Right Change: Democrats in Deficit

The Democrats are currently operating at a $27 million deficit for the upcoming political convention being organized by the Democratic National Committee, forcing them to not only change venues and potentially cancel scheduled events, but also shorten the entire affair by a full day. The deficit is due to a staggering overestimate of fundraising, coming up with only $10 million of a $36.6 million goal.

The democratic party falls short on budgeting yet again. Surprise, surprise. However, they are not demanding a bailout for their economic faux pas, nor are they lobbying for a stimulus in order to allow them to spend the money they could not earn. No, the committee hosts are responding with—imagine—spending cuts. Can’t afford a four-day convention? Alright, let’s do three. Can’t quite cover the costs for this venue? Well, we’ll have to pick another one.

We are pleasantly surprised by the common sense and financial responsibility with which the planners of this event are handling their lack of cash. Maybe they can send a memo to the White House on the matter.  We’re sure President Obama would return the favor with a few fundraising tips, although maybe from his 2008 plan. That seemed to work a little better.

This problem is nothing new for the Democratic National Committee. For their 2008 convention in Denver the Democrats were $6 million over budget, blowing money on extravagant office space and scaring off potential donors with ridiculous demands. To this overspending, a spokeswoman was quoted as saying: “We are exactly where we intended to be at.”

Democrats are singing the same song this time around, coming back to the Bloomberg report which cites the under-funding of the convention saying "we're doing just fine." Odd, that seems reminiscent of something another democrat recently claimed…

Bottom line: we couldn’t help but shake our heads and shrug when we saw this headline. This sort of financial delusion is simply too typical of the Democratic Party. Here’s hoping that learning the hard way to balance their convention checkbooks will carry over into federal economic strategy. Baby steps.

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