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Mar 27,2009
Political fundraising feels economic pinch
by UPI

WASHINGTON -- Like many other segments of the U.S. economy, political party committees are facing declining revenue and mounting debt, observers say.

For this group, in addition to the recession and months of falling stock markets, there was a marathon political campaign that endlessly taxed donors. That makes for a dramatic decline in fundraising for both Democrats and Republicans, The Washington Post says.

Combined donations from individuals to the six major party campaign committees have fallen by more than 26 percent from a similar period two years ago, the Federal Election Commission reports.

Democrats have seen a drop off in contributions from the small-dollar online donors who fueled U.S. President Barack Obama's campaign.

Republicans have seen a dramatic decline in activity from the kind of loyal big-ticket donors to the Bush White House and its pro-business agenda.

Strategists are said to believe the drop off may be only a temporary fundraising hiccup caused by "donor fatigue," the Post said.

But, they reportedly also worry that unless the economy rebounds by early next year, they may have to slash budgets for the 2010 campaign.

Copyright © 2009, by United Press International. All Rights Reserved.

879 times read

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