Hillary Clinton’s $19.5 million in campaign debt
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- May
- 21
Hillary Rodham Clinton’s presidential campaign committee ended April with $29.7 million in cash on hand, but also had $19.5 million in unpaid debt, according to a report filed with the Federal Election Commission overnight.
Barack Obama’s campaign, meanwhile, ended the same month with $46.6 million in unspent cash and only $2 million in unpaid debt.
For the Clinton campaign, the biggest single debt—aside from a $11.4 million loan from the candidate—was $4.8 million owed to Penn, Schoen & Berland Assoc. LLC headed by Mark Penn. Penn stepped down several weeks ago as Clinton’s chief strategist, but is still working for the campaign.
Terry McAuliffe, Clinton’s campaign manager, told reporters Tuesday night he’s not going to worry about paying down the campaign debt until after the last primaries are held June 3.
“As many of you know, I’ve been involved in a lot debt situations with the Clintons for a long time,’’ he said. “It’s never bothered us in the past and it won’t bother us in the future.’’
Last night the Clinton campaign reported raising $22 million for the month while the Obama campaign said it raised $31.3 million for the primaries and an additional $600,000 for the general election.
For the Clinton campaign, it was its second best month for raising money. For the Obama campaign, it topped the previous record.
This entry was posted
on Wednesday, May 21st, 2008 at 3:15 pm by Brian Tumulty.
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So, is it appropriate for Senator Clinton to be taking money from those of a young age, who don’t have a lot of money themselves, or generally are suffering from the current economy? How much of the small donors hard earned money is going to retire Senator Clinton’s debt to herself, Penn, and others who can afford the loss?
Is this why she’s still in the race?
Money?
could very well be…she loaned herself about 12 million
the only way to get it is before the election..but would
it be appropriate for obama to buy her support by paying
down her debt..I think that would show Obama is just
another chicago politician
Probably more palatable than what John McCain is setting up. Since McCain’s fundraising sucks, to put it bluntly, they’re setting it up so that McCain can get his funding from the RNC. The problem for Mr. Campaign Finance Reform Guy with that approach is that donors have no limits on how much they can donate to a committee, unlike those who donate to a candidate, who are limited to $2300 per year. So, McCain will be getting some VERY big donations not subject to campaign finance rules. Hypocrite much?