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Democrats Are Jarred by Drop In Fundraising
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| Contributor | Scott³ |
| Last Edited | Scott³ Sep 25, 2009 01:01pm |
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| Category | News |
| Author | Paul Kane |
| Media | Newspaper - Washington Post |
| News Date | Friday, September 25, 2009 06:00:00 PM UTC0:0 |
| Description | "Democratic political committees have seen a decline in their fundraising fortunes this year, a result of complacency among their rank-and-file donors and a de facto boycott by many of their wealthiest givers, who have been put off by the party's harsh rhetoric about big business.
The trend is a marked reversal from recent history, in which Democrats have erased the GOP's long-standing fundraising advantage. In the first six months of 2009, Democratic campaign committees' receipts have dropped compared with the same period two years earlier.
The vast majority of those declines were accounted for by the absence of large donors who, strategists say, have shut their checkbooks in part because Democrats have heightened their attacks on the conduct of major financial firms and set their sights on rewriting the laws that regulate their behavior.
As the battle over President Obama's effort to overhaul the health-care system reached a fever pitch this summer, the three national Republican committees combined to bring in $1.7 million more than their Democratic counterparts in August. The pair of Democratic committees tasked with raising money for House and Senate candidates -- and doing so at a time when the party holds its strongest position on Capitol Hill in a generation -- have watched their receipts plummet by a combined 20 percent with little more than a year to go before the November 2010 midterm elections.
Large-scale defeats in the midterms could be a crippling blow to the ambitious agenda mapped out by Obama's top advisers, particularly if they happen in the Senate, where Democrats caucus with a 60-seat filibuster-proof majority. The party will have to work furiously to defend at least six Senate seats and as many as 40 in the House, including many snatched from Republicans."
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