The DNC is nearly broke [Feel Good Story of the Day!]

CNN Money/Fortune Magazine ^ | September 30, 2013 | Tory Newmyer

[SoFloFreeper]

As the government nears shutdown, the fundraising arm of the Democratic Party is having a budget crisis of its own.

There's another budget crisis in Washington, and it's unfolding inside the Democratic party. The Democratic National Committee remains so deeply in the hole from spending in the last election that it is struggling to pay its own vendors.

It is a highly unusual state of affairs for a national party -- especially one that can deploy the President as its fundraiser-in-chief -- and it speaks to the quiet but serious organizational problems the party has yet to address since the last election, obscured in part by the much messier spectacle of GOP infighting.

The Democrats' numbers speak for themselves: Through August, 10 months after helping President Obama secure a second term, the DNC owed its various creditors a total of $18.1 million, compared to the $12.5 million cash cushion the Republican National Committee is holding.

Several executives at firms that contract to provide services to the party -- speaking anonymously to avoid antagonizing what remains an important if troubled client -- describe an organization playing for time as they raise alarms about past-due bills falling further behind. And senior strategists close to the DNC say they worry the organization appears to have no road map back to solvency. "They really thought they could get this money raised by the summer," one said, "but the fact is, from talking to people over there, they have no real plan for how to solve this."

[devolve]

- 100M - Obama’s tripin’ ta Afreeka
— 67M - Obamacare Slush Fund Missing/Lost by Obama
-— 1M - 3-Day “golf-date” with Tiger Woods

- Holy Moley der Catfish!

[KGeorge]

LOL Hope they don’t hold their breath. 0bamugabe & Mooch (& Valerie) are probably plotting the minions massacre as we speak because they’re not, every one, out selling plasma (or organs).

[Ghost of SVR4]

I just realized why Obama thinks she is cute, she has manly features.

[iacovatx]

For an organization that gets funds from
*unions that force members to pay dues out of paychecks
*housing agencies that contributed millions to Dems.
*Wall Street that contributes a lion’s share of cash to Dems.

and that uses the gov’t as a publicity agency to campaign
and that has the largest website, old media, and social media propaganda machine in history...

This is rather surprising news. However, it is unlikely to be a problem for the Dems as they will scrape up more cash fairly quickly. My experience with Dems is they aren’t generally concerned about money—the activist Dems tend to focus on other issues and put budget issues on the back burner. They aren’t good with money and so tend to be very wasteful and inefficient. Once the bills are overdue, however, they hit up the usual sources and get what they need.

That is a clue to one of their weaknesses. The vast majority of Dems expect to be given money rather contribute money. There are other weaknesses.

[publius911]

"They really thought they could get this money raised by the summer," one said, "but the fact is, from talking to people over there, they have no real plan for how to solve this."

Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha!

The DNC figured, if Hussein can spend money the country doesn't have, why can't they?
Just stiff the vendors stupid enough to provide services to a group that has neither morals, ethics or even a conscience.

Doesn't Hillary still owe millions$ to service providers from her LAST election?

Progressives are criminals, by definition.

[bgill]

Bet they still haven’t paid off the Clintons’ debts.

[PGalt]

HOORAY! DEFUND/DISMANTLE socialist collectives, foreign and domestic. It’s really easy to...

live - free - republic

[Rockpile]

I wonder how much DNC money goes for payola to their pals in the news cartel? After all, station owners, publishers, editors and reporters need brie and caviar too.

[publius911]

Any suggested epitaphs on the gravestone of the DNC?

"They kept claiming 'they meant well,' until the quicksand won"

[MIchaelTArchangel]

It great to know that, in addition to being morally bankrupt since at least the 1960s, they are now also financially bankrupt. It just too bad that those fools who “know not their fathers” have pretty much bankrupted the nation.

[The Wizard]

more good news

[RayChuang88]

It's now officially a YOU problem, Democratic National Committee.

[SunkenCiv]

Gosh, it’s almost as if some one has embezzled millions, same impression one gets looking at the federal “green industry” program.

Thanks SoFloFreeper.

[lepton]

Wasn’t that most of the stimulus package, continued from year to year?

[B4Ranch]

I can picture that in the bed that I used to sleep in.

[painter]

That’s where all my boxed up money is! Send it back and I’ll pay a finders fee.

[Bob Ireland]

***the organization appears to have no road map back to solvency***

Uhhh... reality check: millionaires are lining up to help when the time comes [Hollywierd, GE, Silicon Valley, Bill Gates, Warren Buffet, Solyndra, etc., etc.many to pay extortion protection from Eric Holder (ask Gibson Guitars)] // Navigators for Ob@maCare are voter registrants to sign idiots up as Democrap voters for free stuff like health care... and, of course, there is always voter fraud (ask Bob Dornan re: Loretta Sanchez).

And let's not forget that Ob@ma has untold millions in his campaign war chest totally unaccounted for. Should he choose to step down in 2015 he can act as king-maker.

Hey, Leni... remember the little ditty:
Anwar Sadat could eat no fat,
His wife could eat no lean... [?] ;-)