NRCC takes out $20M line of credit

[Freddie Stubbs]

Source: Politico

The National Republican Congressional Committee will receive a $20 million line of credit as it seeks to expand the electoral playing field and seize the majority, POLITICO has learned.

An NRCC official confirmed the line of credit, which the committee secured from Wachovia. The committee only plans to spend $12 million of the new funds and will keep the rest in reserve.

The House GOP campaign arm has said it plans to spend $50 million to air TV ads across 65 districts.

POLITICO reported late Thursday that the Democratic Congressional Campaign Committee had secured a $17 million line of credit as it seeks to protect its embattled majority. The DCCC’s line of credit was included in its pre-general election reporting period filing, which specified that the committee had $25 million cash on hand. The DCCC has planned a $57 million TV ad campaign.

Read more: http://www.politico.com/news/stories/1010/44036.html

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If they don't win the House, it will take them a while to pay this back.

[Catshrink]

1. I thought they didn't like deficits

[woodsprite]

2. I hope it's not to buy off vote machine hackers. n/t

[KansDem]

3. Doesn't sound like a "GOP tsunami is coming" to me.

This reeks of the fellow who stands around in the men's rest room of the local bar telling everyone who comes in, "Hey, fellow! I got a hot tip for the third race at Santa Anita! I just need a fin! C'mon, just a fin! It'll pay off big, I tell ya! We'll all win BIG!"

But I'm still voting...

[derby378]

4. Would they be harassed by the same collection agencies that donated to the GOP?

"Uh, Mr. Steele, this is Derek with DiversiPay Collection Services, and I know this is awkward, since we've donated to the Republican Party, but your account was turned over to us, so actually - we want our donations back."

:rofl:

[The Wielding Truth]

5. Principles don't matter when they are applied to something Repub's want to do.

They never feel the need to be accountable or responsible that is why they should never be put in power.

[emulatorloo]

6. What happened? Did the Chamber and Karl Rove run out of money already?

[Turbineguy]

7. I hope Wachovia made them

take out default insurance:evilgrin:

[glinda]

8. If you bank with Wells Fargo, please tell them of your displeasure and concern as

you (we) will get stuck with some of this somehow.

[Heywood J]

9. Obviously neither party has all that much popular support,

since they're resorting to borrowing enough money to buy entire TV stations. If they had real support, they wouldn't need to borrow.

To me, this smells like massive unhappiness with the status quo from the electorate.

[mikeSchmuckabee]

10. If you can't afford it, you don't deserve it.

Let's make them feel as underwater as a subprime homeowner.

[Cognitive_Resonance]

11. They're desperate. 2010 is a milestone toward the destruction of the Republican Party. nt

[notesdev]

12. Just getting that whole bankruptcy thing going

intellectual, financial...