The organization appears to have no road map to solvency. “They really thought they could get this money raised by the summer.”
This is what happens when you spend more money than you have and you can't fix the problem by using the whole country and its future generations as collateral while calling Republicans "terrorists" for refusing to raise the debt ceiling.
Obama babbles incessantly about the need to raise the debt ceiling to "pay our bills" while his party, like his old campaign, can't pay its bills.
There’s another budget crisis in Washington, and it’s unfolding inside the Democratic party. The Democratic National Committee remains so deeply in the hole from spending in the last election that it is struggling to pay its own vendors.
It is a highly unusual state of affairs for a national party — especially one that can deploy the President as its fundraiser-in-chief – and it speaks to the quiet but serious organizational problems the party has yet to address since the last election...
The problem with that is that...
1. Obama is busy fundraising for OFA, his own SuperPAC, and is neglecting the Democratic Party. So are many of his backers.
2. The DNC Chair is Debbie Wasserman Schultz who is incompetent, unappealing to donors and deep in a pile of personal debt.
The Democrats’ numbers speak for themselves: Through August, 10 months after helping President Obama secure a second term, the DNC owed its various creditors a total of $18.1 million, compared to the $12.5 million cash cushion the Republican National Committee is holding.
And the DNC spent that money to win an election while the RNC spent its money on...
That's the problem here. The DNC is incompetent when it comes to the economy, but all too competent when it comes to community organizing.
Several executives at firms that contract to provide services to the party – speaking anonymously to avoid antagonizing what remains an important if troubled client — describe an organization playing for time as they raise alarms about past-due bills falling further behind. And senior strategists close to the DNC say they worry the organization appears to have no road map back to solvency. “They really thought they could get this money raised by the summer,” one said, “but the fact is, from talking to people over there, they have no real plan for how to solve this.”
They may not solve it.
If Hillary decides to do what Obama did and operate outside the party, which is entirely possible considering her paranoia and her own extensive organization dubbed ClintonWorld, then the Democratic Party is screwed.
Its only hope is that Hillary will recognize the importance of at least holding on to the Senate. But it's also possible that she may decide that Obama's way of governing by executive order and blaming a Republican congress for everything will work for her.
In which case she may end up destroying the Democratic Party as an independent structure which may well be what the left wants.
DNC national press secretary Michael Czin says the committee is working with vendors on a case-by-case basis to pay down their tabs. And filings show the organization over the last five months has made $4.5 million in payments to the Amalgamated Bank and appears to be hewing to a $1 million-per-month installment schedule now.
It's kind of pathetic that anyone would entrust people who are on a payment schedule with the national economy.
Sources close to the DNC say officials there have quietly laid the blame in part on the White House. It's no secret that DNC Chair Debbie Wasserman Schultz, who also represents an area around Miami in the U.S. House, lacks strong relationships inside the administration. But it's not even clear who at the White House should be minding the problem these days, following the exodus of President Obama's top political brains.
It's like they're... incompetent.