The Democrats ended their convention week with a $15 million outstanding tab, a Democratic Party fundraiser told Bloomberg News.
Organizers were forced to open a $10 million line of credit after falling to reach their $36.7 million fundraising goal, yet still came up $5 million short, thus the $15 million total.
That‘s a bill that will eventually be paid by President Barack Obama’s re-election campaign or by the Democratic National Committee, the fundraiser said. Until then, the Charlotte, N.C. host committee faces more than $5 million in immediate obligations to pay vendors and may get a direct cash infusion from the Obama campaign.
According to Bloomberg, part of the reason for the initial shortfall is that the DNC banned direct cash contributions from corporations. The Republican National Convention did not have similar restrictions.
“If they got within 5 million, considering that they used the line of credit, I think that’s awesome, given the restrictions they had to deal with,” Mike Dino, who headed the DNC host committee in 2008, told Bloomberg. “They should be relieved to be in that range.”
Republican presidential nominee Mitt Romney and the RNC have outraised Obama and the Democrats for three straight months. Early numbers first reported last week indicated Romney’s campaign raised at least $100 million in August. The Obama campaign has not yet announced its August numbers.
By: aranger45
In: Politics
Tags: Democrats, End, DNC, $15 Million, in, the, Hole
Location: New York, New York, United States (load item map)
Marked as: approved
Views: 1515 | Comments: 15 | Votes: 0 | Favorites: 0 | Shared: 0 | Updates: 0 | Times used in channels: 3
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Bailout needed?
Posted Sep-9-2012 Bygonehuntin (2536.26) 
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@gonehuntin
lol, no preview pic needed or not many views.
Posted Sep-9-2012 Bydcmfox (31451.36) 
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@gonehuntin
The thrill is conected to the leg bone, the leg bone is connected to the hip bone the hip bone carrys the wallet which has no more thrills inside. And we finally come full circle
Posted Sep-9-2012 Bybigair (544.60) 
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@gonehuntin
They might put it...
From each according to his ability, to each according to his need.
Posted Sep-9-2012 ByYukon6400 (1010.22) Yukon6400 View Channel Send Message
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@dcmfox
some sort of glitch. I can't upload a pic onto LL
Posted Sep-12-2012 Byaranger45 (3047.38) 
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NO OBAMA 2012. Time to Fire this POS and put another man and team to get things done.
Posted Sep-9-2012 ByReddevil2014 (319.00) 
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@Reddevil2014
'Time to Fire this POS and put another man and team to get things done.'
But that man and team to get things done IS NOT Romney and the Republicans.
Find me a good alternative and I'll happily vote for them, otherwise its the Dems and Obama for me.
Posted Sep-10-2012 ByJohn_Matrix (647.94) 
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@John_Matrix Well, the economy is still shit. So I'll take the "out of touch businessman" over the "community organizer" to get the country back to making money. Everything else is pretty much the same.
Posted Sep-10-2012 Bydjdjr (408.88) 
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Yeah. Democrats aren't good with arithmetic.
Posted Sep-11-2012 Byjoe vega (92.90) 
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GOP's had a "negative bump" and a positive bump for Obama. Woops. Thats probably more irritating I would imagine.
Posted Sep-9-2012 Bystevecore (819.18) stevecore View Channel Send Message
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@stevecore
The bump you heard was the clock ringing over 16 trillion.
Posted Sep-9-2012 Bybigair (544.60) 
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@stevecore Only if you look at these statistics, you will see that they are heavily over-sampled people that claim democrat affiliation. Go ahead please yourself with polls, November 7th is coming, getting elected on Hope only works once.
Posted Sep-10-2012 Bygrindkore (177.60) 
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Some Quanitative Easing will set this straight
Posted Sep-10-2012 ByWalterWhite (20.60) 
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Haha. FBHO
Posted Sep-10-2012 ByTexas TEA (391.80)

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So why didn't all the citizens on welfare give contributions to their leader?
Posted Sep-10-2012 Byoddbal (962.24) 
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