RNC Can’t Pay Its Bills — Cites ‘Cash Flow’ Problem
RNC Can’t Pay Its Bills — Cites ‘Cash Flow’ Problem
“The Republican National Committee, the GOP’s fundraising and organizational arm, is facing a “cashflow challenge” and can’t pay all of its bills on time. In a memo Tuesday, RNC Chief Administrative Officer Boyd Rutherford wrote, “We will not be able to pay off the vendors this week. We will be slow in paying as we are having a cashflow challenge. Everyone will be slow paid until after the first of the year.”The acknowledgment by Rutherford of the RNC’s money woes comes at a bad time for the group’s chairman, Michael Steele, who already faces several potential challengers for another two-year term, writes the Washington Post’s Chris Cillizza. Aside from Steele’s verbal gaffes, the cash-flow issue is likely to re-open the debate about his financial stewardship, the Post said.”