Washington cash flow shifts left
For the first time in 18 years, Democratic candidates are out-fundraising their GOP counterparts. That means people with a lot of money are betting the Dems will hold onto power, Steve Henn reports.
U.S. Capitol Building (Paul J. Richards/AFP/Getty Images)
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TEXT OF STORY
Doug Krizner: Democrats are ahead of Republicans in party fundraising. In the first six months of the year, Dems raised more than $111 million. Republicans, just over $108 million. And as Steve Henn reports, this hasn't happened since 1989.
Steve Henn: The last time Democrats raised more money than Republicans for their party committees George W. Bush was just beginning his career... in Major League Baseball.
I was 17 and the most popular song in the country was, well, frightening.
[ Song: Richard Marx's "Right Here Waiting" ]
And it's been a long, long wait for Democrats dreaming of financial supremacy. But when they took control of Congress last fall, the fundraising climate in Washington changed dramatically.
Meredith McGehee: Money follows power.
Meredith McGehee is at the Campaign Legal Center.
McGehee: People who give large amounts of money are essentially making a bet that Democrats will continue to hold onto power.
Since 2003 Democratic party fundraising has almost doubled while the Republican's take has fallen by about 25 percent.
In the presidential race, Democratic candidates have roughly three times the amount of cash as their republican counterparts.
In Washington, I'm Steve Henn for Marketplace.
