Just as the 2016 campaign is starting to take shape, the Democrats find themselves completely broke and deep in debt.
FOX News reports:
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DNC deep in debt as RNC builds up $20 million war chest
The Republican National Committee keeps building its cash advantage over its Democratic rivals, strengthening the party’s position going into the election year – with the latest monthly reports showing the DNC with a major debt, while the RNC has accrued a $20M war chest.
The Republicans announced last week that they had raised $8.7 million in October, which they say broke a record for presidential off-year fundraising record.
“With just under a year until Election Day 2016 we’re seeing great enthusiasm for the GOP,” RNC Chairman Reince Priebus said in a press release.
Figures show the Republicans now have over $20 million cash on hand, with only $1.8 million in debts owed. The RNC has raised a total of $89.3 million to date in the current election cycle.
The figures stand in stark contrast to the DNC, that has only $4.7 million cash in hand, with $6.9 million in debts owed, putting the DNC in the red, according to FEC figures. According to the Center for Responsive Politics, the Democrats have so far raised $53.2 million this election cycle, significantly less than their Republican counterparts.
That’s no guarantee of a win for Republicans but it’s very bad news for Dems.