20 June 2008

Hillary's Campaign Debt $22.5 Million... the Battle of #2

per the AP... Clinton ends May with $22.5 million debt
WASHINGTON (AP) — Democrat Hillary Rodham Clinton has reported a $22.5 million debt at the end of May, more than half of which is from personal loans to her presidential campaign. The former first lady, who ended her campaign June 7, received contributions of $12.6 million in May. She lent her campaign nearly $2.2 million during the month, bringing her total personal investment in the campaign to $12.175 million.
Clinton had $3.4 million cash on hand left for primary spending.
She also had $23.3 million for the general election, money her campaign cannot use to pay off her primary debt.

I believe the AP is quite incorrect about the Clinton campaign's ability to use that $23Million+ to pay off her primary debts, though it does require sending letters to donors asking permission to use it for that purpose. (letters which have already been sent) And depending on how much the Clinton campaign spent in June (especially on the endorsement/capitulation/suspension "speech/party") with over $3Million in cash on hand, and not counting what she owes herself, the total debts to vendors should be less than $8Million. (stiffing Mark Penn might save another $5Million if press reports are accurate) Leaving only a few million dollars owed, which should easily be taken care of with the GE funds via "permission slips". (or a book deal or a few speeches in Dubai?)

At least now Obama will not be required to "help" Hillary pay her debts, leaving more money to help his and other Democrat's campaigns via the "50-State" strategy.