Clinton Campaign In $20 Million Of Debt, Campaign Chair Says Clinton Could Lend More Money

The Washington Post reports on another grim news event for Hillary Clinton: confirmation that her campaign is $20 million in debt.

With her campaign falling ever deeper into debt, Sen. Hillary Rodham Clinton spent a rainy Mother's Day seeking votes ahead of Tuesday's primary here, turning a deaf ear to calls for her to leave a Democratic presidential contest she has little hope of winning.

Clinton aides continued to insist that she will remain in the race even while confirming that she is $20 million in debt. "The voters are going to decide this," senior adviser Howard Wolfson said on "Fox News Sunday," acknowledging the $20 million figure. "There is no reason for her not to continue this process." Wolfson said he has seen "no evidence of her interest" in pursuing the second-place spot on the Democratic ticket, contrary to rumors that she is staying in the race to leverage a bid for the vice presidential nomination.

Campaign Chair Terry McAuliffe suggested Clinton might lend her campaign more money:

Terry McAuliffe, the Clinton campaign chairman, told Tim Russert on "Meet the Press" that he spoke to Clinton about the possibility of contributing more money and "she said that she would be willing to do it." However, McAuliffe insists, "We haven't needed it."

Comments

[IkeChicago]

This is a must read, it appear that Hillary's Ad man is sticking it to her, a case of revenge. This is what happens when you don't pay up.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=132x5930322

[NightRider]

You can't make this up. Hilarious!

[ObamaEdwards]

Excellent. Maybe she will run through her entire fortune.

[standforpeace]

Hillary Clinton is demonstrating an astonishing lack of fiscal responsibility, and one suspects that it is predicated on the belief that Obama will ultimately bail her out in exchange for her support. However, this deep into a campaign season, a campaign that cannot sustain itself fiscally is suffers from both mismanagement and the lack of the deep support that would drive Americans to reach into their wallets. If Hillary cannot read this handwriting on the wall, she should not be rewarded for her refusal to bow out gracefully so that Obama and the Democrats can spend their time working toward the general election. Why should Obama be expected to take time away from the general election fight and efforts to assist Democrats who are running this fall to do fundraisers for an opponent who racked up debt trying to tear him down long after it was clear that she was the loser.

As for talk of an Obama/Clinton ticket, what message would it send for the candidate of change if his first and most important decision as a presidential candidate is to install the ultimate Washington insider and face of the Democratic establishment as his running mate?

[lobear00]

If Obama were to bail her out of her own mess, Obama would indeed be quite the "Fool.

[Softnsweet]

if those West Virginians stop toting those guns and do some research, maybe their vote will change when they see the true Clinton.

[TrevorAlan]

SHE'S the candidate who will pull this country out of its financial indebtedness?

She's the candidate so popular no one will donate to her anymore?

Plus, look up in the HuffPost archives to remember what a great steward she was of her early monetary lead.

In someways this fundraising debt is a focus on the horserace side show... but in some ways it shows some troubling weaknesses.

[huffnpuffn]

In spite of the odds, in spite of being broke, Hillary is still spending. How does all this square with the reported negotiations with Obama about covering her debt? I'm all about Christian charity, but it's just bad parenting to pat your kid on the head and make it all better after he maxes out his credit card. Especially when he's maxing out his credit card buying arson supplies to burn down your house.

This is nuts.

[standforpeace]

yep.

[BJTabor]

She's hardly maxed out her credit card. She has something like $100 million so $20 million is hardly going to bankrupt her personally.

[NightRider]

I am sure the MSM have gotten paid for Ad buy. None of them are reporting that she owes them money.

However, the little guy is getting crushed.

Exactly who does she owe?

[the964kid]

Hillary runs her campaign finances like MC Hammer. They obviously spent a lot more then they had. I'm glad she won't be running this country.

[huffnpuffn]

Don't look to her to curb deficit spending if she becomes president. Thank goodness that possibility has all but disappeared.

[OtayPanky]

ANybody who claims that this is proof of Hillary's inability to run the executive branch of government is being unfair.

It's not her fault that she's $20MM in the hole, owing at least half of that to Mark Penn.

It's not her fault that Barack has come out of nowhere to beat a political machine that's got 35 years of history behind it.

It's not her fault that she's got the highest negatives of any candidate EVER.

It's not her fault that the super-delegates are breaking away from her, even though she's winning against Barack among the hard working white voters.

None of it is her fault. She is a victim of circumstances entirely beyond her control, and she deserves to be President regardless.

[ThunderclapNewman]

One can only hope you meant this as snark.

[jgalvan]

mosdef

[WIpatriot]

And it's not her fault that her supporters aren't giving her more money.

[Freedomscap]

Remember in one of the debates (I think it may have been the CA debate), it was mentioned about the management style of the candidates. And Obama was criticized for admitting that he wasn't a good manager. And now look where we are.

[BJTabor]

Yes, look were we are; Hillary has a $20 million debt. That shows you Obama's kind of management; just stand by while your opponent makes mistake after mistake. Show me one point in the campaign were Obama showed real leadership with Hillary Clinton's finances.

[the964kid]

"It's not her fault that she's $20MM in the hole, owing at least half of that to Mark Penn."

Who's fault is it?? Are you serious??! Hillary hired that fool Penn at a salary of something like $5 million per month! And look at the bang-up job Penn did. Gimme a break! Hillary is the executive of her campaign, the buck (should) stop with her. Her debt is 100% her fault. She's not ready to run the executive branch. Period.

[MouthFountain]

You aren't going to win any of these conversations! Just let them spend, and question the reasons they lost themselves.

Personally, aside fro her vote for war, I find her campaign to be a very good reason to not vote for her. No planning, not financial responsibility, highly negative... Obama won for a reason.

[BMBTHC]

Irony, the964kid, irony.

[CurrerBell]

I know. Only cowards cut and run. All these Birkenstock-wearing, Hamas-loving, Volvo-driving Obamabots can just take their elite math to Starbucks to do a bunch of intellectual budgeting and figuring on their fancy laptops. We hard-working white Americans will just stay the course.

Hillary '08

[MouthFountain]

No brains, no headaches!

[IamPhenom]

It's funny. As the Hillary campaign went on, I went from being a sexist for not supporting her, to now being called an "elitist" who should just vote for her because there are lots of racists who will never support a black guy.

If your entire case for being our President is based on smearing the other candidate and their supporters, you're never going to win (ask Mitt Romney). She should have talked more about her vision for America and her own leadership qualities, and less about why you should be afraid of the black man and his fancy education.

Her flawed campaign strategy is what has destroyed her. It doesn't surprise me that Mark Penn believed Democratic primaries were winner-take-all (instead of the proportional split). That's why they only focussed on the big states. How stupid do you have to be to have a top advisor who doesn't even know the basics of how the delegates are split?

[Tropiholic]

currer you don't speak for anyone but yourself. who is "we"? i don't see anyone here who would like to be in a group with you

[Softnsweet]

CurrerBell,

ROFLMAO, you sure hit the nail on the head. I love Birkenstock, Volvos and I definitely love Obama and Michelle.

Hamas on the other hand is what you heard McCain say and come to found out it is one of his people that is actually working with Hamas.. go figure!

It is typical of you untellectually, undernourished and leftside of the bell curve Hillary supporters to get it wrong.

[tantip]

Just wait until her big WV win and she gives her victory speech telling her WV supporters we did it and she couldn't have done it without them even though everyone knew she would win WV and it doesn't change the math at all she still has lost.

It's just funny to me that the big time Clintons let this get away from them. When Obama had his 12 straight winning streak going on he won by such a bigger margin in a lot of those states that she just couldn't catch up to his delegate lead.

I'm looking at how she has run her campaign, she is in debt by Millions of dollars and she's loaning her campaign millions of dollars, I mean if she can't handle her campaign finances then how can she handle the economy?

[combatveteran]

Are donations from Obama's supporters really going to pay her debt?

[VermontObama]

No. That would be illegal. At most he would hold fundraisers with her, where he'd be the main attraction but the money would go to her.

[dollphingurl]

that can't happen legally, but he could ask people to support fundraisers.
the interesting part is, why should we contribute when we didn't help her run up the debt in the first place?

what, are they gonna pass a Clinton Tax Bill?

[Brinkman]

No. Legally the Obama campaign can give the Clinton campaign $2000. Anymore is illegal.

[Softnsweet]

Obama did not campaign in West Virginia.

[hughlont]

According to AP, Obama camp has scheduled a meeting with Christie Todd Whitman, former Gov. NJ, frmr EPA sec. Additionally, the website obamawhitman2008.com was purchased just yesterday... might be an interesting wrinkle...

[SamanthaJaneSalem]

Obama's campaign is frugal-- and has good taste. There's just about only one reason to stop in Woodburn, Oregon, and that's to go to Luis's Taqueria where he stopped for lunch on Friday. The best Mexican food ever, and only $3 for a taco. Si se puede!

[jgalvan]

Do they serve gallina con chile colorado there?

[SamanthaJaneSalem]

I'm not sure, but it's very authentic.

http://www.statesmanjournal.com/apps/pbcs.dll/article?AID=/20080510/ELECTION03/805100338/1103

[swooge]

I can get tacos on the street corner in Dallas for $1 each and who ever heard of Oregon having good latin food?

[jgalvan]

That's right, keep spending money like a drunk sailor.

[KillTheMessenger]

It's a great demonstration of her sense of fiscal responsibility, though. Speaks volumes.

[Freedomscap]

I noticed in the link that someone here posted, that the campaign has paid Hillary back interest on the money she loaned to the campaign.

For me, that speaks volumes about her integrity, given that she owes others. It seems it would be reasonable to pay off your debts first before paying yourself interest. However, that isn't the way to become a millionaire, presumably.

[VolvoBirkenstock]

When you make a personal loan, the IRS will tax you on the interest when you pay it back, whether you charge interest or not.

[Freedomscap]

Understandable. However, when one is talking about these kind of figures, funny accounting principles seem to occur, quite frequently.

[TrevorAlan]

probably true, to be a true "loan" you would have to earn interest. But can't a person spend all of their own money on campaign without limit?

And it is something for the average working person to know when they donate a hard earned $100 to the candidacy of a millionaire.

[CurrerBell]

I'm glad none of my money wll be going for her "self-interest". To be fair, I think it is really low - something like 1.5%, to stay in line with the cost of living. But the way things are going with the economy, she'll definitely lose out there.

[Janel]

I've read that the Clinton's have a net worth of $100 to $200 million. For them to loan $20 million is no big thing. . .but it speaks to their desperate need to win back the White House.

[combatveteran]

Spending 1/5 of your net worth is huge. They want it back, and its the fault of Obama's supporters that they spent it. Obama's supporters should pay the Clintons back.

[busybeez]

Hillary needs to start doing a lot more fundraisers, instead of campaigning. Maybe she hopes after WV people will donate online.

[ButterflyWeed]

If one believes the demographics of her base of supporters, it's a stretch to envision them going online with a charge card to support a losing battle. Perhaps they'll send IRS rebate checks to her cause?