The Democratic and Republican Senate campaign committees begin the 2012 cycle with almost nothing left in the bank after spending more than $30 million each in the final two weeks of the midterm elections.
The Democratic Senatorial Campaign Committee reported raising $19.9 million during the period running between Oct. 14 and Nov. 22, according to reports filed with the Secretary of the Senate's office. The DSCC entered Thanksgiving week with just $712,784 on hand, meaning they spent about $34 million in the final spring.
National Republican Senatorial Committee reports show they raised $19.4 million in the same time period and had $519,326 left to spend. That puts the GOP's final fortnight spending around $30.8 million.
Both parties are swimming in debt. The NRSC owes $6 million in unpaid loans, while the DSCC begins the 2012 cycle $6.7 million in the red.
Still, both Senate committees are in better shape than their House and national party counterparts. The RNC and the DNC both owe more than $15 million, while the NRCC owes $12 million and the DCCC has to pay back $19.4 million in loans.
In total, Senate Democrats outraised their Republican counterparts by $15 million. DSCC executive director J.B. Poersch credited that fundraising with helping Democrats hold on to control of the upper chamber. Democrats lost six seats in the midterms, fewer than some had predicted.
"Senate Democrats beat back the Republicans this year in part because we outraised the other side," Poersch said. Poersch said his committee had broken several fundraising records this cycle.