You can tell a lot about a person by how they spend their money.
The same applies to groups, as well. And in the case of the Democratic National Committee, it looks like liberals still haven’t learned how to be responsible with their dollars.
DNC officials have just received brutal financial news that could devastate their 2018 political ambitions.
According to the New York Observer and federal documents, the Democrats are currently $3.3 million dollars in debt.
In comparison, the Republican National Committee has a debt of zero, and has over six times the amount of cash in the bank as the Democrats.
“The DNC has failed to salvage its reputation after former Chair Debbie Wasserman Schultz resigned in disgrace for rigging the Democratic presidential primaries,” explained the Observer. “The DNC needs a drastic overhaul to recoup its losses.”
One look at the financial picture of the two parties shows a dramatic difference. While Democrats have racked up party debt, Republicans have completely paid off their obligations and are now fundraising at a record pace.
“The Republican National Committee (RNC) raised a record $13.4 million in June, bringing its total 2017 fundraising to $75.3 million,” reported The Hill.
“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,” the news outlet continued.
A report from the Federal Election Commission shows that in contrast to the GOP’s nearly $45 million in cash, Democrats have a comparatively paltry $7.4 million in the bank… and that already-small number is before their large debt is subtracted.