The National Republican Congressional Committee has erased all of its debt but only had $2.67 million in the bank heading into the 2010 election year.

The Democratic Congressional Campaign Committee reported having $16.7 million in the bank as of the end of 2009 — more than six times the cash on hand of the NRCC. While the national mood may be in favor of Republicans, who recently won a special election in the Democratic stronghold of Massachusetts, the NRCC’s fundraising will have to pick up if it’s going to be able to support competitive races in dozens of House districts.

The GOP House committee will report raising almost $3.22 million in the month of December and spending about $4.89 million, including paying off $2 million in debt from the previous election cycle. The DCCC reporting raising $3.8 million in December, with $2 million in debt left over from 2009.