Fundraising to erase debt

How many nonprofits do you know that could spend themselves into millions of dollars worth of debt and than launch a fundraising campaigns to ask donors to help them fix it? That's exactly what both political parties are doing this week.

Patrick O'Connor at The Hill reports that the National Republican Congressional Committee (NRCC) is trying to retire nearly $2 million of debt in the wake of the party’s heavy loss in last month’s midterm elections, according to a fundraising letter from the group’s executive director.

Last week it was also reported that Sen. Elizabeth Dole of North Carolina, the outgoing head of the NRSC, appealed for money in a fundraising letter to GOP donors last month. The NRSC teamed up with the Republican National Committee in a futile attempt to hold onto the GOP's Senate majority.