It takes a lot of money to be defeated in politics, and the Democratic Party fears it is headed there in next week’s runoff election for Georgia’s U.S. Senate seats unless it gets more donation money.

NBC News obtained a “sounding the alarm” joint memo in which the campaign managers for Democratic candidates Jon Ossoff and Raphael Warnock gave a last-ditch pitch for a “significant increase” in donations to keep up with the spending of their Republican incumbents, Sens. David Perdue and Kelly Loeffler.

“To win this election in eight days, we need to continue our historic efforts to turn out every single voter—but we won’t be able to do that if our fundraising revenue continues to fall,” Warnock campaign manager Jerid Kurtz and Ossoff’s campaign manager Ellen Foster wrote in the memo.

NBC reported that Warnock and Ossoff have out-raised their opponents significantly with more than $100 million collected over the past two months, but that Republican outside groups are outspending Democratic groups.

Senate Minority Leader Chuck Schumer vehemently denied NBC’s report that he stopped meeting with donors for fear of runoff election losses hurting donor relations. Winning both seats would swing Senate control to the Democrats and give President-elect Joe Biden the policy cooperation of both houses in Congress.

“Schumer has diligently made calls and fundraised for both Georgia candidates and is optimistic about their chances in January,” Schumer spokesman Justin Goodman said.

With the Georgia Secretary of State’s office reporting more than 2 million early votes cast, both Senate races are considered toss-ups leading up to the Jan. 5 election day. Every dollar, er, vote matters.

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