Democrats Said to End Convention $15 Million Short

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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/2012-09-07/democrats-said-to-end-convention-15-million-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?


 
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.
 
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-maintains-post-convention-lead-over-romney-054658920.html

Obama Soars To A Huge 6 Point Lead Over Romney In A New CNN Poll
Read more: http://www.businessinsider.com/cnn-...e-dnc-democratic-clinton-2012-9#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?
 
blackascoal said:
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-maintains-post-convention-lead-over-romney-054658920.html

Obama Soars To A Huge 6 Point Lead Over Romney In A New CNN Poll
Read more: http://www.businessinsider.com/cnn-...e-dnc-democratic-clinton-2012-9#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?
Click to expand...
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.
 
Disillusioned said:
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.
Click to expand...

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/20...-into-a-total-securitized-metropolis-for-dnc/
 
Voters dont seem to understand how large enterprises work, borrowing money is part of doing business.
 
blackascoal said:
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/20...-into-a-total-securitized-metropolis-for-dnc/
Click to expand...

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.
 
Disillusioned said:
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.
Click to expand...

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.
 
blackascoal said:
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.
Click to expand...

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.
 
Disillusioned said:
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.
Click to expand...

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.
 
blackascoal said:
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.
Click to expand...

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.
 
Disillusioned said:
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.
Click to expand...

Remind me, which party members said deficit doesn't matter, that is until 2008.
 
Rana said:
Remind me, which party members said deficit doesn't matter, that is until 2008.
Click to expand...
You'll note in my previous statement it said "and to some extent republicans". This is a cross party problem. The democrats just seem more willing to keep on spending and foist the bill off on somebody else.
 
Democrats can't even have a party without million$ in deficit spending.

I guess the added cost of buying prostitutes for both the Secret Service AND Bill Clinton can be awfully expensive...
 
To not spend money today on an event that cannot happen again for another four years because you lack sufficient cash today but you will collect the shortfall amount many times over during the next three months would be asininity of the highest order.
 
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