Wisconsin residents have often heard that the Democratic National Convention could pump $200 million into the Milwaukee and state economies, but will it?
The Democratic Party’s track record for running conventions includes checkered payment history and high debt. All recent Democratic conventions have ended in deficits, including $6 million of expenses left unpaid at the Charlotte convention in 2012.
With a $50 million federal stipend for security, an estimated $70 million in private funding and a $20 million line of credit from private sources, organizers hope to cover all convention expenses. Recently, the DNC committee announced it had raised $25 million in private funds so far, surpassing its goal of reaching $20 million by the end of 2019.