    June 20, 2011 11:06 am at 11:06 am |
  11. teena

    Let me see if I have this correct? The republicans campaign on less spending to balance the budget not raising taxes for increased revenue.
    But to get their own house in order, they have to raise REVENUE NOT CUT SPENDING? Incredible and just another indication of the hypocrisy of this bunch! Oh and thye are still in the RED!

    June 20, 2011 11:53 am at 11:53 am |
  12. Kenny

    The GOP is forever talking about how we must decrease the size of government, cut spending and taxes to pay down our National Debt. I'm curious. Did the RNC cut the number of employees on their payroll and reduce the amount of donations coming in to their organization to pay down their debt?

    It's a Republican proven fact that if you want to pay off a debt in business or your family, you should reduce your income and cut back on the number of family members you have. By reducing your income, you can use the added income to pay off debt.

    June 20, 2011 11:58 am at 11:58 am |
  13. Ray E. Georgia

    With the Economy going in the tank over the last 4 years when the democrats took back the congress money was in short supply. The Liberal's and Dumbocrats, who gave us the "Everybody gets a house even if they can't afford it" syndrome was a complete failure and so the money dried up. But have no fear, in 30 years or so your economic situation should look up! And if you have a job, thank a republician, if you have a nice place to work, thank a republician. If you have a good road to drive on, thank a republician. if you have electric in your house, thank a republician, if you have gas when you need to fill up your car, thank a republician!

    June 20, 2011 12:01 pm at 12:01 pm |