‘$1-billion disaster’: DNC official blasts Harris’ White House bid as ‘epic’ loss — says she raised ‘millions,’ now has to be accountable to friends. 3 things to learn from the Dems' woes

“The truth is, this is just an epic disaster — this is a $1-billion disaster,” Li remarked during an interview with Fox & Friends Weekend.

According to data from OpenSecrets, which monitors campaign finance and lobbying, Harris’s campaign committee raised a staggering $1,003,158,590, with outside groups contributing an additional $649,163,464, bringing the total to over $1.6 billion.

Li claimed that part of the amount was borrowed, driven by the belief that the race would be close. But the result was fairly lopsided in favor of Donald Trump, who won 312 electoral votes to Harris’s 226, reclaiming critical swing states like Pennsylvania, Michigan, and Wisconsin.

And now there may be some buyer’s remorse among Harris campaign donors, according to Li, who says she raised millions herself, and finds herself accountable to friends and other donors who are seeking answers.

“They’re $20 million or $18 million in debt.” she said in the interview. “It’s incredible, and I raised millions of that. I have friends I have to be accountable to and explain what happened because I told them it was a margin-of-error race.”

Li said her confidence was bolstered by Harris’s campaign chair, Jen O’Malley Dillon, who consistently assured supporters of a favorable outcome: “Jen O’Malley Dillon promised all of us that Harris would win. She even put videos out that Harris would win. I believed her, my donors believed her and so they wrote massive checks,” Li recounted.

As the DNC grapples with the financial aftermath of an unexpectedly costly campaign, their experience offers valuable lessons for personal finance. Here are three key takeaways from the party’s apparent money woes that can help Americans keep their own finances on track.

Beware of overspending

The Harris campaign, despite its billion-dollar budget, exemplifies how even the best-funded efforts can spiral out of financial control.

In a bid to craft a star-studded image, the campaign organized high-profile events packed with celebrities and didn’t shy away from big-ticket expenses. FEC filings reveal, for example, that the Harris campaign made two $500,000 payments to Oprah Winfrey’s production company Harpo Productions Inc.

While these high-profile moves grabbed headlines, they ultimately didn’t translate to victory. This underscores how overspending — even with good intentions — can lead to disappointing outcomes.

For everyday Americans, the lesson is clear: keeping spending in check is crucial to financial health. While it may be tempting to splurge on things that elevate status or provide short-term satisfaction, unbridled expenses can quickly lead to financial strain.