The DNC Money Train Comes to a Halt as It Struggles to Cover Operating Costs

By The Blog Source

Leading Democrats are expressing concern about the DNC's financial situation, with officials reportedly considering whether the party will need to borrow money simply to pay for operations.

Due to slow contributions from major donors, executives of the Democratic National Committee have considered borrowing money, according to a New York Times article on Wednesday. DNC Chair Ken Martin said that many donors are "still litigating the campaign their person didn't win" and that they are "frustrated" with the outcome of the 2024 election. The party's internal tensions have only gotten worse as a result of David Hogg's unsuccessful leadership attempt and the resignations of two important union leaders.

The New York Times reported on Wednesday that the Democratic National Committee could have to borrow funds to remain solvent, citing six unnamed party insiders. Major Democratic funders have reportedly stopped making donations, and DNC leaders are now considering taking out loans to cover their basic expenses.

After winning the chair in February, Ken Martin has been in charge of what The Times called a decline in large donations. Martin told the newspaper that contributors are still upset about the 2024 election results, acknowledging the party's difficulties. "People are really disappointed with the outcome, and they invested more money than they ever had before," he said. "They're looking for answers. I'm not upset about it. I wasn't in command.”

"I know many people are carrying grudges," Martin continued. I'm not one of those individuals. Living in the past is no longer relevant. Other than Donald Trump and the Republican Party, I have no enemies.

Rufus Gifford, the former chair of Harris Finance, cautioned that the disorder would harm the party's reputation. Gifford told the NYT, "What they are witnessing is headline after headline of incompetence and infighting. We must unite and concentrate on the current problems. That must occur immediately. I'm referring to today. And we must change our direction if that isn't possible.”

Rep. Mark Pocan, a Democrat from Wisconsin, told the outlet that it was "worse than some high school student council drama." The impact from David Hogg, the Parkland activist who was elected vice chair in February but soon came under fire for announcing plans to primary incumbent Democrats, has also rocked the DNC. Internal outrage over that action led to Hogg's removal from office in a vote on June 11.

Longtime union stalwarts Randi Weingarten and Lee Saunders announced their resignations from the DNC, dealing another blow to party unity. According to The Times, both had supported Ben Wikler, Martin's opponent in the chair contest earlier this year.

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