Broke And Bleeding Cash, DNC Ends June $3.3 Million In Debt

Tyler Durden's picture

After spending a truly obscene amount of money on the Georgia special election last month, money that was proven to be completely wasted after Jon Ossoff was destroyed by Karen Handel, the DNC's balance sheet is looking a little deflated.  Of course, spending $22 million dollars for a seat where candidates usually spend about $1 million each tends to take a toll on your political war chest.

GA

 

Unfortunately, even $176 per vote, or roughly 7.6x more than what Karen Handel spent, wasn't enough to buy a Georgia House seat.  Oops.

GA

 

And while we're sure that the new DNC Chair would love to forget all about that Georgia race, as the Federal Election Commission's June financial reports reveal, his deflated balance sheet, which included only $7.5mm of cash and $3.3mm of debt, serves as a constant reminder of the wasted money that he'd undoubtedly love to get back.

 

As The Observer reported last month, this is hardly a new phenomenon for the DNC as May 2017 was the worst fundraising month since the Iraq War in 2003.

DNC Chair Tom Perez recently sent out a fundraising email to supporters claiming, “I know garbage when I see it,” citing that he once worked on a dump truck. It’s ironic that he referred to the GOP health care bill as a “flaming dumpster fire” because he has been presiding over the disaster that is the Democratic National Committee. The organization reported that May 2017 was its worst fundraising month since the Iraq War in 2003, and April 2017 was its worst fundraising month since 2009. In May, the DNC also reported that it has $1.9 million in debt. Despite the fact that former Secretary of Labor Tom Perez was recruited by Barack Obama to appease the party’s donors, lobbyists and PACs, even they have refused to prop up the failing brand.

 

Not approving of the strategies laid out at a retreat for donors in January 2017, billionaires Mark Pincus and Reid Hoffman started their own political organization, Win the Future. As donors are increasingly tired of seeing their investments go to waste, many have started their own funds or used their access to take over leadership positions themselves—such as Florida billionaire donor Stephen Bittel did to become the Florida Democratic Party chair earlier this year. Democratic billionaire J.B. Pritzker is running for governor of Illinois, and billionaire Tom Steyer is debating running for governor of California. Haim Saban and James Simons poured millions into Hillary Clinton’s presidential campaign, but they have yet to be listed by the FEC as DNC donors in 2017. Additionally, George Soros has only given $33,900 to the DNC in 2017, but he poured millions of dollars into the Democratic Party in 2016.

By contrast, as The Hill notes, June was a record breaking fundraising month for the RNC bringing their YTD haul to over $75 million, or roughly double what the DNC has managed to raise so far in 2017.

The Republican National Committee (RNC) raised a record $13.4 million in June, bringing its total 2017 fundraising to $75.3 million.

 

In a release provided first to The Hill, the RNC announced another strong monthly haul and has $44.7 million in the bank. It’s the most the RNC has raised in June of a nonpresidential year.

 

RNC Chairwoman Ronna Romney McDaniel credited the record fundraising to the committee’s “loyal network of grassroots donors” due to their support for President Trump and the GOP’s agenda.

 

“Because of the generous contributions, the RNC will continue to promote conservative values while bolstering our efforts to support, defend, and elect more Republicans,” McDaniel said in a statement.

So what makes up the DNC's $3.3 million debt balance?  Well, it consists of a $1 million bank loan and roughly $2 million of overdue bills primarily due to telemarketers. 

Ironically, of all the vendors that the DNC apparently can't afford to pay on a timely basis, one of the few that actually has a zero balance is their paper shredding company...

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Dormouse's picture

But resist we much. We must, and we will much—about that—be committed.

Billy the Poet's picture

Trump is doing to the Democrats what Reagan did to the Soviet Union. And he gave McCain cancer.

Ms. Erable's picture

The Dims are finally as bankrupt as their ideas? Quelle surprise.

GUS100CORRINA's picture

Broke And Bleeding Cash, DNC Ends June $3.3 Million In Debt

My response: May the DEMOCRATIC PARTY R.I.P. in HELL!!! These people are not only bankrupt on ideas, they are bankrupt with it comes to MORALITY, ETHICS, CHARACTER, CONVERSATION and CONDUCT!!!

Chupacabra-322's picture

@ GUS,

All of the anger and violence that we have seen lately has greatly tainted the Democratic Party.

The Democrats have become the party of Kathy Griffin.

The Democrats have become the party of Antifa and mock Trump assassinations.
And the Democrats have become the party of James Hodgkinson.

U.S. Representative Tim Ryan was right on the ball when he admitted that his party’s brand has now become “toxic” in much of the nation…

SoilMyselfRotten's picture

Their bankbook finally caught up to their morals

PT's picture

$7.5 M cash, $3.3 M debt.  They're still $4.2 M ahead aren't they?  And they still got plenty of time to save up for the next election, don't they?

How much are their on-goings again?

overbet's picture

Not to worry, Soros will Refill the coffers as needed.

PT's picture

Chicken feed to the Clinton Foundation.  I'm sure they'll find a way.

jcaz's picture

Hey, Maxine Waters generated about $12 so far this year (after she gets done paying her daughter for her "services"), so they'll be ok.......

nmewn's picture

The DNC 's 3.3 million debt will be drop in the bucket should the lawsuit by dim donors for Burnie Marx prevail in court...that one is 300 million!...lol.

But I'm sure Hillary can scrounge around in the seat cushions of the Clinton Foundation and come up with that much...easy ;-)

PrayingMantis's picture

... they're so broke, they can't even pay attention...

;)

Archibald Buttle's picture

janet will print it for 'em. they're in the government, they'll be good for it.

jeff montanye's picture

but while they are a bit on the ropes (and the neocons are climbing on, ignoring the fact that the bulkheads don't go to the ceiling), president trump should open up the question of why and how did the dnc prevent both the fbi and mueller's special counsel inquiry from looking at the dnc's data servers from which the notorious emails were taken, possibly by russian hackers, possibly by seth rich, possibly by guccifer 2.0 (someone in the dnc other than rich).  and then get a brave and honest prosecutor to finally serve a search warrant on the dnc to look at the evidence that started this "russian hacking of the u.s. election" scam in the first place.  even realizing they may have been wiped like with a cloth.

after that possibly a little attention to mr. rich and his murder, again starting with why was there no investigation by the fbi or mueller.

max2205's picture

No worries congress will pass a funding bill that gives each party 50 mill each every year.  Maybe instead of fucking fund raising they can do some fucking WORK!

TeamDepends's picture

Perez, Pelosi, Clinton, Wasserman-Schulz, Watters, Mochahantas, Pedosta: what's not to like?

38BWD22's picture

 

 

Indeed, what sane inevstors would put money on Team-D?  Oh, wait, not all the rich are smart or sane...

The Democrats are out of their own money?  "My heart weeps like a hawk."  

;-)

blown income's picture

Mama said , and, money can NEVER buy style,taste,or class...

 

True to the day

 

Things that go bump's picture

Talk about grasping at straws - I don't undersstand why they think they can buy seats in Congress or the Senate by throwing money into advertising to people who have already made up their minds. I imagine they spent $176 per vote for people who were already planning on voting for their candidate. 

drendebe10's picture

Haha. Fukemall. Progressive liberal democraps are the meanest nastiest hypocrite intolerant divisive turds on the face of the earth Fukemall

tmosley's picture

The Democratic Party is done. Come 2020, they will be a regional party AT BEST. They might not exist at all. Hopefully they do, so the liberals can remain divided and ineffectual for the next 30+ years as they fight among themselves.

dchang0's picture

As much as I'd like to see the Democrats collapse completely, I don't believe they will fail.

We should remember that the Democrats thought they were untouchable throughout the Obama terms. They forgot that the political pendulum swings back and forth eventually (take a look at the socialists in Venezuela--they're finding out the hard way that their one-party rule is coming to an end).

I say the Republicans should be extra cautious and avoid the same level of overconfidence, especially going into 2020's POTUS election. The Democrats could snap back with a ton of donations if another messiah like Obama arose or if Trump messes up really badly.

Yes, the Dems are down by over 1000 local and state seats and all that, but unless a third party comes up to replace the Democrats by co-opting their voter base, they'll still be alive and kicking. In other words, the two party system won't die.

armageddon addahere's picture

Maybe it's time for the Whigs to make a comeback.

iamerican4's picture

The founding anti-pedo, anti-homo, anti-papist "whigs," not the papist-front Fifth Column Whigs of the 1830's - who filched the name to dupe the People.

Overfed's picture

And yet the Republicans are still a bunch of spineless worms who can't get their shit together and repeal ACA outright.

38BWD22's picture

 

 

Yes, the R-Team should take nothing for granted, especially because they have turned out to be cowardly and inept.  A bad combination.

drendebe10's picture

The elected corrupt do nothing republicant turds are imbeciles. They already have blown it with all their petty self centerwd squabling led by two moronic turda ryab and mcconnell. Fukem

Things that go bump's picture

When their turn comes around again they might be sorry for their current behavior, as what, besides good sportsmanship, is to prevent the losing side from going on a tantrum as impressive and counter productive as the one they are treating us to now?

Milton Keynes's picture

The Clintons managed to destroy them...

That NeoLiberal, triangulating style.

Anunnaki's picture

Dems Will be reduced to the Party of mayors

dark pools of soros's picture

Democrats have to purge the globalist and regroup under Tulsi by attacking the deep state directly dont even say they are against Trump. tell him thank you but now we have are sights squarely on the devils

Billy the Poet's picture

Tulsi Gabbard is the only real hope the Democrats have to regain their honor. And she has a vagina. Better grab her.

Archibald Buttle's picture

careful there, she's on the CFR. not some run of the mill social climber.

BetterRalph's picture

Watch out for Kamala Harris attempt for POTUS!
I seen she is connected to Podesta emails.

AMPALANCE's picture

They are going to try to appeal to middle class working voters, you know the ones they depised and call racist deplorables. But they will not leave behind identity politics or illegal alien voters, so they will continue along on their losing streak. Trump won because of 2 words immigration and wall.

FreedomWriter's picture

One small problem with that theory is that DemRep Make-Armerica-Fail (MAF) policies have killed off the middle class.

Most became P-O'd, deplorable Trump voters who want jobs and lives again.

RINOs will soon become an endangered species and poaching will be made legal.

Fortunately, globalist, foreign-sponsored thugs, illegal immigrants and welfare recipients don't vote much and so won't be sending any DNC donations.

I think what we have here is another failed election strategy.  Not even globalist billionaires want to be associated with the Dems anymore. The game is up and DNC tears are both copious AND delicious.

"You can argue with me son, but you can't argue with mathematics"  

Homer Simpson

Anunnaki's picture

What middle class? Obunghole turned middle class into working poor

land_of_the_few's picture

Reagan was out of office in Jan 1989, one month before the end of the Soviet war in Afghanistan.

The Soviet GDP was still increasing until 1991, when they suddenly voted themselves out of existence for ideological reasons.

Which is why the West failed completely to anticipate it. Any stories you hear like "we won" or "we fought hard to end the Soviet Union" are simply comforting Lies To Children to present a black-and-white Cowboys-and-Indians worldview. 

Some "comforting" music of the era:-

Frankie Goes To Hollywood - Two Tribes (ZTIS 119)

Yes the famous "Soviet leader" and Reagan bare knuckle unsporting fight scene!

https://www.youtube.com/watch?v=SXWVpcypf0w

LargeHardonCollider's picture

Can't wait for the Pocahontas vs. Trump 2020 matchup.

tmosley's picture

I'd like to see Negrodumbass vs Trump, myself.

38BWD22's picture

 

 

Kamala Harris would be more formidable than Auntie Maxine, but I agree with your point.

Trump will win if he gets anything (Wall, immigration, ObamaCare repeal, lower taxes) done.  If he gets any of those TWO done, it's almost a lock.

NO other recent president has gotten much of anything decent done.

drendebe10's picture

Fat fukm chance the do nothing republicant turds get anything done.  They are too busy squabbling among their self centered selves. Fukemal.  The turds all need to have their skin sand papered off & buried in salt then thrown out in the middle of a Syrian desert with a can of course Fukemall

Almost Solvent's picture

They will run a proud to be out Muslim in 2020 (unlike the closet one we were stuck with).

 

http://www.aljazeera.com/indepth/features/2017/03/abdul-el-sayed-running...

 

Michigan is ground zero for the muzzie invasion - they import 'em like it's going out of style.

Anunnaki's picture

They will run a transgendered Muslim In full hijab for Prez

Normalcy Bias's picture

Sheeeiiitt, they're actually kicking around the idea of running Maxine FUCKING Waters for Prezzy in 2020!

I PRAY they do so, but the non-stop hilarity may prove to be debilitating.

 

Archibald Buttle's picture

i would say there is no way in hell this could possibly happen, and then i remember mcstain. and palin. considering how far downhill things have gone since then, in 4 years maxine waters might turn out to be a "viable" candidate.

Anunnaki's picture

She can retire the Democrats debt by insisting Putin pay reparations for his invasion of Korea

Normalcy Bias's picture

$3.3 Million? That's a lot of blowjobs. Better get busy DemoTards...