State Republicans are facing harsh criticism following the announcement of a $2 million deficit- they're not the only ones. Minnesota DFL'ers are reporting $210 thousand of debt, which is down from $750 thousand at the start of 2011.
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The latest campaign fundraising reports show that the Minnesota Republican Party had a debt of $964,367 - - which does not include $700,000 stemming from the 2010 gubernatorial recount, according to MPR. Meanwhile, the DFL Party reports a debt of $267,654 but says it has more than $400 thousand on hand.
Politics In Minnesota quotes sources saying the Minnesota Republican Party's debts reach to about $2 million. That's almost double a previous estimate. The debt comes from unpaid legal fees, an FEC fine and recent invoices that have ballooned the party's financial woes. The revelation comes on the eve of the state GOP electing a new chairman.
Just hours after Republican officials declared the party $2 million in debt, former party leader Tony Sutton released a statement on his Facebook page saying the numbers reflect a hard fought election and campaign cycle, but that Minnesota is better off because of it.
The state's Republican Party on Friday disclosed new financial information, including $415,211 in debt that had never been reported. Party officials say they've found no evidence that anything illegal occurred, though, as the Star Tribune reports, the undisclosed debt could result in new fines. The party's outstanding obligations now total $2 million, including $700,000 owed to lawyers involved in the recount.
State Republicans meet in St. Cloud to choose among three people vying to be the party's next state leader. The person who takes over confronts a steep climb to steer the party through a crippling debt and a scandal that ousted their Senate leader.
Minnesota has borrowed more than $2 billion from its schools to cover recent budget deficits. A group of Republicans says now that the economy is stronger the state should pay off that debt with money in reserve. But Governor Mark Dayton says raiding the reserve fund could leave the state vulnerable if the economy heads south again.
College students in Minnesota carry the third-highest average loan debt in the nation, at $29,739 per student, according to a new report. And the state ranks No. 5 on a list of graduates who carry student loan debt – 71 percent. Nationwide, about two-thirds of students graduate with debt.