Friday, March 21, 2008

Hillary Campaign "In The Red"


The latest FEC reports appear to suggest that the Hillary campaign may be in the red:

Despite a strong month of fund-raising in February in which she brought in $35 million, Senator Hillary Rodham Clinton finished the month essentially in the red, once her campaign’s outstanding debts are factored in, as well as her personal loan, according to filings submitted late last night to the Federal Election Commission.

After spending about $31 million in her efforts to keep up with Senator Barack Obama, Mrs. Clinton finished February with more than $33 million in cash on hand, but $21.5 million of that is earmarked exclusively for the general election, leaving her with $11.7 million for the primary.

Mrs. Clinton, however, loaned her campaign $5 million earlier this year and she listed $8.7 million in debts to various vendors, making clear why she has not yet paid herself back from her loan.

It should be noted, however, that Hillary isn't obliged to repay the $5 million debt to herself. Nonetheless, even factoring in that, once you subtract the other debts her cash on hand number would be in the neighborhood of $3 million.

By contrast, Obama has over $30 million on hand for the primary.

Here's where this really hurts: With the super-delegates. The Clintons' fundraising prowess has been one of the factors convincing the super-dels that this race isn't over and that they should wait out the contest. Revelations like this one could make it a good deal tougher to make this case.

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