Boom:
The Democratic Congressional Campaign Committee, seeing an irresistible opportunity to make big gains on Election Day, has secured a $15 million loan that it will use to splurge on tight races during the last three weeks of the campaign season.
The $15 million loan is nearly twice the $8 million that the National Republican Congressional Committee was able to borrow recently and adds to the huge financial advantage that Democrats already hold over the GOP.
When combined with the cash-on-hand advantage that the DCCC has over the National Republican Congressional Committee – $54 million to $14.4 million as of Aug. 31 – the loan leaves House Democratic leaders with $47 million more than their GOP counterparts to pour into contested districts.
In 2006, the DCCC took out an $11.5 million loan in the home stretch to help pay for the IE operations. At $15 million, this cash injection is nearly twice the size of the cash-strapped NRCC’s $8 million loan, ensuring that the NRCC won’t be able to outspend the DCCC anywhere.
That sound you hear is Tom Cole weeping into his Appletini.
The DCCC’s investment, if used wisely, will reap dividends in the next Congress. Emphasis on “if used wisely”.
Its not even noon yet, and now I want an appletini!
Any chance of the DSCC following suit?
Whichever bank that was made a better decision that Wachovia did with the NRCC.
is from bank of america