Democratic strategist Julian Epstein has raised concerns about the party's dwindling support from affluent liberal donors, suggesting that the Democratic Party can no longer rely on automatic financial backing from this influential group.
According to WND, the Democratic National Committee (DNC) is grappling with financial challenges, reporting approximately $12 million in cash reserves while being burdened by nearly $16 million in outstanding debt from a recent loan, as per filings with the Federal Election Commission. During a segment on "Kudlow," guest host David Asman questioned why prominent left-wing billionaires have not intervened to stabilize the DNC's finances.
Epstein interpreted this silence from the donor class as a broader "vote of no confidence" in the Democratic Party. "I think what were seeing with the donor class right now is a lack of confidence, a vote of no confidence in the Democrats," Epstein remarked.
He attributed this sentiment to several factors, including "the lie about Bidens mental health, the incompetency of the Harris campaign, and the fact that all of the data shows that the Democratic Party is deeply out of touch on almost every single economic and social cultural issue."
Epstein further elaborated on how elite donors have influenced the party's direction, pulling it away from the political center. "The irony here, David, is that the donor class is perhaps the most leftist class of the Democratic Party. They are the ones driving the Democratic Party to be out of touch," he stated.
Epstein noted that these donors are now withholding their financial support due to dissatisfaction with the party's perceived leftward drift. "So I dont really know where the Democrats go from here. Ive argued for a Sister Souljah moment, but I dont think a lot of people are listening to that," he added.
The DNC's financial woes are not a recent development, as the committee entered the midterm cycle at a disadvantage, hampered by lingering debt from Vice President Kamala Harris's 2024 presidential campaign and tepid donor enthusiasm. In contrast, the Republican National Committee reported raising $10.7 million in September, with approximately $86 million in cash reserves, while the DNC managed to raise $10.3 million, holding about $12 million in reserves.
The financial strain is partly attributed to liabilities from Harris's unsuccessful campaign, which expended significant resources in a short period. The DNC also disbursed an additional $1.6 million in September to settle campaign-related expenses, pushing total payments linked to Harris's effort past $20 million, as reported by Axios.
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