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June 03, 1982 - Image 5

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Publication:
Michigan Daily, 1982-06-03

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The Michigan Daily-Thursday, June 3, 1982-Page 5
Democrats out
of debt for first

"

"

time in
WASHINGTON (AP) - The
Democratic Party is out of debt for the
first time since 1968, but Republicans
have an $80 million edge going into the
1982 campaign.
The Democrats' debt-free status will
last only a few hours, however, since
the party has agreed to assume $600,000
of the $1.25 million owed by the Carter-
Mondale campaign committee at the
end of the 1980 campaign.
UNDER AN agreement negotiated
with former President Carter, the party
will take over the campaign debt and
Carter will participate in a number of
fund-raising events which should bring
in enough money to repay the debt with
some left over for the party.
The first event will be a $2,500-a-
couple dinner tonight which party of-
ficials hope will raise between $250,000
and $300,000.
The dinner will take place only a few
hours after Democratic Party leaders
hold a news conference to announce
retirement of the $9.3 million debt the
party had after the 1968 presidential
campaign.
THAT DEBT consisted of the money
owed by the presidential campaigns of-
Hubert Humphrey and Robert Ken-
nedy.
Humphrey was the 1968 Democratic
presidential nominee and lost a close
race with Richard Nixon.
The party agreed to repay the Ken-
nedy debt after the New York senator
was assassinated the night he was
declared the winner of the California
Democratic primary.
THE 1968 debts were run up before
there was public financing of presiden-
tial campaign. Four years ago, the
Federal Election Commission voted to

14 years
allow the Democrats to accept con-
tributions beyond the current legal
limits for the purpose of retiring the old
debt which was incurred before the
current limits were enacted.
While just getting out of debt is a big
thing for the Democrats, the
Republicans are up to their ears in
money.
The clearest contrast in the financial
gap between the two patties can be seen
in the 1982 budgets for their principal
committees.
The budget for the Democratic
National Committee is $8 million, com-
pared to the $38 million for the
Republican National Committee.
The comparison for the House cam-
paign committees is $37 million for the
Republicans and $6 million for the
Democrats. In the Senate, it is $20
million for the Republicans and $3.5
million for the Democrats.
In recent elections, when the
Democrats had clear majorities in both
the House and Senate and therefore
control over the flow of legislation,
Democratic candidates tended to make
up the national party fund-raising gap
in contributions received to their in-
dividual campaigns. Interest groups
couldn't afford to slight the people in
power on Capitol Hill.
UNISEX
Long or Short Haircuts
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DASCOLA STYLISTS
Liberty off State ........ 668-9329
East U. at South U....... 662-0354
Arboriand .............971-9975
Mapie Viilage .......... 701-2733

Daily Photo by JACKIE BELL
Fencing
The chain-link fence that borders Depot Road sorely needs someone to come along
and finish putting it up.

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