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NRCC Secures $8 Million Loan
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| Contributor | ArmyDem |
| Last Edited | ArmyDem Oct 08, 2008 10:30am |
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| Category | Blog Entry |
| News Date | Wednesday, October 8, 2008 04:00:00 PM UTC0:0 |
| Description | by: James L.
Wed Oct 08, 2008 at 12:27 PM EDT
You knew this was going to happen:
The National Republican Congressional Committee, trailing its Democratic counterpart considerably in cash on hand, has secured an $8 million loan to spend on House races during the last few weeks of the campaign, according to sources.
The NRCC reported $14.4 million in cash on hand as of Aug. 31, compared to $54 million in the bank for the Democratic Congressional Campaign Committee. As it did last cycle, the NRCC is procuring its loan from Wachovia Bank, sources confirmed.
The NRCC's $8 million loan would appear to push the committee's cash on hand over the $20 million mark, depending on how much money it raised and spent in September. Last month's numbers for both the NRCC and DCCC are not due to be publicized until later this month.
With this new loan, the NRCC is still going to be outspent, just not quite as badly as before. I hope this inspires members of the caucus to pay their dues, but also, the DCCC should strongly consider taking out a sizable loan of their own. Playing fields ripe with this many opportunities don't come along every cycle. |
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