AP: Clinton’s campaign “in the red” — debts exceed cash on hand

The March FEC reports have been posted for the presidential campaigns. Obama’s is here. Clinton’s is here. McCain’s is here.

At the end of February, Clinton’s campaign was in the red when her debts and loan to herself were factored in. It appears that at the end of March, her financial situation has worsened. In fact, at the end of March, Hillary Clinton’s campaign debts alone exceeded her cash on hand. That’s quite stunning for a campaign that was supposed to be built on fundraising prowess.

As of March 31, 2008, Clinton reported cash on hand totaling $31,712,197.67. However, that’s not the real number — a good chunk of that money, over $22 million, can only be spent in the general election. The Associated Press is even reporting that Clinton is in the red:

Clinton reported raising $20 million in March and had $9 million for the primary available at the beginning of April. But she also reported debts of $10.3 million, putting her in the red.

To be exact, the campaign owes debts totaling $10,321,562.87 — and that doesn’t include the $5 million loan she made to the campaign. Mark Penn’s firm is owed over $4.5 million.

Further proof that Clinton’s fundraisers and donors should have been spending their time raising money instead of attacking Nancy Pelosi and Howard Dean.

Obama raised over $40 million in March — and had cash-on-hand for the primaries of approximately $42 million.

Meanwhile, John McCain continues to break the campaign finance laws. After Tuesday we can start to focus much more attention on that.

On October 27, 2010, Joe was one of five bloggers who interviewed President Obama. Joe is a DC-based political consultant with over twenty-five years of experience at both the state and federal level. Joe has managed political operations and legislative efforts for both candidates and issues-based organizations. For seven years, he was the Director of State Legislation at Handgun Control, Inc. He served as that organization's first Political Director during the 2000 cycle. Joe is a graduate of the University of Maine School of Law. In addition, he has a Masters in Public Administration from Lehigh University and received his B.A. from the University of New Hampshire. Joe also has a fun dog, Petey, a worthy successor to Boomer, who got Joe through eight years of Bush and Cheney. Joe likes to think he is a world class athlete having finished the 2005 Chicago Marathon in the time of 4:10. He has completed six other marathons as well -- and is still determined to break the four hour mark.

Share This Post

© 2014 AMERICAblog News. All rights reserved. · Entries RSS