The Congressional Democrats are pounding the Republicans in fundraising. From Aaron Blake, via Twitter:
NRCC source: raised 10.2M in March, 18.1M for quarter and has has more cash (9M) than debt (8M). DCCC has 4.6M in cash and 8M in debt.
On the surface, that seems like bad news for the Democratic Congressional Campaign Committee. But in context, it’s stupendous news for the DCCC.
At the end of November, 2010, the DCCC had $3 million cash on hand but a $19.5 million debt, for a net debt of $16.5 million. At that same point the National Republican Congressional Committee had $4 million CoH and only a $12 million debt, for a net debt of $8 million.
In the four months since, without any significant spending demands like special elections, the NRCC has gone from a net debt to a surplus, but only of $1 million. The DCCC, despite losing over 60 members in November and dire warnings from the Republicans–that most of the DC press corps mindlessly accepted–that redistricting would be an unmitigated disaster for Democrats, has gone from a net debt of $16.5 million to a net debt of under $3.5 million. Thus, by controlling administrative and fundraising expenses and outraising the Republicans, the Democrats–at the beginning of the cycle, in a significant minority, after a crushing defeat, with widespread declarations from the chattering class that their chances of regaining the majority were remote–have gained a net of $4 million more than the Republicans.
Wisconsin governor Scott Walker, whose imperious and likely illegal attacks on unions and working families has done so much to rile up Democrats and get them back in fighting shape, probably deserves some of the credit. From an email from the DCCC (and why, oh why do press people send out emails without links to their releases on their website?):
In March 2011, the DCCC raised more than $1.2 million from online grassroots supporters, compared to less than $350,000 in March 2009. On March 31, the final day of the first quarter, the DCCC received the most online contributions in its history
The good news hasn’t stopped, either. According to the same email, the DCCC’s second biggest day ever for online fundraising was April 8th, the day the Republicans almost shut down the federal government.
Kudos to the DCCC and chairman Steve Israel. Keep up the good work.
Oh, and thank you Republican party. You’re making our job easier.