As if losing 12 House seats was not enough, Democrats find themselves in a deep financial hole after last month's midterm elections.
The Democratic Congressional Campaign Committee (DCCC), which handles campaigns for Democrats in the House, is $12 million in debt.
The Washington Post reports
the DCCC did manage to raise $190 million during the election cycle, including $18 million between Oct. 16 and Nov. 24.
The debt stems from a $12 million loan the organization took out. According to the Post, the DCCC was deeper in debt at this point of the 2010 and 2012 election cycles.
The National Republican Congressional Committee,
meanwhile, secured a $20 million credit line for the midterms and is now $8.8 million in the red, according to the Post.
A report in late October claimed the 2014 midterms
would see record spending totals, with candidates and their parties expected to chip in $2.7 billion and outside groups adding another $900 million.
The congressional races in 2010 and 2012 cost about $3.6 billion.
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