Pete Peterson-aligned anti-debt group The Can Kicks Back is going broke

A group intended to rally millennials around raising taxes and cutting Social Security may need a bailout

Topics: Peter Peterson, Pete Peterson, The Can Kicks Back, Politico, The Huffington Post, Alan Simpson, Nick Troiano, Stan Druckenmiller, "grand bargain", Ryan Schoenike, Austerity, Fix the Debt, ,

Pete Peterson-aligned anti-debt group The Can Kicks Back is going brokeBillionaire activist Peter Peterson (Credit: Reuters/Larry Downing)

One of the seemingly countless number of Grand Bargain advocacy groups funded in part by billionaire Pete Peterson is experiencing a problem the United States never will: running out of money.

According to the Huffington Post (via Politico), The Can Kicks Back, a millennial-focused organization whose goal is to rally America’s young in favor of raising taxes and cutting Medicare and Social Security, “is operating at a loss and may run out of cash as soon as April …”

This information comes from internal emails and documents that The Can Kicks Back accidentally left in a public Google group. One November email from Nick Troiano, co-founder of the group, says, “Without someone/something else covering staff costs and without fundraising miracles like Stan or near-Stan happening consistently, I don’t know how we both sustain [an] organization and do meaningful things.”

The “Stan” Troiano makes reference to is Stan Druckenmiller, a wealthy hedge funder who donated $250,000 to the group in June.

However, The Can Kicks Back’s executive director, Ryan Schoenike, claims the email doesn’t accurately reflect his group’s financial standing. “A qualification from cherry-picked internal email months old is hardly representative of TCKB’s current financial situation,” he said to Politico.



“We are grateful for the support we have received and have revised our outreach, digital, and fundraising plans in order to continue our work of increasing millennial turnout in 2014 and beyond,” Schoenike continued.

But assuming Troiano’s email was legit (and besides Schoenike’s protestations, there’s no reason to think otherwise), The Can Kicks Back is going to need to think of a good way to quickly raise some dough. Perhaps former Sen. Alan Simpson, a high-profile supporter of a Grand Bargain, is willing to put on his dancing shoes one more time.

Elias Isquith

Elias Isquith is a staff writer at Salon, focusing on politics. Follow him on Twitter at @eliasisquith, and email him at eisquith@salon.com.

More Related Stories

Featured Slide Shows

  • Share on Twitter
  • Share on Facebook
  • 1 of 11
  • Close
  • Fullscreen
  • Thumbnails
    Rose Jay via Shutterstock

    Most popular dog breeds in America

    Labrador Retriever

    These guys are happy because their little brains literally can't grasp the concept of global warming.

    Hysteria via Shutterstock

    Most popular dog breeds in America

    German Shepherd

    This momma is happy to bring her little guy into the world, because she doesn't know that one day they'll both be dead.

    Christian Mueller via Shutterstock

    Most popular dog breeds in America

    Golden Retriever

    I bet these guys wouldn't be having so much fun if they knew the sun was going to explode one day.

    WilleeCole Photography via Shutterstock

    Most popular dog breeds in America

    Bulldog

    This dude thinks he's tough, but only because nobody ever told him about ISIS.

    Soloviova Liudmyla via Shutterstock

    Most popular dog breeds in America

    Beagle

    This little lady is dreaming about her next meal-- not Sudden Infant Death Syndrome.

    Labrador Photo Video via Shutterstock

    Most popular dog breeds in America

    Yorkshire Terrier

    This trusting yorkie has never even heard the name "Bernie Madoff."

    Pavla via Shutterstock

    Most popular dog breeds in America

    Poodle

    She is smiling so widely because she is too stupid to understand what the Holocaust was.

    Aneta Pics via Shutterstock

    Most popular dog breeds in America

    Boxer

    Sure, frolic now, man. One day you're going to be euthanized and so is everyone you love.

    Dezi via Shutterstock

    Most popular dog breeds in America

    French Bulldog

    He's on a casual afternoon stroll because he is unfamiliar with the concept of eternity.

    Jagodka via Shutterstock

    Most popular dog breeds in America

    Rottweiler

    Wouldn't it be nice if we could all be this care-free? But we can't because we are basically all indirectly responsible for slavery.

  • Recent Slide Shows

Comments

Loading Comments...