Dems’ Congressional Fundraising Outpaced Republicans In Second Quarter

The Democratic Congressional Campaign Committee (DCCC) increased its fortune through the second quarter of 2007.Dems’ Congressional Fundraising Outpaced Republicans In Second QuarterBy Cliff Montgomery – July 26th, 2007In the modern era of American political fundraising, each calendar year is essentially broken down into four quarters, each lasting three months. The political party bigwigs love it when they can finish a quarter with a bang; this usually is measured in terms of big dollar numbers.Big dollars presumably show a party’s influence and popularity–and perhaps even increase confidence among supporters. Such results usually begin a political movement which feeds off of itself; for the more money a party attracts, the more it is perceived as a “winner”, which tends to attract more interest, more followers and even more money.Such a “bandwagon” increase in fortune is precisely what the Democratic Congressional Campaign Committee (DCCC) recently accomplished through the second quarter of 2007, which ended on June 30th. Its U.S. House campaign unit raked in $10.4 million in June, thus increasing a new-found fundraising advantage over its political opponent, the National Republican Congressional Committee (NRCC), which rose $5.9 million in June.According to Federal Election Commission (FEC) reports filed last Friday, the DCCC–which is hoping to increase the Democrats’ 233-202 majority in House seats–took in a total of $36.4 million during the first half of 2007. In so doing, it out-performed the NRCC, which attracted  $29.5 million in the first half of this year.But here’s perhaps an even more telling story: The self-described frugal, “small government” Republicans are in fact spending their money like drunken sailors on shore leave, whereas the supposed “big-spending” liberal Democrats have so far proven themselves much more frugal and prudent with their dollars. This growing imbalance may only serve to give Democrats an increasing  edge in resources over time.The free-spending NRCC has spent $28.9 million during the last two quarters, almost every dollar they’ve received; but the DCCC has spent only $17.6 million this year, and seem none the worse for spending so much less.With such frugal spending, the DCCC now enjoys a superior cash reserve–a total of $19.5 million going into the third quarter of 2007. The House Republican committee can only call on a relatively slim $2 million in cash reserves.In June, the DCCC spent only $2.4 million–$8 million less than it took in, according to second quarter records filed with the FEC. The NRCC, by comparison, blew $5.7 million during the month, which was almost as many dollars as it raised in June.Yet a closer look shows that Republican spending issues–at least for the month of June–weren’t quite as bad as they may appear at first glance.A large chunk of Republican spending in June was due to a hefty $2.4 million loan repayment. The NRCC currently owes $4.35 million to debtors. Last month the DCCC made a similar loan repayment of $416,500, which lowered Dems’ outstanding debts to $4.1 million.Also, the DCCC had an especially impressive June in part because they deftly employed a perfectly legal, but rather shady, manner of cooking its books.It turns out that more than $3.1 million in Democratic political contributions for June was actually received from the individual campaign committees of Democratic House members.Both parties know of the legal loophole, which allows a national party committee to accept unlimited dollars from the personal campaign committees of Congressional members. Both parties openly exploit the loophole when they can.And since it’s a given that senior House members enjoy both greater national exposure and a greater control over their party’s campaign cash, it’s also a given that they will usually benefit from these advantages. Over time most build up huge personal campaign chests, and are therefore best able to give top dollar to any political committee which strikes their fancy.While perhaps not every senior House member is a Democrat, these days every House committee chairman and nearly every powerful member is, thanks to that party’s shattering win at the polls last year.So it’s not a matter of chance that the seven largest individual donations to the DCCC in June either came from members of the House Democratic leadership or via committee chairmen.But all tricks aside, the DCCC is still beating the NRCC in its appeal to individual donors. No less than 57 individuals each gave $28,500 to the DCCC in June–the maximum annual contribution an individual may give to a political party.Only three individuals gave the maximum $28,500 to the NRCC last month.Like what you’re reading so far? Then why not order a full year (52 issues) of thee-newsletter for only $15? A major article covering an story not being told in the Corporate Press will be delivered to your email every Monday morning for a full year, for less than 30 cents an issue. Order Now!