Clinton Has $30 Million in Debt, Will Likely Ask Obama For Help

[babylonsister]

http://talkingpointsmemo.com/news/2008/06/clinton_expected_to_look_to_ob.php

Clinton expected to look to Obama for help on debt

Hillary Clinton expected to seek help from Barack Obama in reducing $30M campaign debt

BETH FOUHY
AP News

Jun 05, 2008 18:47 EST


In politics, money talks. And money is likely to be an important factor in discussions between Barack Obama's advisers and the debt-saddled Hillary Rodham Clinton campaign.

Clinton will likely seek help from Obama in retiring her massive campaign debt, which has swollen to more than $30 million, including $11 million she lent the effort, advisers said Thursday.

The former first lady, who plans to bow out of the race and endorse Obama on Saturday, told donors she will raise money for Obama's campaign, both to help the Democratic Party's cash position and to expand the Illinois senator's prodigious fundraising base. Her advisers estimate the former first lady could bring in $50 million to $100 million for the general election campaign — and much more if she were named Obama's running mate.

The advisers spoke on condition of anonymity because they were not authorized to discuss the matter publicly.

Clinton hosted a conference call Thursday with her national finance committee, urging them to shift gears and begin raising money for Obama and for the Democratic National Committee, which will be coordinating fundraising efforts with the Obama campaign.

more...

[still_one]

1. I don't care as long as it is legal, and as long as he doesn't pick her as vice president

[no_hypocrisy]

2. Here's the thing(s):

1. Obama donors gave him their money with the expectation it would be allocated to his candidacy, not HRC's.

2. The money donated to Obama that wasn't allocated to the primaries is better spent on the general election. We'll need every cent of it.

[Virginia Dare]

5. If she agrees to pledge all of her delegates to Obama..

and we go into the convention as a unified force, and if she and Bill actively campaign for him, then it's all worth it, every cent.

[miles 2 go]

8. I agree and would also like to add...

that maybe if she had gotten her tired ass out when she should have, her debt would be much less. Take out a loan Hillary.

[papau]

9. Why is this nonsense posted? - no monies go to Hillary - Obama supporters attend Hill debt reduction

events - and that is it.

She has already given him her donor list and contacted her larger doners asking them to donate to Obama.

Man - DU's Hillary hate has no end.

[Virginia Dare]

3. Come Together Right Now...

I'm glad to hear about all the kumbaya'ing from these two.

[elocs]

4. I am sure that Obama would be willing to help

although some here will surely pop a blood vessel over the idea.

[samdogmom]

6. Wow! That debt grew FAST! Wasn't it $21 million at the end of May?

I truly can't believe anyone allowed her to do anything on credit in June...knowing the precarious state of her campaign finances. ME? I think the innocent long-time debt holders should be paid off first (Iowa suppliers). The last to be paid should be these silly people who let her have a venue or offered her services in June. She was broke! Why didn't you insist upon cash up front? If you didn't...consider it a campaign donation!

[muleboy303]

7. and the $23 million in her GE fund goes where?

all those MAX contributions of $4600
($2300 for primaries, $2300 for general election)
from way back when (she was "inevitable")
sure piled up.

[papau]

10. The GE fund monies are returned to those who made the contribution

[muleboy303]

11. always the caveats

when Clinton officially drops out of the race tomorrow, thousands of donors who contributed to her general-election war chest soon will be entitled to a refund. Under federal election law, Sen. Clinton must either refund the donations or, within 60 days, must write to each general-election donor requesting their permission to use the funds for her future Senate or perhaps presidential campaigns.

Hillary Clinton loaned her campaign a stunning $11.4 million, and could conceivably be able to use some of her general-election leftovers to pay off that debt. Here’s how the Center for Responsive Politics explained the law in an article in January:

“To pay off debts from their primary campaigns, candidates can tap general-election funds from contributors who didn't max out in the primary, with the donor's permission. If, for example, Hillary Clinton doesn't make it to the general election season, she'll have to go back to the donors who've given her at least $16.7 million toward November's election and get their permission to use it to pay off primary debts, transfer it to her Senate committee or use it in a future presidential campaign.”


http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=132x6303184

http://firstread.msnbc.msn.com/archive/2008/06/06/1120861.aspx

[Name removed]

12. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Swamp Rat]

13. How come you aren't fighting in Iraq?

Do you hate America or just the troops?