While the Republican National Committee works to get its head above water financially the Democratic National Committee is bringing in the big donor bucks. In April, the DNC raised $12.4 million, thanks in part to multiple fundraising events that featured President Obama. That’s more than double the $6.1 million that the RNC raised during the same period, The New York Times reports.
Former RNC chairman Michael Steele left the organization swimming in a sea of red ink. The RNC is reportedly close to $19 billion in debt and has only $5 million on hand. Republicans chose Reince Priebus to replace Steele in January because of Priebus' low-key personality and ability to restore GOP donors’ faith in the committee.
Obama raised almost $750 million during the 2008 campaign and pundits are predicting that this time around he could bring in close to $1 billion. That’s a lot of campaign dollars that he won’t even need, given that he won’t be competing in the primary. Democrats also have formed an Obama Victory Fund. The first $5,000 of a contribution made at a Victory Fund event goes to the president’s re-election campaign. The rest, capped at $30,800, goes to the DNC. The party’s April jackpot includes $7 million from the Victory Fund.
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