The Democratic Congressional Campaign Committee retired the last of its $17 million in debt from the 2012 election last month -- doing so considerably faster than it had in recent years.
But the National Republican Congressional Committee won the fundraising battle in June, outraising its Democratic counterpart $7.1 million to $6.7 million
The NRCC paid down $2.5 million in debt and now has $11.3 million in cash and $2.25 million in debt, compared to the DCCC's $13.2 million in the bank and no debt.
At this point two years ago, the DCCC had $7.4 million in cash and $4.7 million in debt. In 2009, it had $9.7 million in cash and $6 million in debt. It didn't pay off its 2010 debt until December 2011 and its 2008 debt until March 2010.
The GOP's debt should soon be paid off as well.
By paying off the debt now, the party can avoid making interest payments for months to come and focus on banking as much money as it can for 2014.