RNC Has Just a Net $3 Million in the Bank

Jonathan Martin has the gory details for Politico:

The Republican National Committee has just over $5 million in the bank for the final stretch of the 2010 midterm election campaign, according to an unannounced filing with the FEC disclosed Friday night.

The report also indicates that the national party headed by embattled chairman Michael Steele is carrying just over $2 million in debt.

There was no press release from the RNC attempting to put a positive spin on the grim numbers. Rather, officials from the Democratic National Committee flagged the RNC's report, which was posted on the Federal Election Commission’s website Friday night.

It indicated that the committee brought in slightly more than $5.5 million in July — less than half of what the DNC raised — while spending $11 million.

As bad as it is that the Republicans only have about $3 million in their national campaign account (after including debts) and that they raised less than half as much as their Democratic counterparts in the last month, perhaps the most remarkable detail from the latest report is that fully $900,000 of the party committee's haul for July came from a lump sum insurance payout -- meaning that the Republican National Committee actually raised well under $500,000 for the month.

It is true that the Republican Governors Association is is more flush with cash than its Democratic rival. That said, given that the National Republican Senatorial Committee raising less than the Democrats' committee and the GOP's house campaign committee having just 61 percent of the cash-on-hand of the Democratic Congressional Campaign Committee, the fact that the RNC isn't even really treading water could mean the GOP doesn't have the money to make it to election day at full strength.