The Democrats seem to be successfully clawing their way out of debt, according to Federal Election Commission paperwork filed Sunday.

As the Associated Press reported:

The Democratic National Committee is carrying just $3 million in debt — a significant reduction in its onetime $23 million tab.

The DNC said in forms due Sunday that it raised almost $9 million last month and began July with almost $7.8 million in the bank.

At the end of July 2012, the DNC reported almost $4.8 million in red ink, but that number ballooned to a high of almost $23 million in March 2013 as bills for President Barack Obama’s re-election came due and donors tired of giving.

The AP reported that the Republican National Committee, which is carrying zero debt, also faced a Sunday deadline for FEC paperwork, but had not filed at the time of writing.

Democratic National Committee chair, Rep. Debbie Wasserman Schultz, D-Florida, laughs along with other party members as Phoenix Mayor Greg Stanton pokes fun at how much time the DNC chair spent in Arizona during the last election cycle, during their summer meeting on Friday, Aug. 23, 2013, in Scottsdale, Ariz. Credit: AP

Democratic National Committee chair, Rep. Debbie Wasserman Schultz, D-Florida, laughs along with other party members as Phoenix Mayor Greg Stanton pokes fun at how much time the DNC chair spent in Arizona during the last election cycle, during their summer meeting on Friday, Aug. 23, 2013, in Scottsdale, Ariz. Credit: AP

According to FEC records for the 2014 cycle, the DNC has outspent the RNC $235 million to $219 million so far while outraising Republicans $309 million to $280 million.

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