The Democratic Party is broke and fighting itself, which is bad news for Democrats heading into an election they should be able to win.

• The DNC is $2 million in debt and even put its headquarters up as collateral for a $15 million loan last year.
• Republicans are flush by comparison — Trump controls a $400 million super PAC and the RNC is sitting on $128 million in cash.
• Much of the hole traces back to 2024: Kamala Harris raised record sums but ended $20 million in debt, and the DNC spent $7.3 million just to buy her old donor list.
• Party chair Ken Martin is losing the confidence of donors and staff, with constant leaks suggesting rivals want to push him out for someone even more corporate.
• The core problem is indecision — the DNC won't commit to either grassroots or corporate fundraising, so it gets little from either.

Outlook: Unless the DNC picks a lane and raises real money, expect more infighting and a weaker Democratic push into the 2026 midterms.