According to an article at The Hill —
A 2009 spending spree has left the Republican National Committee (RNC) with its worst election-year cash flow this decade. 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.
It will be interesting to follow the money, and equally interesting to see how long Michael Steele keeps his job. It’s sad that the party that was once well-respected for their fiscal restraint now outspends their fund raising performance. Could they instigate an almighty tax cut of some sort? They say tax cuts are the solution for all economic woes!
One of the comments to this story is worth repeating here — “If the Republicans are not frugal with money that was given to them voluntarily, just imagine how they’ll waste money raised through taxes. The Myth of Republican Frugality has taken another hit.”