DNC faces cash shortfall on eve of election

We already knew that the Republican National Committee had more than 10 times as much cash as the DNC while the party’s were holding their conventions, but a closer look at the DNC’s August report shows it also took out $8 million in loans during that month — which means it had more debt ($11.8 million) than cash on hand ($7.1 million).

It’s not unusual for a campaign or campaign committee to take out a line of credit at the end of a close election — Mitt Romney’s campaign took out $20 million in loans to get through the primary season — but the DNC’s cash situation is significantly worse than it has been in recent election years.