The Democratic National Committee's torrid fundraising pace after President Obama announced he would run for re-election slowed dramatically in July, according to new reports filed with the Federal Election Commission.
The DNC raised $6.9 million last month, the new reports show. That's down from the $12.2 million the committee raised in June, the $10.5 million raised in May and the $14 million raised in April, when Obama said he would seek a second term.
The slower fundraising pace came in a month in which Washington was consumed by debate over raising the debt ceiling. During that debate, Obama canceled or delayed a number of fundraisers, leading some senior advisors to worry to the media that their totals for the third quarter would not match the combined $86 million Obama's campaign and the DNC raised between April 1 and June 30.
(It's worth noting that professional fundraisers will admit both July and August are lousy months for fundraising, given people's vacation schedules)
A joint Obama-DNC account contributed just $2.2 million to the party's coffers this month. The party paid down about $600,000 in debt, but Democrats still owe about $11.2 million to creditors. The DNC has $20.1 million in the bank.
The Republican National Committee, meanwhile, raised about $6.1 million in the month of July, a GOP source told The Hotline. The RNC has $7.6 million in the bank, about $300,000 more than it had last month.
That figure could have been higher, but the RNC spent big bucks on a four-week advertising campaign on behalf of Republican state senators in Wisconsin who faced recall elections; two Republicans lost those elections, but the party kept control of the state Senate, a key victory after anger over Gov. Scott Walker's revision of the state's collective bargaining laws.
The beleaguered RNC found itself saddled with more than $24 million in debt after the 2010 elections; that debt has been cut to just less than $17 million, though it still presents a huge obstacle. The committee, the GOP source said, is bent on cutting any wasteful spending it can in hopes of reducing the debt as much as possible.