DCCC: Debt Could Consume Campaigns
A Washington Republican points out to me that one of the big narratives throughout the 2008 cycle was the National Republican Congressional Committee, tasked with chipping away at the Democrats’ 40-seat margin in the House, could not possibly compete or go on offense because of its then-dire financial position. Obviously, we know how that turned out.
He notes that the end-of-year reports show that the DCCC is in a financially worse position in January 2011 than the NRCC was in January of 2007.
In 2006, the DCCC had $9.3 million in debt and roughly $776,000 in cash on hand, while the NRCC had $14.4 million in debt and roughly $1.4 million on hand.
At the beginning of this year, the NRCC has $10.5 million in debt and $2.5 million in cash on hand. The DCCC has $805,000 cash on hand and an astounding $19 million in debt.