Pelosi wants the president’s help in getting the DCCC back in the black. Pelosi to Obama: Help on DCCC debt

House Minority Leader Nancy Pelosi has asked President Barack Obama to help pay off the $14 million-plus debt owed by House Democrats from this past election, according to Democratic sources.

Pelosi met privately with Obama at the White House recently, and this issue was among the topics the two discussed, Pelosi’s office confirmed.


“The leader’s meeting with the president was strictly official business. On their way out of the meeting, there was some lighthearted political banter,” said Drew Hammill, Pelosi’s spokesman.

White House officials declined to comment on the Pelosi-Obama meeting or whether the president plans to help out House Democrats with their debt.

Both Pelosi and Senate Majority Leader Harry Reid (D-Nev.) sought millions of dollars from the Obama campaign early in 2012, as the campaign season was heating up, POLITICO reported on March 5.

But Obama and his top campaign advisers, fearing a tidal wave of GOP super PAC spending — correctly, as it turned out — refused to provide any financial help to the DSCC or the Democratic Senatorial Campaign Committee.

Now, with Pelosi staying on for another two years and Obama safely reelected, the California Democrat wants the president’s help in getting the Democratic Congressional Campaign Committee back in the black.

According to its latest disclosure report, the DCCC owed $10 million on a loan from Bank of America. The DCCC also owes another $4.2 million to its vendors. The committee has $2.5 million in cash on hand as of Nov. 26.

Obama for America has debt of $7.2 million and still has $5.4 million in cash.

Pelosi has backed Obama in his battle with Speaker John Boehner (R-Ohio) and GOP congressional leaders over the looming fiscal crisis. While clearly concerned about proposed cuts to popular entitlement programs like Medicare and Medicaid, Pelosi has played what Democratic insiders are calling “a constructive role” in the talks so far, both publicly and privately.

If there is an agreement that ends up raising taxes, both Boehner and Obama will need House Democrats to back it on the floor. Without Pelosi, that support won’t happen.

One of the major reasons for Pelosi staying in power another two years — despite widespread speculation that she could retire — is her fundraising prowess. Pelosi raised $85 million this cycle for the DCCC, and over her career, she is one of the most successful fundraisers — if not the best — in House history.

But with the DCCC already $14 million in the hole, and a potentially tough election cycle looming in 2014, Pelosi is looking for some presidential help to jump-start the campaign committee’s efforts.

Obama, Vice President Joe Biden, and first lady Michelle Obama would all be major draws for an Democratic incumbent or challenger next cycle.

Pelosi also has history on her side. In 2008, Obama for America gave $5 million each to the DCCC and DSCC. Sen. John Kerry (D-Mass.), who ran unsuccessfully for the presidency in 2004, also transferred $3 million to the DCCC and DSCC respectively.