FEC Report Shows DNC Is Nearly Insolvent

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Posted: Sep 21, 2018 11:00 AM
FEC Report Shows DNC Is Nearly Insolvent

The Democratic National Committee is nearly insolvent, according to the most recent FEC report.

As of August 31, the DNC had $7.89 million cash on hand, which is only slightly higher than its debt of $7.01 million.

If one adjusts for this debt, the DNC has a paltry $973,000 cash on hand, putting the Republican National Committee in a far greater position financially, with $41.75 million cash on hand, or 43 times as much money as its political counterpart.

On Thursday, Townhall reported that the RNC again broke fundraising records by bringing in $16.4 million in August, and more than $252 million this cycle.

"RNC Chairwoman Ronna McDaniel is well aware of the odds that face the party that holds the White House, so in January of 2017, she challenged her team and her party to put themselves in a position to defy them," an RNC official told Townhall. "As of today, they have met their $250B investment goal, put in place the largest data and field program in the party’s history and are ready to #DefyHistory on November 6th."

The RNC is even in a better financial position than it was at this same point in 2016.

"With less than 50 days until the midterm elections we have built the largest ground game ever,” said RNC Chairwoman Ronna McDaniel, who explained the fundraising records could be attributed, in part, to enthusiasm for President Trump and his agenda.

“Historically, the House is always in jeopardy in that first midterm of a sitting president,” RNC Chairwoman Ronna Romney McDaniel recently told Fox News’s Bill Hemmer. “So we haven't taken anything for granted, that's why the RNC has raised $250 million, that’s why we're in 28 states with over 20,000 field organizers. In Nevada alone we've made a million voter contacts, which is more than we did in 2016 because we have to keep the House if we're going to keep these gains for the American people: higher wages, jobs coming back. Our country is on the right track. We don't want to reverse course.”

This post has been updated.