12:12 pm January 6, 2010, by jgalloway
Michael Steele, chairman of the Republican National Committee, is peddling a book that says the GOP has been on the wrong track for nearly two decades.
This article from The Hill, a D.C. newspaper, isn’t likely to help convince Republican grassroots that there’s been a change of direction:
A 2009 spending spree has left the Republican National Committee (RNC) with its worst election-year cash flow this decade.
The largest GOP party committee has $8.7 million in the bank heading into an election year with 37 governors’ races, a dozen major Senate contests, dozens more in the House and an all-important redistricting cycle on the horizon.
Said one RNC official: “It is very troubling, and the thing is, most people don’t understand this. But it is really troubling.”
The RNC had $22.8 million in cash and no debt when Michael Steele was elected chairman at the end of January, but has since seen its cash on hand drop to less than $9 million at the end of November.
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