Michael Steele Is FISCALLY IRRESPONSIBLE With His RNC
The RNChas no money you guys! JOIN THE CLUB, right? Like with the recession and how no one has any money? Ha ha ha. But the RNC's paltry cash-on-hand problem isn't very similar in nature to the Average American's paltry cash-on-hand problem, which is rooted in the "I have no job to give me the aforementioned cash-on-hand" quagmire. It's because Michael Steele et al. went shopping for a few cheap off-year election winners but ended up buying the two most expensive gubernatorial victories in the store!
Oh but for the halcyon days of Soft Money!
A 2009 spending spree has left the Republican National Committee (RNC) with its worst election-year cash flow this decade.
The largest GOP party committee has $8.7 million in the bank heading into an election year with 37 governors’ races, a dozen major Senate contests, dozens more in the House and an all-important redistricting cycle on the horizon.
The RNC had $22.8 million in cash and no debt when Michael Steele was elected chairman at the end of January, but has since seen its cash on hand drop to less than $9 million at the end of November.
Over the previous five months, while governors’ battles were being waged in New Jersey and Virginia, the committee saw its cash reserves drop by a full $15 million. Through November, the committee spent more than $90 million last year, which is nearly $20 million more than the Democratic National Committee (DNC).
The Democratic National Committee (DNC) lost both races, but saw its cash on hand climb to a debt-free $13 million. That’s not a whole lot better than the RNC, but the DNC began the year in much worse fiscal shape, with $5.6 million in cash and $5 million in debt.
Well, at least citizens of New Jersey and Virginia can finally sleep peacefully at night, knowing that Republicans are back in charge and protecting them from Terror, property taxes, and "urbans." A $15 million drop in reserves? Pish posh! Cost is of no concern when you have the opportunity to elect a fat guy and a robot.