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Obama campaign, DNC end year in debt

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News,Nation

WASHINGTON (AP) — President Barack Obama's re-election campaign and the Democratic National Committee ended 2012 with large debts.

Campaign finance reports filed Thursday show Obama's campaign ended the year with $5.8 million in debt while his party's political arm, the DNC, owed $21.4 million. The two groups ended the year with a combined $7.5 million in the bank.

The Republican National Committee, meanwhile, ended the year debt-free and started 2013 with $4.7 million in its coffers.

Mitt Romney's presidential campaign has not yet filed its report with the Federal Election Commission. A report filed in December showed it had $12.9 million in cash through Nov. 26 and $1.2 million in debt.

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