WASHINGTON -- Newly elected Republican National Committee Chairman Reince Priebus took the job with $23 million in debt and cut a third of the staff he inherited from his predecessor, the controversial and gaffe-prone Michael Steele.
In year-end federal finance reports on Monday, the GOP central committee showed that $2 million of its debt came during Steele's final two weeks as he sought to keep hold of his chairmanship. The Democratic National Committee, meanwhile, reported a continued fraction of that debt but had enough cash in the bank to pay off the loans immediately.
