DNC still saddled with debt

The Democratic National Committee raised $4.3 million in January, but is still weighed down by a significant amount of post-election debt.

While it?s not unusual for political parties to creep into the red after an election, Democratic Party ended the 2012 cycle with a debt of $21.5 million, according to a new filing with the Federal Elections Commission.

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The committee?s latest report shows the DNC paying down nearly $700,000 of their post-election debt? ? which shrank to $20.7 million.

The committee has $4.6 million cash on hand, and spent $3.9 million in January.

The DNC enters the 2014 cycle in a similar position to the Republican National Committee in 2010. The RNC ended the 2010 election more than $23 million in debt ? and party regulars worried about the GOP?s ability to compete with Democrats in a presidential year.

Earlier Wednesday, the RNC announced it had raised $6.9 million in January, with $7.1 million in the bank. The committee retired the last of its outstanding debt at the end of 2012.

Source: http://www.politico.com/story/2013/02/dnc-still-saddled-with-debt-87890.html

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