The Democratic Party is broke—and, to make matters worse, just had its second-worst August fundraising numbers in years.
According to the Democratic National Committee’s filing with the FEC, the party raised just $4.4 million in August. The small figure means that the party was forced to take on more debt—increasing their debt load from $3.4 million to $4.1 million in just one month. Also, the party has only about $7 million cash on hand.
To make matters worse, DNC chair Tom Perez had previously bragged that August would be the month when the DNC started to turn around their fundraising numbers—explaining that the party’s fundraising team was now ten times bigger than it was back in January. However, regardless of the size of the staff, the new leaf Perez promised for August apparently didn’t happen.
The Republican Party, meanwhile, continues to pull far ahead in the money race. The Republican National Committee raised $7.3 million in August. It has a staggering $45.9 million in cash on hand and no debt.
The liberal left has some on-the-ground momentum—but the money game shows the party should be alarmed if they want to compete in 2018.
AAN Staff
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