RNC Finances Back in Black After $7.2M Raised in November

The Republican National Committee is in the black for the first time in about a year. The RNC pulled in $7.2 million in November and now has $14.1 million in the bank and $13.4 million in debt, The Washington Post reported.

The last time the RNC's bank balance exceeded its debt load was in August 2010. Under the leadership of former Chairman Michael Steele, a number of major donors shut their checkbooks and the RNC was more than $20 million in debt.

“Heading into 2012, the RNC will be operating from a position of significant fiscal strength,” Chairman Reince Priebus said, according to the Post. “The combination of Republican voters’ enthusiasm and the RNC’s robust fundraising makes me confident that we have a winning year ahead of us.”

The Democratic National Committee raised $6.7 million last month, and has $10.5 million in the bank and $7.8 million in debt, the Post reported.