Tuesday, July 12, 2005

Democrat Debt Triples, Willet Changes Postitions

By Mark Moore (click "comments" below for the story).


Blogger Mark Moore (Moderator) said...

Reports are piling in that tomorrows newspapers will report that the Democratic Party of Arkansas has tripled its debt in just one month!

Last month Democrats were in shock to learn that $50,000 of an emergency $150,000 line of credit had been tapped. Now it is about to be revealed that the entire line of credit has been consumed in one month. The Democrats are $150,000 dollars in debt. The roughly $30,000 cash they now have on hand will sustain them for the rest of July only - if the spending continues at this rate. Filing fees will come in around mid-March, but other than that it is not immediately obvious where the money to operate between now and then will come from.

In the meantime, Democratic Party Chair Jason Willet has resigned from Congressman Marion Berry's Federal Staff, and has taken a high-paying but temporary job on his Campaing staff. That job is for only six weeks. What is happening? Is Berry just trying to ease Willet into the private sector? Is he just trying to free him up to raise soft money (by law, a federal staffer cannot raise soft money)? Is Berry thinking of retiring and announcing it around Sept. 1st, with Willet as his hand-picked successor?

All of these rumours and more are swirling around tonight. Pleas post any updated info or even educated guesses, that you may have.

10:46 PM, July 12, 2005  
Anonymous Anonymous said...

As much boot licking Willet has done with Dean, you can be sure a huge chunk of national Dem money will soon be coming.

6:44 AM, July 13, 2005  
Blogger terrymcdermott said...

It seems both major parties are having problems in Arkansas.

8:42 AM, July 13, 2005  
Anonymous Anonymous said...


As much as you wish for that to be true, it simply isn't the facts. The Republicans are doing exceptionally well and seem to be headed for even better.

Sorry to disappoint you.

10:10 AM, July 13, 2005  
Blogger Mark Moore (Moderator) said...

Well I think Terry is right. The GOP of Ark. has about $200,000 cash on hand. It has no debt other than the remaining FEC fines. I am not sure of the exact amount of the fines, but I think that it will take them to about zero if paid.

So the Democrats are broke and in debt, and the Republicans have a net worth of about zero. I would not call that "exceptionally well".

7:10 PM, July 13, 2005  
Anonymous Anonymous said...

Mark you are wrong about the money the RPA has. The party has paid off about $100,000 of its fine. It will continue to pay $100,000 a month until the debt is gone.

The RPA has closer to $800,000 on hand and there is a another 150,000 in the pipe coming next week.

The Republicans have no financial trouble.

9:21 AM, July 14, 2005  
Anonymous Anonymous said...

yeah. We are in no trouble except for the fact that both of our candidates for Gov are facing a Demo who has just raised $1M!!!!

3:17 PM, July 14, 2005  
Blogger Mark Moore (Moderator) said...

As for how much money the RPA has, I suppose we will find out tomorrow, when statements are filed. If they have $800,000 cash on hand, they sure have come a long way since the last report!

7:05 PM, July 14, 2005  
Blogger Mark Moore (Moderator) said...

Well the numbers are out and there is simply no way the state GOP has $800,000 cash on hand. Nowhere close. They were broke and facing huge fines to start the year. They have raised $800,000 in total for the year- which is a lot, but half of that went to pay off debts. As for this quarter.......

"The state Republican Party reported Thursday receiving $459,985 during the second quarter of 2005, spending $336,526. "

So they have netted about $123,000 this quarter. They have $230,000 to go on their FEC fine.

I think they are in better shape than the Democrats, but who isn't? I do admire their ability to raise money from people who are not known to give away money for no reason.

10:00 PM, July 15, 2005  
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