RNC $23 Million in Debt

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The Republican National Committee is deep in debt as it prepares for the 2012 election cycle, new Chairman Reince Priebus announced Monday. The committee's year-end financial report will show $21 million in debt through year end, but a more up-to-date total is closer to $23 million. That's about $8 million higher than previously reported.

The new chairman has reportedly asked for the resignation of Steele's senior staff and cut one third of the staff he inherited from previous RNC Chairman Michael Steele. He's named two powerful GOP operatives to lead his transition effort. Ed Gillespie, a former chairman of the Republican National Committee and a counselor to George W. Bush, will be named transition chairman. Nick Ayers, a strategist who ran the Republican Governors Association, will serve as transition director.

Related articles

• The Caucus: Gillespie, Ayers to Lead RNC Transition (thecaucus.blogs.nytimes.com)
• RNC Debt At $23 Million As It Gears Up For 2012 (huffingtonpost.com)
• RNC's Big Debt Problem: How To Pay Off $23 Million? (blogs.abcnews.com)