RNC raises $5.2 million, reports $21 million debt
Reince Priebus conducts business after being elected as the new RNC chairman.
March 19th, 2011
02:32 PM ET
12 years ago

RNC raises $5.2 million, reports $21 million debt

Washington (CNN) - The Republican National Committee raised $5.2 million last month, but still is saddled with a debt of more than $21 million from the 2010 midterm elections.

The RNC was able to pay $1 million toward reducing the debt in February, but received an additional $1 million in invoices from 2010 that left its financial position virtually unchanged, according to a report that will be filed this afternoon with the Federal Election Commission. CNN was provided the data prior to the filing.

We've turned the corner," said Sean Spicer, a veteran GOP operative recently hired as the RNC's communications director.

"We are paying the debt down."

New RNC Chairman Reince Priebus has repeatedly stated that his top priority is to pay off the committee's debt and prepare the RNC for the 2012 presidential election. Past Chairman Michael Steele was widely criticized for his stewardship of the committee, particularly his lack of attention to fundraising.

Spicer noted that Priebus has cut the committee's staff and overhead by 35 percent and is reaching out to wealthy Republican contributors.

"Our big donors are coming back into the fold," Spicer said.

The RNC's filing will also show that it has a little more than $2 million in the bank.

Filed under: RNC
soundoff (12 Responses)
  1. a in austin

    It doesn't make any difference if they are in debt – their corporations and pacs will be paying their way. No news here.

    March 19, 2011 02:38 pm at 2:38 pm |
  2. Claudia, Houston, Tx

    Sarah and Todd Palin are committing treason against the U.S. while in India.

    March 19, 2011 02:58 pm at 2:58 pm |
  3. Wire Palladin, S. F.

    I think it is safe to conclude that the republican money raised was mostly from foreign corporations, big oil and businesses, and billionaires.

    March 19, 2011 03:01 pm at 3:01 pm |
  4. Bill

    Of Course!! The party that preaches fiscal repsonsibility is BROKE!!!

    March 19, 2011 03:08 pm at 3:08 pm |
  5. Calm Dog

    Whoa. You mean they spent money they didn't have? Let me repeat that question. The Republicans. Spent money. They didn't have? And added to their debt? No! That didn't happen! That's not how they operate. They told us so. Right? RIGHT??

    March 19, 2011 03:15 pm at 3:15 pm |
  6. Kansas Joe

    I just love saying "Reince Priebus".

    March 19, 2011 03:22 pm at 3:22 pm |
  7. FM

    Good job! What ratio is this one?? 5.2 million raised and 21 million in debts!! It sounds nice in the ears of many eh !! Are these not Republicans who are singing cutting national debts and stop spending, while they can not manage to do so in their own Party!!!

    March 19, 2011 03:31 pm at 3:31 pm |
  8. The Greedy Old Parasites declared war on you!

    Wait; aren't the Greedy Old Parasites supposed to be the party of personal/fiscal responsibility?!?!?

    March 19, 2011 03:34 pm at 3:34 pm |
  9. TOM

    Wow! They left our country in the same financial mess their party is in! Does this tell you something?

    March 19, 2011 03:49 pm at 3:49 pm |
  10. Clwyd

    Their debt is 4 times what they took in! Sound similar to what they are trying to tell us they have the answers to? Hypocrites and all fools!

    March 19, 2011 03:55 pm at 3:55 pm |
  11. Patzilla

    Can someone please explain to me how these parties are allowed to become financially indebted and to whom they are indebted? I think that we have the media means now to be able to allow equal time for each candidate to spout their views without the wasteful extravaganzas and travel expenses except for local candidates. I'm just boggled by the allowances for "debt".

    March 19, 2011 03:58 pm at 3:58 pm |
  12. Okey Moronu

    This probably explains the RNC obsession with giving tax break to those who do not need it. They are counting on that money to be redirected to them. This will enable them they pay off the debt from the midterm elections.

    March 19, 2011 04:23 pm at 4:23 pm |