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WP Worried By Drop In Dem Donations

From a deeply concerned Washington Post:

Democrats Are Jarred by Drop In Fundraising

Complacency, Absence of Big Donors Cited

By Paul Kane
Friday, September 25, 2009

Democratic political committees have seen a decline in their fundraising fortunes this year, a result of complacency among their rank-and-file donors and a de facto boycott by many of their wealthiest givers, who have been put off by the party’s harsh rhetoric about big business.

The trend is a marked reversal from recent history, in which Democrats have erased the GOP’s long-standing fundraising advantage. In the first six months of 2009, Democratic campaign committees’ receipts have dropped compared with the same period two years earlier.

The vast majority of those declines were accounted for by the absence of large donors who, strategists say, have shut their checkbooks in part because Democrats have heightened their attacks on the conduct of major financial firms and set their sights on rewriting the laws that regulate their behavior.

As the battle over President Obama’s effort to overhaul the health-care system reached a fever pitch this summer, the three national Republican committees combined to bring in $1.7 million more than their Democratic counterparts in August. The pair of Democratic committees tasked with raising money for House and Senate candidates — and doing so at a time when the party holds its strongest position on Capitol Hill in a generation — have watched their receipts plummet by a combined 20 percent with little more than a year to go before the November 2010 midterm elections

Democrats said a struggling economy is only partly to blame for the poor fundraising performance and acknowledged a more perilous problem: satisfaction among activists that the party now holds the White House, 60 votes in the Senate and 60 percent of the House.

"There was a little sense of complacency that set in despite our best efforts to warn people," said Rep. Chris Van Hollen (Md.), chairman of the Democratic Congressional Campaign Committee. "We made it very clear: Beware."

Democrats had watched the party’s campaign committees rake in increasing amounts of money throughout this decade, culminating in the 2007-2008 election cycle, when their congressional committees raised a combined $125 million more than their GOP counterparts. They used that financial edge to boost their candidates with seven- and sometimes eight-figure advertising budgets, often using that money to run negative ads that candidates shy away from airing.

Now there are signs that such advantages may not be there next year.

The Democratic Senatorial Campaign Committee was considered the party’s best-run organization as it oversaw pickups of 14 Republican seats in 2006 and 2008. But through August, the DSCC had raised just $27.5 million, a drop of more than 25 percent, or $9.2 million, from the same point two years ago. While donations from special interest political action committees have increased, individual donors are disappearing at a rate that has alarmed party leaders: The DSCC’s contributions from individuals was $18.5 million through August, a drop of $12.6 million, or nearly 40 percent, from two years earlier, according to reports filed with the Federal Election Commission.

A midyear analysis by the FEC showed that the DSCC declines at that stage had come entirely from individuals who gave $10,000 or more, a small slice of overall contributors but a group that traditionally provides about half the committee’s fundraising total. Through June, those individual donors’ contributions had declined by more than 50 percent from 2007. The committee is running 12 percent behind its 2005 pace among large donors…

Democrats and their aides, who spoke on the condition of anonymity to discuss internal party strategy, said that rhetoric toward big business has grown so antagonistic that it has become increasingly difficult to raise money on Wall Street, particularly after the controversy about bonuses and executive compensation. The DSCC has also established a rule that forbids accepting donations from the handful of financial firms that received money from the Troubled Assets Relief Program, the $700 billion bailout effort approved last fall, and have not yet repaid the government.

Democrats continue to collect more from big donors than Republicans do, with their trio of national committees almost tripling the amount taken in by the GOP committees in first half of the year, according to the FEC. But Republicans are benefiting from much more energized small-dollar contributors.

The National Republican Senatorial Committee, which has been pitching itself to conservative donors as the only check against Obama’s agenda, has stayed roughly even with the DSCC in overall receipts, and its cash flow is 30 percent ahead of its 2007 level…

If it is just the economy that is to blame, than why is it affecting the Democrats more than the Republicans?

The DSCC has also established a rule that forbids accepting donations from the handful of financial firms that received money from the Troubled Assets Relief Program, the $700 billion bailout effort approved last fall, and have not yet repaid the government.

Expect this rule to fall by the wayside shortly, if it ever really did exist.

Democrats continue to collect more from big donors than Republicans do, with their trio of national committees almost tripling the amount taken in by the GOP committees in first half of the year, according to the FEC.

Isn’t it funny how our media watchdogs always bury little details like this at the bottom of their articles?

They certainly don’t want their readers to get any foolish ideas about the Democrats being the party of the rich.

This article was posted by Steve on Friday, September 25th, 2009. Comments are currently closed.

7 Responses to “WP Worried By Drop In Dem Donations”

  1. Helena says:

    “Democrat … rhetoric toward big business has grown so antagonistic that it has become increasingly difficult to raise money on Wall Street, particularly after the controversy about bonuses and executive compensation…”

    Heh.

  2. Reality Bytes says:

    What’s Next? A fed bail out?

  3. Rusty Shackleford says:

    It is my considered opinion that the federal stim-u-loss money that will drop in later years is specifically targeted in a roundabout way, to be funneled right back into Blammo’s re-election campaign and gives very generously to those entities that can help him the most. Illegal? Absolutely…but this administration has demonstrated repeatedly that they get away with all kinds of crap because….if you cry foul, you are a racist.

    So, watch very carefully (if you can) how the money flows and to where in the months heading into both the mid-terms and the boy-king’s re-election.

  4. Reality Bytes says:

    “How to get Mo Money Without Usin’ Yo Money.” Amazing! I didn’t know Rahm Emanual was a Wayans Bros Fan.

    http://www.youtube.com/watch?v=7jukQX2pl2Q&feature=PlayList&p=047724FB925B6FE0&playnext=1&playnext_from=PL&index=10

  5. bousquem says:

    I guess the democrats finally bit the hand that was feeding them, or at least one of them. Funny how the GOP is getting more small dollar donations from a lot of people and the democrats are getting these big donations from a few people/companies. Seems like it is always being portrayed that republicans are the ones who suck up to big business and ignore the common man while the democrats are always going for “grassroots”. Seems like the exact opposite is showing to be true.

  6. Liberals Demise says:

    The real reason that money isn’t coming in is because all the peoples that raised the monies are in jail or on the run. Then there are the people that have the higher taxes due to the outright loathing of business by DingleBarry. All the others are unemployed and ACORN is being chopped down to the roots!

  7. GTBurns says:

    Since midterms are a year away, People are voting with their wallets first. The public has gotten disgusted with congress and the president in general and the donations are showing it.

    What Obama has done so far is waste taxpayers money on ineffective programs push a overcomplicated and costly mess of a health care bill that he and congress has no clear plan on how to pay for it. His big BFF, ACORN is now in hot water exposed by two private citizens and the DEMS voted to punish them because they got caught and to save their own tenuous future.

    Right now he is waffling on Afghanistan and Iran and has thugs like Chavez singing his praises.

    The public is not liking what they see. For ever person who was at those 9/12 rallies there were probably 1000 people at home who shared their sentiments.

    Come 2012, President Obama is going down like Jimmy Carter.


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