President Obama to Headline Democratic Fund-raiser Despite Economic Downturn
By Michael Mcauliff
DAILY NEWS STAFF WRITER
WASHINGTON - President Obama will test out whether he still has the golden fund-raising touch, even in a miserable economy, with a major Democratic Party shindig next week, Democratic sources confirmed.
Team Obama is hoping to pack Washington's 1,900-seat Warner Theatre on March 25, as he works to fill the depleted coffers of the Democratic National Committee, which is now headed by Obama pal, Virginia Gov. Tom Kaine.
The Party seemed to be hedging its bets in the grim economic climate, offering tickets ranging in price from just $250 on up to $2,500.
"It is a tough time," White House spokesman Bill Burton told Bloomberg News. "Nonetheless, the president feels a responsibility to help Tim Kaine build a party that will be an effective force for progress in this country."
Crooner Tony Bennett, who backed Hillary Clinton before she lost to Obama, will offer the entertainment for the soiree.
Democrats have been using Obama's name to raise money through e-mail and online appeals, but this will be his first in-person event since taking office after running an election campaign that hauled about $750 million, shattering all records.
But his party is strapped for cash. According to the latest Federal election filings, the Democrats had $5 million in debt remaining on a $10 million loan from the Bank of America, with just $5.27 million in the bank.
The GOP had no debt at the end of January, with $22.8 million in the bank.
Reader Comments
With the lack of leadership
I guess campaigning is the best thing he could do to help his new party of change.
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