How About I Rewrite this NYT First Paragraph?

Republican Committee Fund-Raising Has Big Turnaround - NYTimes.com: "Once teetering on the edge of bankruptcy and irrelevance, the Republican National Committee has raised more than $110 million over the past 15 months and retired more than half its debt, accumulating large cash reserves that could give Mitt Romney a critical boost later this spring as he intensifies his campaign against President Obama."

'via Blog this'

The paragraph above assumes, I suspect in a careless, knee-jerk way, that the RNC was irrelevant and now is what - relevant? How can you accumulate large cash reserves when you still owe half your debt? Below is my more accurate declension of the reality.

The Republican National Committee has followed the course of its presumptive nominee and veered enough to the right to open the pockets of  donors who are salivating at the prospect of ridding the nation of President Obama. The RNC has as a result come halfway back from bankruptcy.

Charles Sanders Peirce - Thinking in Threes