DNC still struggling to pay off debt

August 21, 2013

The Democratic National Committee continues to struggle to pay off its debt from the 2012 election, according to its latest campaign finance report.

In July, the DNC actually saw its debt rise from $18.3 million to $18.5 million, even as its cash on hand declined from $5.7 million to $4.1 million. The committee raised $3.9 million, but spent significantly more than that -- $5.4 million.

The DNC has paid down some of it's more than $20 million in debt through the first seven months of 2013, but not very quickly. Over the last three months, the DNC has paid down just more than $2 million in debt, but has also seen its cash on hand decline by $1.3 million.

Even before July, it was paying down only about $1 million per month -- a rate that would leave it plenty deep in debt heading into the 2014 election year.

Committee spokesman Michael Czin said the DNC made a decision to invest heavily in the 2012 election and that it is not hamstrung by its debt.

"We put that into a field. We won a whole bunch of states nobody thought we would win, and we’re proud of that," Czin said, adding: "The sky’s not falling."

The Republican National Committee, meanwhile, outraised the DNC more than two-to-one in July, $5.9 million to $3.9 million. The RNC has $12.3 million in cash and no debt.

On the House side, both the National Republican Congressional Committee and the Democratic Congressional Campaign Committee raised $4.4 million in July. The DCCC has $14.6 million on hand and no debt, while the NRCC has $12.1 million in cash and $750,000 in debt.

Updated at 5:04 p.m.

Aaron Blake covers national politics and writes regularly for The Fix.
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