Is The DNC Broke?

Here's Tom Edsall's key paragraph on the fund-raising filings:

"The DNC said in a press release it had $14.5 million in cash on hand and "no bank debt." Close examination of the report shows, however, that in terms of coveted hard money, the DNC has $1.52 million in cash on hand and a debt to vendors, not banks, of $4 million. The rest of the cash on hand is in soft money, including nearly $10 million in the headquarters building fund, which cannot be spent on campaigns."

I wonder what the "vendors" thought when they did the math. Let's see: $1.5 million cash on hand. $4 million in vendor debt. Time to call the Repo Man. You can read the entire Edsall story (which is well worth reading) by clicking here.