Hillary Clinton ended January with $7.6 million in debt – not including the $5 million personal loan she gave to her campaign in the run-up to the critical Super Tuesday elections, according to financial reports released Wednesday.
In contrast, Democratic rival Barack Obama’s campaign’s finances continued to be robust. He reported raising nearly $37 million and spending nearly $31 million. His cash balance was $25 million, of which roughly $20 million can be spent on the primary.
He reported a comparatively small $1 million in debts, owed largely to just three vendors.
According to the reports, Clinton raised about $20 million in January, including her loan. She spent nearly $29 million during the month.
She reported a cash balance of $29 million. But more than $20 million of that is money dedicated to the general election. Her personal loan accounts for more than half of the remaining approximately $9 million, leaving just about $4 million in cash raised from donors.
But even that money is illusionary when measured against the reported $7.6 million in debts.
More than $2 million of the red ink is owed to chief consultant and adviser, Mark Penn. But the lengthy laundry list of IOUs also includes unpaid bills ranging from insurance coverage, phone banking, printing and catering at events in Iowa, New Hampshire and California.
The more we learn about this campaign the more that we realize it is a campaign in free fall.
The only thing keeping this campaign afloat is the giant egos of Hillary Clinton and Bill Clinton. And they are putting their personal interests above the interests of the country.
It is time for Hillary to step aside and let Obama take his rightful place as our nominee for President.
After suffering a humiliating 10-state primary and caucus loss to Barack Obama, an increasingly desperate Hillary Clinton is preparing to swiftboat her rival by forming a well-financed 527 organization called the American Leadership Project (ALP) with the express purpose of unearthing negative information about Obama and using the information against him in the upcoming primary races in Ohio, Texas and Pennsylvania.
ReplyDeleteMarc Ambinder, of The Atlantic first reported that a pro-Clinton 527 had been set up. Per Ambinder, the group is “canvassing Clinton donors for pledges of up to $100,000 in the hope of raising at least $10M by the end of next week.
ALP has developed three ads aimed at pushing the idea that Barack Obama is a talker and not a doer. The ads are called “If speeches could solve problems” and they will contrast Obama and Clinton on issues of importance to middle class voters, such as the economy, health care, and the mortgage crisis.
ALP is being run by the following people:
Jason Kinney, of California Strategies
Mattis Goldman of SeaChange Media
Erick Mullen, a political consultant with ties to Wesley Clark
Paul Rivera, founder of Britton Marcy, LLC
Roger Salazar of Acosta Salazar LLC
The law firm representing the group is Remcho, Johansen & Purcell, LLC
Accounting is being handled by Nancy Warren of the San Francisco-based Warren & Associates LLC
SOURCE: ABC News