The problem with spending other people’s money is that eventually, it runs out.
Democrats canceled a political convention kick-off event at the Charlotte Motor Speedway and will move the activities to Charlotte’s main business district, the convention’s host committee announced.
“While we regret having to move CarolinaFest away from our great partners at the Charlotte Motor Speedway and the City of Concord, we are thrilled with the opportunity that comes with hosting this event in Uptown Charlotte,” said Dan Murrey, the executive director of the Charlotte in 2012 Convention Host Committee.
The move comes as party planners are grappling with a fundraising deficit of roughly $27 million, according to two people familiar with the matter who requested anonymity to discuss internal party politics. With a party ban on direct contributions from corporations, the host committee has raised less than $10 million, well short of its $36.6 million goal, said one of the people.
The Convention has also been shortened from four days to three. The hosting North Carolina Democratic Party is in complete disarray after a gay sexual harassment scandal and unpopular one-term Governor Beverly Perdue–who suggested the 2012 Presidential elections be cancelled–opted not to attempt to retain office.