Wednesday, June 27, 2012

Facing a major deficit, Democrats are scaling back on their convention festivities

Well, ain’t that a darn shame! With their convention just over two months away, the Democratic National Committee’s party planners are about $27 million smackers short of their fundraising goal — which means that they’re finding it suddenly necessary to cut down on some of the initially planned bells and whistles of their party’s main event.

Democrats canceled a political convention kick-off event at the Charlotte Motor Speedway and will move the activities to Charlotte’s main business district, the convention’s host committee announced. …

The move comes as party planners are grappling with a fundraising deficit of roughly $27 million, according to two people familiar with the matter who requested anonymity to discuss internal party politics. With a party ban on direct contributions from corporations, the host committee has raised less than $10 million, well short of its $36.6 million goal, said one of the people. …

In January, Steve Kerrigan, chief executive officer of the convention committee, said that Democrats were shortening their convention from four days to three “to make room for a day to organize and celebrate the Carolinas, Virginia and the South and kick off the convention at Charlotte Motor Speedway on Labor Day,” Sept. 3.

Kerrigan also announced that Obama would accept his party’s nomination at the almost 74,000-seat Bank of America Stadium, home of the Carolina Panthers professional football team. The outdoor finale would echo Obama’s convention speech at Invesco Field in Denver four years ago. …

Republicans have not placed any restrictions on where they raise money and have secured corporate contributions from such companies  AT&T Inc. (T), Microsoft Corp. (MSFT) and Coca-Cola Co. (KO) to meet their $55 million target.

It wouldn’t be funny, except that they dreamed so big — President Obama, for example, felt that he wouldn’t be able to confine his self-glorification to anything less than a gigantic football stadium — and they’re finding themselves forced to realize that even celebrations of President Obama’s magnanimity are built on budgets, not enthusiastic projections of grandeur. Kind of strangely similar to how they run the government, huh?

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