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The Washington Post reports:
Hundreds of major donors have abandoned the Republican National Committee, leaving it $20 million in debt and threatening its future as a central player in the 2012 presidential election.
The RNC raised just $7 million from major donors for the midterm elections, one sixth as much as it brought in for the previous midterms, in 2006. By contrast, the Democratic National Committee raised $38 million from large donors for last fall’s midterms, three times as much as for the 2006 elections, according to a Washington Post analysis of donor records.
On Friday, when RNC members gather at National Harbor to select a chairman, they will meet under the shadow of the committee’s finances, which are in worse shape than at any time since the Federal Election Commission began keeping records 35 years ago.
“You can’t even dream of winning in 2012 with that kind of operation,” said John Dowd, a Washington lawyer and longtime RNC donor who decided against contributing in the past two years because of the “mess” at the party. “As long as it’s in that kind of shape, I can’t even think of giving.”
The run-up to Friday’s vote, with Chairman Michael Steele in a tough race for reelection against four other candidates, has been laced with acrimony largely focused on the party’s struggles to raise and manage money.
The financial troubles could be a significant challenge going forward, given a broad field of potential Republican presidential candidates and President Obama’s fundraising success in the past. In his 2008 campaign, Obama raised $750 million, making him one of the strongest political fundraisers ever.
The Republican Party’s donor rolls show that 609 major contributors from the past two elections chose not to write a check for the 2010 midterms, according to an analysis of data from the nonpartisan Center for Responsive Politics.
At least some of those donors decided to give instead to newly formed conservative interest groups, which increased their share of Republican fundraising in the midterms.
Among those donors is Donald Carter, Texas businessman and founder of the Dallas Mavericks NBA franchise, who gave at least $25,000 to the RNC each year from 2004 to 2008. In October, Carter gave $10,000 to American Crossroads, a group founded with support from George W. Bush administration political adviser Karl Rove.
Carter did not return calls seeking comment.
“Major donors are sophisticated,” said Mike Duncan, who chaired the RNC during the 2008 elections. “They understand they have a choice.”
Fiscal Conservatism is proved a myth again. They could not run a piss up in a brewery!
Perhaps the RNC could borrow $ 20 million from the Washington Nationals, an organization which just blew about that amount per year to sign a right-fielder.
My guess is that the money will not come back no matter who is RNC head.
The base is moving towards the Tea Party types, the Bachmanns and Angels of the party.
The RNC may become irrelivant very soon………..
More seriously, I wonder whether the RNC and the DNC are less vehicles that drive and fund the various campaigns throughout the nation and more money trees for the various parasites of both parties. Both parties seem to do well whenever the other party is in power irrespective of what little each party’s national committee accomplishes. For instance, the RNC was little help in winning the 2010 landslide but it was a nice source of money for the various consultants and lackeys to feast upon.
Remember the hard right is not fiscally conservative. They are only social absolutists.
Taz: The RNC may become irrelivant [sic] very soon
I kinda wonder that myself.
The fundraising tensions between the National Committees and 501c4/527 groups have become even more interesting, thanks to Citizens United.
Sure, the RNC still offers some unique benies to donors who wish to widely support the GOP. But their pool of donors who endorse such broad support is, I suspect, radically dwindling. The Dems seem to be doing a better job of constructively coordinating these fundraising arms. Then again, the Dems aren’t brazenly eating their own en masse.
As of midterms, I suspect we’ve only just begun to measure the effects of both CU and Rove’s Crossroads. 2012′s gonna be interesting.
TerryF98 // Jan 14, 2011 at 1:30 pm:
“Fiscal Conservatism is proved a myth again.”
One distinction: some Republicans have been known to be fiscally irresponsible on occasion; all Democrats are fiscally irresponsible, ALL the time.
jquintana // Jan 14, 2011 at 4:01 pm
“TerryF98 // Jan 14, 2011 at 1:30 pm:
“Fiscal Conservatism is proved a myth again.”
One distinction: some Republicans have been known to be fiscally irresponsible on occasion; all Democrats are fiscally irresponsible, ALL the time.”
Here is something you will not believe, unless you look it up.
All Republican Presidents since WW2 have added to the deficit as a percentage of GDP. ALL of them
All Democrat Presidents since WW2 have reduced the deficit as a percentage of GDP. ALL of them.
Obama will as well by the end of his 8 years.
Fiscal conservatism is a total myth.
Bullshit…you’re a liar and a moron. Under Obama, the National Debt has skyrocketed form 9 trillion to over 14 trillion.
And another thing – you don’t ADD to the deficit by cutting taxes. All Democrats do is spend spend SPEND and fucking SPEND money they don’t have, raise deficit spending by the billions and trillions, then raise taxes to pay for it. Period.
Good grief Jquintana.
Are you as stupid, rude and ignorant as your last two posts suggest? Or are you making a special effort.
I posted a fact, please go away and disprove the fact, look up the figures and prove your point. To just come here and use foul language is immature and juvenile.
Doesn’t GDP include government spending?
With the internet and the anger at establishment GOP, the Right is turning to donations to campaigns and smaller PACs.
The RNC After Steele: Many Bridges to Build | // Jan 19, 2011 at 4:29 am
[...] the end of Steele’s tenure, major donors abandoned the RNC en masse, leaving the organization tens of millions of dollars in debt and seriously calling into question Steele’s ability to do his most important job: raise [...]
The Root: New RNC Must Not Forget Minority Voters | Chicago Press Release Services // Jan 19, 2011 at 8:37 am
[...] the end of Steele’s tenure, major donors abandoned the RNC en masse, leaving the organization tens of millions of dollars in debt and seriously calling into question Steele’s ability to do his most important job: raise [...]