House 2010: The Money Chase
by Jonathan Singer, Fri Nov 20, 2009 at 11:34:30 AM EST
Not sure how the Republicans are supposed to retake the House if the Democrats have more than five times more money in the bank than they do.
The DCCC, like its GOP counterpart, spent more than it took in during Oct., thanks to the expensive NY-23 special election. Still, it outraised the NRCC, as the Dem cmte took in $3.8M last month. It also outspent the NRCC, shelling out nearly $4M (about $1.1M of which aided now-Rep. Bill Owens' (D) winning campaign).
While the DCCC has more debt than the NRCC ($3.3M-$2M), it has a huge cash-on-hand edge. At the end of Oct., the DCCC had $14.5M in the bank, while the NRCC lagged with just $4.2M.
The Democratic Congressional Campaign Committee had a net $12.2 million in the bank as of the end of October; the National Republican Congressional Committee had a net $2.2 million in the bank at the time. This means that, as of the latest reading, the DCCC had more than 5.5 times more money on hand than did the NRCC.
When the Democrats sought to retake the House in 2006, cash management played no small role in their success. Indeed, by the summer before election day, the DCCC managed to stockpile more cash in the bank than the NRCC, a nearly unprecedented achievement to that point.
The NRCC is doing better than it was doing at this point in the 2008 cycle, when the committee was still running a net deficit. Nevertheless, until the GOP is able to make up this major disadvantage on the House side, undoing the Democrats' more than 5.5-to-1 lead in campaign cash, it's not at all clear to me how they are supposed to mount the type of effort that could possibly retake the House in 2010 (even leaving aside generic ballot numbers that show them continuing to trail nationwide).