View Full Version : Elections AP: Clinton's campaign "in the red" -- debts exceed cash on hand

04-21-2008, 01:56 PM
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.