Tags: | debt | DSCC | senate | 2014 midterms

Dems Senate Campaign Chest $20.4M in Debt After Midterms

By    |   Wednesday, 10 Dec 2014 08:03 AM

The Democratic Senatorial Campaign Committee is $20.4 million in debt coming off the disastrous midterm elections for the party, Politico reported.

Being so far in arrears may help explain why the committee did not invest in the Dec. 6 Louisiana runoff in which Sen. Mary Landrieu lost her seat.

The Democrats borrowed a total of $15 million in last-ditch efforts to stave off losing their Senate majority in the midterms. Though they took a trouncing at the ballot, the party raised more money than the National Republican Senatorial Committee in the 2014 cycle, according to Politico.

The Democratic campaign committee also borrowed $5.2 million to purchase Mott House, next to its headquarters on Capitol Hill. It had been renting the structure for over a decade.

"The DSCC outraised the NRSC last cycle by $41 million, bringing in $166.7 million for the cycle," according to Democratic spokesman Justin Barasky. "We begin the cycle with $15 million in operations debt, $1 million less than we started the 2014 cycle with, and will have the resources we need to take back the majority in 2016," Politico reported.

The Republican Senate campaign committee said it was $9 million in debt and had $3 million in the bank. Democrats reported $2.2 million cash on hand.

As the majority party, it will probably be easier for the Republicans to raise campaign money. At the same time, President Barack Obama could almost certainly help the Democrats dig out of their debt with a series of fundraisers, Politico reported.

© 2017 Newsmax. All rights reserved.

   
1Like our page
2Share
Politics
The Democratic Senatorial Campaign Committee is $20.4 million in debt coming off the disastrous midterm elections for the party, Politico reported.
debt, DSCC, senate, 2014 midterms
251
2014-03-10
Wednesday, 10 Dec 2014 08:03 AM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved