First on CNN: DNC makes big dent in debt
May 20th, 2014
06:00 AM ET
7 months ago

First on CNN: DNC makes big dent in debt

Washington (CNN) - The Democratic National Committee will announce Tuesday that it raised nearly $9 million last month, and that it's made major strides in reducing its debt.

According to a DNC official, the party committee has paid off all of its bank debt, while it continues to pay off around $7 million it still owes vendors. The DNC's total debt reached a high of $22.5 million following the 2012 elections, and remained around $15 million as recently as three months ago.

The official, who asked to remain anonymous to speak more freely, said in the past four months the party committee has paid off $7 million in bank debt. The official added that the DNC's April report, which will be filed on Tuesday, will show two debt payments totaling nearly $4 million. An additional payment of nearly $2 million will be reported in next month's filing – which the official says will make the DNC free of bank debt.

"With six months until Election Day we're on our best financial footing since before the 2012 Election," the official told CNN.

According to the official, the DNC raised $8.9 million last month, with $7.9 million in the bank, the party committee's best cash on hand figure so far in the 2014 election cycle.

The rival Republican National Committee has yet to release its April fundraising figures. The RNC brought in $10.2 million in March, with $12.3 million cash on hand as of April 1. The RNC has been debt free since June of last year.

The DNC's financial figures are being boosted by President Barack Obama, who this year has stepped up the number of party fundraisers he's headlined.

The DNC's also touting that over the past year, as they've reduced their debt, they've also brought on some top flight staff from the White House, progressive organizations, and the private sector.

CNN Political Research Director Robert Yoon contributed to this story.


Filed under: DNC
soundoff (61 Responses)
  1. Sniffit

    "So, while oil production increased by over 8,000% under Obama (yes, that's a real number), where was all his money to stop it before now."

    Let me correct that, because I misstated it: 8,350% increase in rail shipments of crude since 2006, most of which was under Obama.

    May 20, 2014 12:10 pm at 12:10 pm |
  2. Tommy G

    Sniffit
    Yawn. Just more of the usual from tom: intellectually lazy false equivalence arguments and intellectually dishonest dismissal of substantive arguments from others who consistently show in their posts that they're informed about the issues and the facts underlying policy, not just rooting for a "team
    ---

    BWAHAHAHAHAHA!!!! This is EXACTLY what you do in almost every post you make in here!! Too funny!!!

    May 20, 2014 12:13 pm at 12:13 pm |
  3. land mine

    No, he wants to stop the keystone,, I'm all for that, water us becoming increasingly scarce,now with fracking ruining it in mass quantities, it should be a no brainer, but it will likely go through, too much money involved, regardless of who's in power, they just make an excuse, I had to give in, so we could get this other thing passed, were screwed, and if course what % of a hundred billion do you suppose will end up in the gop superpacs: fighting to eliminate the EPA, dept of agriculture, FDA? You kid yourself if you think you'll not have your rights destroyed under Republican rule.

    May 20, 2014 12:15 pm at 12:15 pm |
  4. Rudy NYC

    tom l wrote:

    I never knew that there was such a thing as 'citizens united denier". What does the Keystone XL pipeline have to do with campaign finance reform?
    ======

    Try to keep up, Rudy. Mallory tried to claim that Tom Steyer was "donating" money to the dems because of Citizens United which is incredibly funny. First, can you see the irony in someone donating 100 million to get rid of CU? Second, Keystone pipeline is why Steyer is "donating" his millions. He has huge investments in alternative energy and wants to stop oil production as much as possible. Not to mention that he's a billionaire (part of the 1%!). He made his money as an investment banker! He's white! This should be the trifecta for the gang. Ahhhh, but he's "donating" money to your side so it's cool. We have been talking about this dude for weeks. Do some research on the guy, Rudy. He has no opinion on CU other than the fact that he is now allowed to do what he is doing.
    -----------------------------------
    Tch, tch, tch. Sorry, tom. I cannot keep up with your Keystone conspiracies. What's the point of it? Do you have any facts to back up your accusations about his motives? As it has been pointed out, he created and donates to a super PAC dedicated to reversing the Citizens United decision. You need to change of scenery, tom. It's called reality.

    May 20, 2014 12:33 pm at 12:33 pm |
  5. Rudy NYC

    Tommy G

    Sniffit
    Yawn. Just more of the usual from tom: intellectually lazy false equivalence arguments and intellectually dishonest dismissal of substantive arguments from others who consistently show in their posts that they're informed about the issues and the facts underlying policy, not just rooting for a "team
    -

    BWAHAHAHAHAHA!!!! This is EXACTLY what you do in almost every post you make in here!! Too funny!!!
    ===================================================================================
    Like too many people on the right. you do not distinguish between concrete facts and personal opinions.

    May 20, 2014 12:45 pm at 12:45 pm |
  6. TONE

    Chris-E...al

    Dems just hate job producers and seem to be delicate on accomplishments and dont even understand economics even on a 7th grade level . If left up to them they would tax them right 0ut of business tomorrow . And lose good jobs .

    I thought the rich had ample time to creat jobs under bush with the same tired old played out policies tax break to the wealthy, and they have created jobs but not in America but china, and india, can you call your congressman and ask him to put an infrastructure bill on the floor, that will create jobs.

    May 20, 2014 01:14 pm at 1:14 pm |
  7. truth hurts but reality bites

    The DNC's financial figures are being boosted by President Barack Obama, who this year has stepped up the number of party fundraisers he's headlined.
    ---

    I didn't think it was possible for Obama to do more campaign fund raising than he was already doing. Nice to see is taking care of what is really, really important while our veterans are denied medical care by the VA. And to make matters worse, all of this record campaign fund raising by Obama is being paid for by the USA taxpayer. So we foot the bill, while Democrats take in millions and vets do without. Yup, things are going great in this country.

    May 20, 2014 01:21 pm at 1:21 pm |
  8. i'll say this about that

    Democrats & Debt, like peas & carrots, just go together. Like peas in a pod. Like Batman & Robin. Like The Lone Ranger and Tonto. They think they continue to tax, borrow and spend forever, until we have $100 trillion in debt and they take every penny you make to pay the interest costs. It has worked out so well for Greece they want to do it here.

    May 20, 2014 02:12 pm at 2:12 pm |
  9. bobo

    "Impeach Obama Movement Gains Speed With New Book On His 'Lawlessness'"

    May 20, 2014 02:17 pm at 2:17 pm |
  10. Reggie53

    The only thing Obama seems to like doing is fundraising. Why did we have to elect him to be the Chief Fundraiser? He could have been handed that job by the democrats without us having to put up with such a lousy individual who is trying to be president for the past 5 1/2 years. I hope we Americans have learnt our lesson from this failed experiment. Time to elect a qualified candidate who knows what they are doing.

    May 20, 2014 02:22 pm at 2:22 pm |
  11. land mine

    Truth, boo hoo, your preaching to the choir, the gop has been campaigning on my dime for years, 50 repeal votes, never ending benghazi, IRS, and how close did any of it come to the president? Money well spent if your indifferent about the cost of the gop campaign machine.

    May 20, 2014 02:34 pm at 2:34 pm |
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