Obama campaign, Democratic National Committee ended election year in debt

President Obama's campaign organization and the Democratic National Committee both finished 2012 in debt, according to newly filed reports with the Federal Election Commission.

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The DNC had $21.4 million in debt and $4.3 million cash on hand after struggling with fundraising near the end of the campaign. 

While campaign committees often wind up in debt after big elections — and the DNC borrowing did help Obama win the presidency — the amount puts Democrats in a tough position. The Republican National Committee has slightly more cash on hand and no debt heading into the 2014 midterm elections.

Obama for America, which is transitioning into an outside advocacy group called Organizing for Action, finished the year with $5.9 million in debt and $3.3 million cash on hand. 

The new group will be able to solicit unlimited donations, which could help quickly put it on strong financial footing.

Some DNC members have worried publicly that the new OFA will compete with them for resources, and these numbers show why they're concerned.