Following Hillary Clinton’s failed presidential campaign, the Democratic National Committee has found itself juggling a mountain of debt.
A new FEC report, released Thursday, shows just how bad things are — the Democratic Party is $3.3 million dollars in debt.
That’s not good… and it gets worse. Much, much worse.
A looming lawsuit — filed by supporters of Clinton’s failed rival, Bernie Sanders — could mean the end of the DNC.
Sanders’ supporters sued the DNC, demanding their 2016 primary donations be refunded after evidence emerged that the primary was rigged in favor of Clinton.
“The case being heard in a Florida courtroom dates back to last summer, when the Democrats were thrown into turmoil following the leak of documents that appeared to show some DNC officials sought to undermine Sanders in the party primary,” Fox News reported earlier this month. “Jared Beck, a Harvard law expert, shortly afterward filed a class-action lawsuit on behalf of residents of 45 states against the DNC and former chairwomen Debbie Wasserman Schultz.”
The lawsuit is slowly moving it’s way to trial — and with their money troubles, it has become a fight the DNC cannot afford to lose.
That’s because Sanders’ supporters donated nearly $230 million dollars to their candidate’s losing campaign. If the DNC is ruled against by the judge, they may have to pay back every single penny.
Experts say such a debt would force the party to declare bankruptcy to escape their tens of thousands of new creditors — which would dissolve the political entity for good.
In other words, no more Democratic Party.
The Republican Party, in contrast, is thriving. According to The Hill, the RNC finished June with $44.7 million saved away.
It took awhile, but it looks like the Democratic Party’s lack of fiscal responsibility might finally catch up to it.
— The Horn editorial team