Worst RNC cash flow in a decade

[kpete]

Source: The Hill


Worst RNC cash flow in a decade
By Aaron Blake - 01/06/10 06:00 AM ET

A 2009 spending spree has left the Republican National Committee (RNC) with its worst election-year cash flow this decade.

The largest GOP party committee has $8.7 million in the bank heading into an election year with 37 governors’ races, a dozen major Senate contests, dozens more in the House and an all-important redistricting cycle on the horizon.

Said one RNC official: “It is very troubling, and the thing is, most people don’t understand this. But it is really troubling.”

The RNC had $22.8 million in cash and no debt when Michael Steele was elected chairman at the end of January, but has since seen its cash on hand drop to less than $9 million at the end of November.

Over the previous five months, while governors’ battles were being waged in New Jersey and Virginia, the committee saw its cash reserves drop by a full $15 million. Through November, the committee spent more than $90 million last year, which is nearly $20 million more than the Democratic National Committee (DNC).

Read more: http://thehill.com/homenews/campaign/74507-worst-rnc-cash-flow-in-a-decade

[stray cat]

1. I assume funds are going to tea party groups and candidates

[mbperrin]

2. Damn shame.

NOT!

:)

[liberal N proud]

3. Maybe they can ask Rick Warren for some help

He seems to be raking in the cash

[ChairmanAgnostic]

4. the problem is the MSM. they give free promos and stories to

their friends in the GOP.

[TheWraith]

5. Kicked and recommended. nt

[DJ13]

6. I doubt it will be much better with the DNC

People are fed up with both party's right now.

[proudohioan]

8. I must agree with you there.

[Kolesar]

9. Speak for yourself

The Democratic Party has been moving in the right direction for many years now. Even the Ohio party is getting its "act" together.

[proud2BlibKansan]

16. Just the opposite in Kansas

Our state party is in crisis mode.

[proudohioan]

19. Actually, the Ohio party is one of the bright spots. My bad.

[Tempest]

12. Actually, the DNC is in fine shape

They just had one of their best fundraising quarters in years.

[DJ13]

14. Was the money from individuals...... or corporations?

[diamidue]

25. good question. n/t

[Warpy]

13. I think so, too. I think the DCCC will be strapped for cash

I also think disgusted Democrats will be more like me and give to individual candidates they feel respect the views of the majority in this country instead of to a party slush fund to go to candidates like Nelson and Bayh who don't.

Money's tight this year and people are spending a little more wisely.

[proud2BlibKansan]

15. I was going to ask how this compares to the DNC bank account

[formercia]

7. ...and Junior still won the election in 2000

go figure.

[tanyev]

10. Michael Steele, best RNC chairman evah!

[Old and In the Way]

18. No better person to lead the RNC, IMHO.

I'm seriously thinking this guy is taking the GOP for a ride. I know many here think he's an idiot, but I think he's conning the cons. He's got a lot of 'pubes going ballistic with his handling of Party finances and every time he opens his mouth, he manages to make the GOP look more idiotic and irrelevant.

So why is he still chairman? I think they can't get rid of him without a hi-profile legal fight. I'm betting he's holding out for a big pay-off and, if they try to shitcan him, he'll sue them for...wait for it....violations of his civil rights. Can you visualize the circus that he could create if he takes them to court? Think of all the dirty, dark secrets just waiting for a little sunlight.

[NJCher]

20. wow--interesting theory

You could really have something here.


Cher

[VaYallaDawg]

22. I agree with cher, very interesting scenario you describe, and

it sure sounds mighty possible.

[cowcommander]

23. I've seen conservatives call Steele a DNC mole

Who knows...might actually be true.

[DarthDem]

24. Great Theory

I love it. Excellent stuff. And you might just be right!!

[Plucketeer]

28. What a theory! And considering the points you've made -

it doesn't sound all that implausible! I've been wondering out loud for months, how the HELL he holds onto that job! Surely SOMEONE in the GOP can see the sheer lunacy of Steele's "leadership"! He makes the wizard of OZ look right brainy!

[TlalocW]

11. Yet, all I hear is how the democrats are in trouble

Huh.

TlalocW

[FarLeftFist]

17. Someone should tell fox "news"....

In the House, 14 GOP incumbents have decided not to seek re-election, while 10 Democratic incumbents have made the same announcement.
In the Senate, six Republican incumbents have decided not to seek re-election, while two Democratic incumbents have made the same announcement. Is this really evidence of a mass Democratic exodus?

[Jamastiene]

21. That because nobody has any money left.

Everybody is broke. It is going to hit our party next unless we can get the jobs thing going.

[4_TN_TITANS]

26. You nailed it...

The party that can put people back to work, where they have a little disposable income on hand, will be the party that benefits from contributions. Sad how our politics is money-driven.

[tclambert]

27. Yeah, we need to change how campaigning is done somehow, some way.

How about if we get both candidates for an office roaring drunk and see who does the worst Mel Gibson impression? In vino veritas!

[JoeyT]

29. I wonder

how much of it is because mega-corps see no need to give pots of money to the Republicans anymore?
You can't get much more friendly to them than we are now. A bright spot, I suppose.

[robo50]

30. Thanks for this encouraging news! I really hope Steele makes them

go completely BROKE by Nov 2010

[City Lights]

31. Oh noes!

:rofl: