Ain't dat just a danged shame?

Posted by stevebenen at 12:44 pm on "Crooks and Liars"

May 24, 2010

Republican National Committee Very, Very Low on Cash

This post originally appeared on Washington Monthly.

Since Michael Steele took over as chairman of the Republican National Committee, the party’s budgetary decisions have been the subject of widespread consternation, intensified by the fact that RNC fundraising has fallen far short of expectations.

These concerns have escalated in recent months, in light of expense reports pointing to unnecessary spending on private planes, limousines, catering, flowers, softball equipment, and an outing at lesbian-themed bondage nightclub.

A CNN report this afternoon will likely raise the anxiety levels among Republicans to new heights.

An internal Republican National Committee document obtained by CNN paints a damning picture of the committee’s financial standing compared to the past five election cycles.

The document, pulled together during a recent review sparked by concerns over RNC spending practices, said the committee had $12.5 million in cash on hand at the end of April.

By comparison, the average cash on hand at the end of April from 2002-2009 was $40.4 million. And that average includes the odd numbered years when there are fewer election contests.