The Democratic Senate Campaign Committee raised $730,000 in the last six months, but are expected to report $1.45 million worth of debt, their spokesman said this afternoon.

The campaign committee has $750,000 in cash on hand.

Still, Senate Democrats note that despite the debt, they’ve managed to raise more than $3 million this election cycle and since falling into the minority.

And the hefty debt that remains should come as no surprise.

Chairman Mike Gianaris, D-Queens, has said the money raised now is going directly to candidates and field work, not debt service. The message is loud and clear: our money isn’t going to pay down a loan.

Of the money raised by Democrats, $50,000 of that came from a Gianaris transfer.

But Senate Republicans scoffed at the fundraising top lines.

“The numbers Democrats are crowing about are anemic, even by minority party standards,” said Senate GOP spokesman Scott Reif. “Two years ago, when Republicans were in the minority, we had nearly $2.5 million on hand and no debt. Democrats have little cash on hand and are deep in debt. Their formula is not a winning formula.”

Republicans indeed have the lion’s share of cash and resources this year. They have reported $4.5 million in a campaign committee war chest, plus an extra $979,741 in a housekeeping account.

Senate Majority Leader Dean Skelos has $2.1 million in his campaign account and no challengers.

But Senate Democrats hit back, saying the GOP is “dealing in fantasy.”

From spokesman Mike Murphy:

“As usual, Senate Republicans are more comfortable dealing in fantasy rather than reality. Despite the abuse of their majority status to rake in special interest money, the cash-on-hand advantage for Senate Republicans has remained roughly the same as it was in January, putting Senate Democrats on a competitive footing as we move into the political season.

Today, our candidates throughout the state have filed six-figure fundraising totals in their own right, further supplementing our ability to communicate with voters about the dangerous and extreme rightward tilt of the Senate Republicans. We agree with Governor Cuomo that this state will not tolerate a party that caters to the extreme ultra conservative wing of the Republican party.

Instead, voters want to return Democrats to the majority by a nearly 20% margin because they want a party in power that supports women’s rights, protections for working people and safeguards for the environment. Senate Republicans have unanimously opposed each of these measures and will pay at the ballot box for being out of touch with everyday New Yorkers.”

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