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DNC Fundraising Dropped Sharply in July

The Democratic National Committee says it raised $6.7 million in July, down from $12.2 million in June and $10.5 million in May.

While still ahead of Republicans it was the DNC's lowest monthly amount since President Barack Obama launched his re-election campaign in April, a month where the committee raked in $14 million in contributions. Obama cancelled some fundraisers during the month because of negotiations with congressional Republicans over the debt ceiling.

The party's fundraising includes $2.2 million for the Obama Victory Fund, a joint fundraising account by the DNC and Obama's campaign. Obama did not personally attend any fundraisers in July and Democratic officials said most of the victory fund money came from events held by first lady Michelle Obama, Vice President Joe Biden and others.

Obama's campaign and the DNC raised $86 million during the spring fundraising quarter ending in late June, giving it a substantial lead on the Republican presidential field. The party paid down about $600,000 in debt, but Democrats still owe about $11.2 million to creditors. The DNC currently has $20.1 million in the bank.

Obama's campaign had said it does not expect to raise as much in the summer as it did during the spring because of the cancelled events. National Journal notes that professional fundraisers will admit both July and August are usually less sensational months for fundraising, given people's vacation schedules.

The Republican National Committee has reported to have raised $6.1 million in July and has $7.6 million in the bank, about $300,000 more than it had last month. National Journal reports that that figure could have been higher, but the RNC spent big bucks on a four-week advertising campaign to try and protect Republican state senators in Wisconsin who faced recall elections.

RNC Chairman Reince Priebus has tried to reduce the party's large debt since taking over for former chairman Michael Steele in January. RNC officials estimate that they inherited $24 million in debt when Priebus started as chairman, an amount that has been reduced to less than $17 million.

Separately, the campaign arm of the House Democrats raised $4 million during the month, while their Republican counterparts raised more than $3.8 million. The Democratic Congressional Campaign Committee ended the month with $8.1 million in the bank and $4 million in debt. The National Republican Congressional Committee wrapped up the month with $11.2 million in cash on hand and $2.7 million in debt.

In August, Obama has held fundraisers in Chicago, New York and Washington.

The Associated Press contributed to this article.

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