The Democratic National Committee (DNC) is financially insolvent heading into the 2016 election year. Federal Election Commission records reveal the DNC reported a nearly million-dollar debt, marking the fourth month in a row that the DNC spent more money than it took in.
The DNC raised $4,456,789 in the month of October, according to its most recent filing. But the committee spent $5,254,928, for a net loss of $798,139.
That’s not quite as bad as September, when the party took in $4,296,011 but spent $5,504,823 for a net loss of more than $1.2 million. The DNC has only $4,703,185 in cash on hand against a $6,921,661 debt.
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