RNC treasurer says Steele hid $7 million in debt

A top Republican National Committee official is accusing Chairman Michael Steele of failing to report more than $7 million in debt to the Federal Election Commission to make its cash haul look healthier ahead of this year’s crucial midterm elections.

As first reported by the Washington Times’ Ralph Hallow, RNC Treasurer Randy Pullen filed amended reports with the FEC showing $7.1 million in additional debt from April and May that he says Steele and his aides conspired to hide from him.

If true, the RNC could face serious fines ahead of the midterms — an expense the committee literally can’t afford, as it has struggled to raise funds all year. Pullen aired his complaints in a memo to RNC budget committee members, who have already been concerned about Steele’s spending and money woes.

A RNC spokesman denies Pullen’s claims, saying the debts have already been paid. Still, it’s drama that the GOP doesn’t need. Whether the claim is true or not, the continuing flap over RNC spending undermines one of the GOP’s leading arguments heading into November: that Republicans are better stewards of taxpayer dollars. Democrats are bound to argue, if they haven’t already, that the GOP can’t talk up its commitment to fiscal responsibility if their party can’t even mind its own bank accounts.