From The Hill:
The National Republican Congressional Committee (NRCC) saw its cash on hand decline $1.3 million between January and February, as it spent more than $1 million on an unsuccessful special election and uncovered that hundreds of thousands were lost in alleged fraud.
The NRCC invested heavily in the race of Republican Jim Oberweis, who unsuccessfully ran for former House Speaker Dennis Hastert’s (R-Ill.) district earlier this month. Almost all of the $1.2 million the NRCC spent was recorded in its February report, which was filed Thursday. The alleged illegal funneling of money by one of the committee’s former employees, Christopher Ward, was revealed in a briefing last week.
All told, the NRCC raised $4.6 million in February, but it spent $5.1 million. Its final cash dropped from $6.4 million at the end of January to $5.1 million at the end of February, with $1.9 million in still-unpaid debt.
The NRCC reported its actual cash on hand at the beginning of the month to be $5.7 million, about $700,000 less than previously thought. It paid down just $400,000 in debt.
Republicans have forced contributions from members of Congress by tying Committee chairs and leadership positions to donations to the NRCC. One result of this, of course, is that GOP bankrolls are a little small these days. A second consequence may be to discourage acts of generosity.
Members may keep their balances and use them eventually for other federal campaigns. Or, if swept along with good vibes, the recent wave of retirees could bail the GOP out of their problem.
Many recent retirees (or actually announcers of retirement) have little to play with and many months to go. Four have more in debts than in their cash on hasnd: Barbara Cubin, Rick Renzi, Dennis Hastert, and John Doolittle. Five others have less than $100,000.
There are half a dozen pretty large stashes. I could name names but this may be going too far as is. I don’t think I want Chris Bowers’ program being adopted. I do have total and individual coh and debt figures, though.
Lantos had over $1 million on hand last time I looked…
Hooley has about $500k….
Marty Meehan had close to $4 million
These figures are very grim for the GOP. I can’t see them going on the offense in more than half a dozen seats, especially since they have to defend more close seats than they won.
I don’t think the Democrats will repeat their 2006 performances, but they could expand they lead by 20 seats.