Recession Dents Party Coffers

Fundraising unusually low for this point in the cycle
By Gabriel Winant,  Newser User
Posted Mar 27, 2009 10:17 AM CDT
President Barack Obama embraces DNC chairman and Virginia Gov. Tim Kaine at a Democratic National Committee fundraiser at the Warner Theater in Washington on Wednesday.   (AP Photo)
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(Newser) – With recession raging and without a campaign to attract attention, donations to both political parties have fallen, reports the Washington Post. Donations to the six major party committees are off 26% from the same period 2 years ago. “People are feeling it,” an energy executive told Rep. Chris Van Hollen, the top Democratic House fundraiser.

The steepness of the fall in fundraising suggests that it’s more than just the usual post-election fatigue. The downturn seems to be punishing Democrats severely. Their supporters “aren’t feeling as flush as they were a year ago,” says a fundraiser. And for Republicans, being shut out of power has closed a major spigot of dollars.