Election over, but not the fundraising for Obama

The midterm elections may be over, but for President Barack Obama, the fundraising hasn't stopped.

Obama is headlining a fundraiser at a ritzy hotel near the White House to benefit the Democratic National Committee. The DNC says roughly 30 donors paid up to $32,400 each to attend.

It's Obama's first fundraiser since Democrats took a drubbing on Nov. 4, losing House seats and control of the Senate. Many Democrats blamed Obama.

Obama held dozens of fundraisers and raised millions for Democratic committees before the elections. But the DNC spent heavily to boost Democratic candidates and also opened a line of credit.

The Democratic Party now must start storing cash for the 2016 presidential race.