Democrats Said to End Convention $15 Million Short

**RockX** · 09-10-2012, 09:16 AM

Democrats ended their convention in Charlotte $5 million short of their budget even after being forced to draw down a $10 million line of credit from Duke Energy Corp. (DUK), according to a Democratic Party fundraiser.

That will leave a $15 million bill that eventually will have to be paid by President Barack Obama’s campaign or the Democratic National Committee, according to the fundraiser, who spoke on condition of anonymity to discuss internal deliberations.

The Charlotte Host Committee ended the convention with more than $5 million in immediate obligations and may require a direct cash infusion from the Obama campaign to pay vendors, said the fundraiser.

The $10 million line of credit to Duke Energy will need to be repaid next year, said a second person familiar with the matter, who also spoke on condition of anonymity. Duke Energy Chairman and Chief Executive OfficerJim Rogersis co-chairman of the host committee.
Those debts could siphon off advertising money in the campaign’s final months, as Democrats face a cash disadvantage.

http://www.bloomberg.com/news/2012-0...ion-short.html

What a surprise, these people can’t run a simple convention without going millions over budget. Why would you expect anything else from the party of ‘always spend more than you have’? I feel sorry for the vendors, Democrats and the Obama campaign have a long history of stiffing their vendors.

Think of the irony of the Democrats having to beg for funds from an evil utility company. A company that makes its money burning coal.
Also, how many Duke Energy customers are now going to have to pay even higher utility bills thanks to the Democrats?

**Bonestorm** · 09-10-2012, 09:18 AM

Hilarious.

**Disillusioned** · 09-10-2012, 09:22 AM

It feels so awkward not to be able to disagree with Razor on anything.

If this was a person I'd say an intervention was needed, this idea of spend more than you have, routinely, is just stupid. Since there's no intervention for an entire half of the country... We may have a problem.

**PostmodernProphet** · 09-11-2012, 07:09 AM

the part that puzzles me the most is the claim that they had a budget.....I thought Dems didn't do budgets.....

**blackascoal** · 09-11-2012, 07:19 AM

If the intent of conventions is to put their candidates in a better position to win the election .. I'd say the democrats accomplished that goal better than republicans.

Obama maintains post-convention lead over Romney: Reuters/Ipsos poll
http://news.yahoo.com/obama-maintain...054658920.html

Obama Soars To A Huge 6 Point Lead Over Romney In A New CNN Poll
Read more: http://www.businessinsider.com/cnn-p...#ixzz26APBoHJA

Perhaps you righties should spend more time trying to promote your candidate than worrying about how democrats spend their money. :0)

... just sayin'

Budgets?????

When was the last time a republican president created a balanced budget with a surplus?

**canceled.2021.1** · 09-11-2012, 07:34 AM

Can't they just borrow it from the chicoms?

**Disillusioned** · 09-11-2012, 08:33 AM

Originally Posted by blackascoal

If the intent of conventions is to put their candidates in a better position to win the election .. I'd say the democrats accomplished that goal better than republicans.

Obama maintains post-convention lead over Romney: Reuters/Ipsos poll
http://news.yahoo.com/obama-maintain...054658920.html

Obama Soars To A Huge 6 Point Lead Over Romney In A New CNN Poll
Read more: http://www.businessinsider.com/cnn-p...#ixzz26APBoHJA

Perhaps you righties should spend more time trying to promote your candidate than worrying about how democrats spend their money. :0)

... just sayin'

Budgets?????

When was the last time a republican president created a balanced budget with a surplus?

I'm worried about how dems spend their money because there's about a 50% chance its my money they could end up spending. staying within budget isn't an optional extra. Or at least it isn't supposed to be.

**blackascoal** · 09-11-2012, 08:44 AM

Originally Posted by Disillusioned

I'm worried about how dems spend their money because there's about a 50% chance its my money they could end up spending. staying within budget isn't an optional extra. Or at least it isn't supposed to be.

Isn't convention money their money?

I worry less about how they spend convention money that how they fail to govern. The military budget should be sliced in half .. NOBODY should be getting a tax cut .. but they don't have that courage.

As far as the convention .. I bet they spent that extra 15 mil on security and turning Charlotte into a locked-down city.

Charlotte Was Transformed into a Total Securitized Metropolis for DNC
http://dissenter.firedoglake.com/201...polis-for-dnc/

**Jarod** · 09-11-2012, 08:46 AM

Voters dont seem to understand how large enterprises work, borrowing money is part of doing business.

**Disillusioned** · 09-11-2012, 09:04 AM

Originally Posted by blackascoal

Isn't convention money their money?

I worry less about how they spend convention money that how they fail to govern. The military budget should be sliced in half .. NOBODY should be getting a tax cut .. but they don't have that courage.

As far as the convention .. I bet they spent that extra 15 mil on security and turning Charlotte into a locked-down city.

Charlotte Was Transformed into a Total Securitized Metropolis for DNC
http://dissenter.firedoglake.com/201...polis-for-dnc/

Read what I'm saying not what you're hearing. I'm worried about how they spend money(any money) because the money they could end up spending could be mine. The democrats(and to some extent republicans) seem to have moved into the land where money doesn't mean anything and they can spend as much as they like. I'm just worried about when the rude awakening occurs.

**blackascoal** · 09-11-2012, 09:17 AM

Originally Posted by Disillusioned

Read what I'm saying not what you're hearing. I'm worried about how they spend money(any money) because the money they could end up spending could be mine. The democrats(and to some extent republicans) seem to have moved into the land where money doesn't mean anything and they can spend as much as they like. I'm just worried about when the rude awakening occurs.

I heard you clearly brother. I've said that I worry about how they spend money governing.

Convention money is their money, and they get to spend their money anyway they choose. The problem there is who they get their money from.

Sounds like you should be supporting serious campaign finance reform as I do.

**PostmodernProphet** · 09-11-2012, 09:21 AM

Originally Posted by blackascoal

When was the last time a republican president created a balanced budget with a surplus?

as I recall no one has done that since WW2......

**Disillusioned** · 09-11-2012, 09:25 AM

Originally Posted by blackascoal

I heard you clearly brother. I've said that I worry about how they spend money governing.

Convention money is their money, and they get to spend their money anyway they choose. The problem there is who they get their money from.

Sounds like you should be supporting serious campaign finance reform as I do.

Personally I'm not worried about who their money is coming from so much as I am the general american attitude that seems to be creeping up of, "get it now, pay later/never" it's as much immoral as it is dumb. You see it most heavily in government and that's where the big problem is going to hit, but normal people do it to, works fine until their salary gets cut or they get unexpected leave, then everything they have gets repossessed and their life falls to pieces and they blame the bank. My position has been for a long time, socially liberal, fiscally conservative, pay what you owe and don't spend outside your means.

**blackascoal** · 09-11-2012, 10:52 AM

Originally Posted by Disillusioned

Personally I'm not worried about who their money is coming from so much as I am the general american attitude that seems to be creeping up of, "get it now, pay later/never" it's as much immoral as it is dumb. You see it most heavily in government and that's where the big problem is going to hit, but normal people do it to, works fine until their salary gets cut or they get unexpected leave, then everything they have gets repossessed and their life falls to pieces and they blame the bank. My position has been for a long time, socially liberal, fiscally conservative, pay what you owe and don't spend outside your means.

We live in the land of Oz brother.

Money is more important than life in the land of Oz .. and what may be affordable today, may not be by tomorrow.

What others do with their money is not my concern .. only what they do with the people's money.

**Disillusioned** · 09-11-2012, 12:10 PM

Originally Posted by blackascoal

We live in the land of Oz brother.

Money is more important than life in the land of Oz .. and what may be affordable today, may not be by tomorrow.

What others do with their money is not my concern .. only what they do with the people's money.

It's the crazy floating system of economics that crashed us the first time around. We're so concerned with "getting out of the recession" we don't have time(or the inclination) for preventing another one.

Ah well, don't see the change as likely, but it'd be a novel experience.