Democratic National Committee (DNC) Chair Ken Martin said “nothing’s gone wrong” with his committee’s finances, defending its cash position in a CNN interview on Sept. 9, hours before Republicans opened their first midterm convention in Dallas.
The committee’s most recent filing with the Federal Election Commission (FEC) shows it holding more debt than cash with less than two months until Election Day. Asked what had gone wrong, Martin said the position was intentional.
“Nothing’s gone wrong, just the opposite. We’ve made a bet,” Martin said.
The DNC reported $16,052,959 in cash on hand and $17,916,447 in debts and obligations at the close of July, according to its August monthly report, filed Aug. 20 and covering July 1–31. It raised $9,239,820 during the month and spent $9,519,794, leaving it about $280,000 further out of pocket than it took in. Its debts exceed its cash by roughly $1.86 million. …