The November midterm elections are fast approaching, and the Democratic Party does not appear to be the well-oiled machine poised to turn the tide against President Donald Trump and Republicans.
The New York Times has the details from inside the party, saying leaders are panicking and looking for money where they can find it. The Democratic National Committee under Chairman Ken Martin has reportedly asked vendors to not send their bills under after the midterms.
That’s after last fall, when the party took out a $15 million loan, using the money in part to win victories in the New Jersey and Virginia governor’s races, according to the report.
It has since paid $700,000 in interest on that loan, or $75,000 per month, according to the report, but in January, it will need to start paying down the principal at a rate of $1.66 million a month.
The party’s own headquarters in Southeast Washington, D.C., was used as collateral on the loan, according to the news site NOTUS. That has been done to raise money in previous campaigns, a DNC official told NOTUS.