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James Boyce

James Boyce

Posted: February 6, 2008 08:22 PM

It's About The Campaign Economy, Stupid. Or Is It?


The news was, well, shocking.

Clinton acknowledged Wednesday that she loaned her campaign $5 million late last month as Obama was outraising and outspending her heading into Feb. 5 Super Tuesday contests.

At first blush, your reaction is where the hell did all the money go? I mean, sure, Mark Penn is as greedy a fat bastard as ever walked the earth, which, hand in hand with tragic incompetence makes him my top choice to go on a water and money diet.

Mark Penn's Firm Paid $4.3 Million By Clinton Campaign.

That's a lot of doughnuts, Mark. Thats about a million per blown major call, too, but I digress.

Your second thought is wow, this from a woman who said this:

"The next president will be a steward of our economy at a time when the bills from eight years of neglect and mismanagement will be coming due..."

And those bills from a year of neglect and campaign mismanagement are a pain in the ass as well.

Let's review some numbers,

In 2007, Senator Clinton raised $115,000,000 before the first vote was cast.

She also managed to spend $77,000,000 and if you have given her money, or are thinking about giving any candidate money, I would encourage you to take a moment and see where that money goes. Just click here for an expenditure breakdown.

In fairness, her spend seems reasonable compared to Bill Richardson's blowing of $23 million and Chris Dodd, my goodness, $16.5 million for a no-show in Iowa.

In looking at these end of 2007 reports, a completely different thought crept into my mind.

Hillary Clinton had $38 million on hand at the end of the year and then she raised $13 million.

Is it possible that she is going through $10 million a week right now?

$10 million?

Well, let me put it this way.

By law, candidates get the lowest rate on their media buys so even California becomes somewhat more affordable.

If their burn rate is $1.5 million a day, then they deserve to run out of money.

Or, perhaps, this is something else.

The Clinton Campaign will tell you -- when Hillary is attacked or down, their supporters come through. They rally -- they were raising a million dollars a day between Iowa and New Hampshire and things were looking bad.

Others will tell you that they don't want Hillary to buy the White House, and people screamed when she raised all that money last year.

Maybe, just maybe, they are flipping Obama's fundraising success back on them.

Maybe, just maybe, they are stealing the thunder from Baracks's numbers.

It would be a brilliant move -- and one that will raise Hillary a ton of money, fast.

Let's see which it is -- stay tuned for more reports.

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09:52 AM on 02/07/2008
I think we've come to the point in our lives where only TV matters. All the candidates have made umteen personal appearances all over the country. There can't be anyone in a conscious state of mind who doesn't know who the hell's running. Yet the candidates still have to spend millions upon millions to get - what? to get noticed? to get their message heard? what the hell is it they need to get that they can ONLY get from TV? I think the answer is: they need to get certified. I'm half tempted to believe that the average Mr or Ms Voter, upon returning home from hearing the candidate(s) in person, will run immediately to turn on the TV to make sure the person they just heard really, trully, certifiably was the person actually running for office. How else to explain the almost mythical quality of TV ads?
08:49 AM on 02/07/2008
How much has Obama spent
08:14 AM on 02/07/2008
Which of the candidates so far have NOT had to make their staffers work for FREE?! Let's see, John Edwards was the only one to refuse money from lobbyists & special interests. He was outspent 10 to 1 by the other two, and yet budgeted his money, never ran out, actually spent some to raise public awareness on votes the current Congress was about to make, and STILL remained competitive in the race. McCain blew all his money and was schlepping his own bags for a while. Now Clinton's got people working for her for free. WTF??? HOW are these people going to balance OUR budget when money runs through their fingers, then they expect people to work for them for FREE? Like we really need more of that!
03:57 AM on 02/07/2008
This is a Poll-tested ploy, and it worked. I donated $100 to OBAMA today and he's at $6.75 million now. This is similar to her teary-eyed plea before NH.
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HUFFPOST COMMUNITY MODERATOR
indypete
03:56 AM on 02/07/2008
Campaigning has simply become too expensive whether it's Hillary, Barak, McCain, Huckabee or Mickey Mouse, the financial finagling is simply off the scale of reason. That's why we need public financing, free use of the airwaves (public airwaves aren't they?), true equal time rules and strictly volunteer only campaign workers. How many schools and hospitals could be built with the millions that are spent trying to convince us that Al Capone is a better bet than Lucky Luciano? How many wounded vets could be helped with the money that goes into private jets, limos and 5 star hotel suites? How many poor kids could get a bit of health care for the money that goes into TV companies' ad sales departments?
10:04 AM on 02/07/2008
(public airwaves aren't they?)Of course THEY are free, but what about the cost of putting material onto them? Why do you think hardly anybody watches public access and even PBS? You're answer to everything. Make everyone pay. These are the same people when Jay Leno shows them a pix of Obama, Hillary, McCain and Romney they can't say who it is. These are the same people that can't find Canada or the Indian Ocean on a map. A nation of idiots and now you want to give the politicians a free ride on my dime. Get you hands out of my pockets bud.
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HUFFPOST COMMUNITY MODERATOR
indypete
01:14 PM on 02/07/2008
I'll make a deal with you... I'll get my hands out of your pockets over the campaign thing if you'll get your hands out of my pockets in Iraq. I don't want my money spent on the artificial inflation of prices via the death of young, mostly poor, Americans and the indiscriminate killing of innocent folk in the mid-east. Do I have a choice in how this money is spent? King George says no. INLO, as I understand it, Jesus (the poster boy of the right-wing) says we're all in this world together... how come it's only the left that seems to listen to Him? By the way... produce your map and challenge me to a geography duel, I dare you!
01:50 AM on 02/07/2008
I thought I read that she had $13 million at the end of the year.

That $13 million was left over from her Senate campaign. So she was broke at the end of the year.
01:43 AM on 02/07/2008
Oh and giving money to her friends doesn't help. Maybe HRC could get more bang for her buck if she didn't rely on the companies of her Hillaryland group. Seriously.
01:41 AM on 02/07/2008
Eh I think she was paying people to blog, if you look at the mis. media expenditures, you see that they gave money for endorsements to some African American news papers in Iowa and SC.
11:02 PM on 02/06/2008
Right on Pad'na, as usual.
As Plan-B ended up standing not so much for "Bill" as for "Bummer's Return to the WH" and her 2nd crying game didn't fly, we now shift to Hillary as "Financial Underdog". Get that: a broke Rodham?
But...where DID Hillary get $5,000,000.00 to loan?

You funny guy.
Keep on keepin'it, Noble Mon.
10:12 PM on 02/07/2008
Well, she is here in Washington State....and now has the endorsement of Cantwell and the soccer mom. I wish she had just been honest as to why she needed to "loan" her campaign money....where did she get 5 million? I hear she is working for the middle class, well, I am very middle class and I dont have 5 mil in my checking account, which brings me to another point. honesty...she has not spent 35 years campaigning to become president nor has she held public office for that amount of time, honesty...when Billy took office she was supposed to lead the "health care reform"....if she was such a great leader, why are we still talking about Health Care REFORM?
Because she failed. And, she forgives Bill, gee...lets ask the victims of 9-11 if they forgive those that flew those airplanes into the buildings? Oh, I forgot, she has a human side, so she will just cry the next time somebody attacks our nation, or better yet she will go on public record as saying "well you worked for a slum lord", neaner neaner you bad bad boy. And, if you talk to me like that again I will get my big bad mouthy husband to talk trash about you. She cant even balance her own campaign budget and she is qualified to handle ours? Lets just get "REAL" as the great Dr. Phil would say. This gal even paid people to twist up OBama's words, like she could afford that expense.
10:53 PM on 02/06/2008
I've been wishing someone would follow the numbers all day. I wish there was a way to tell now if there was some level of play at work here.
10:47 PM on 02/06/2008
if that is the case, i must say thats brilliant! not only that, she's gaining sympathy and it gives her campaign the look of insurgency and puts obama firmly in the favourite spot, so every small victory from this point on will look like winning aginast the wave!
02:05 AM on 02/07/2008
Yea but she claims it was her money, and people want to know where it came from (Singapore?) I mean you can say Bill's book (in that case it isn't her money) but Obama wrote two books that were a lot more successful and he doesn't have millions. Plus there is a question of how much money the Clinton's have. If it is 10 million then 5 is a pretty steep and maybe a little selfish, if it is 50 million or more, then there are real questions that need to be answered. Some reports are saying that it was really 18 million, if that is true, then maybe the Clinton fortune is more on par w/Romney's 200 + million fortune.

It isn't brilliant it is arrogant caculated and poll tested.
It will backfire..
09:54 PM on 02/06/2008
Frankly I don't believe her. This is ruse. I think her campaign is setting up a good narrative. She's lowering expectations, acting like an underdog, and she's designating herself as the insurgent against the well financed front-runner. Therefore any victory will be considered an upset. It is imperative to double your involvement and donations for Obama to ensure he wins all the primaries in Feb. I'm making phone calls tomorrow.
HUFFPOST COMMUNITY MODERATOR
BitJam
09:27 PM on 02/06/2008
Or maybe, just maybe they inspired Obama supporters to raise $5 million in just one day.

http://my.barackobama.com/page/community/post/samgrahamfelsen/CGGpp

When I posted this they were already over $480,000,000.
HUFFPOST COMMUNITY MODERATOR
BitJam
09:27 PM on 02/06/2008
Opps, I meant $4,800,000.
11:08 PM on 02/07/2008
A hundred million here a few hundred million there and pretty soon we're talking about real donuts, eh BitJam?
08:47 PM on 02/06/2008
A candidate that doesn't buy his/her way into the White house or politics for that matter.. wow, what kind of world would that be!?
Too bad John Edwards WAS the only one to have the mettle to try it.
I guess the US is still for sale..now if I can only get enough to buy back my freedom.