February 7th, 2008
06:13 AM ET
7 years ago

Clinton loans herself $5 million

Clinton said Wednesday she loaned her campaign $5 million in January.
Clinton said Wednesday she loaned her campaign $5 million in January.

NEW YORK (CNN) — Democrat Hillary Clinton loaned her presidential campaign $5 million in January, the New York senator said Wednesday.

"I loaned the campaign $5 million dollars from my money," she said at a press conference at her Arlington, Virginia headquarters. "I loaned it because I believe in this campaign and I think the results last night proved the wisdom of my investment."

Earlier Wednesday, Clinton spokesman Howard Wolfson confirmed reports Clinton had lent her campaign money in January, and said "The loan illustrates Sen. Clinton's commitment to this effort and to ensuring that our campaign has the resources it needs to compete and win across this nation."

The news comes days after Barack Obama's campaign announced it had raised $32 million in January alone. Clinton campaign Chairman Terry McAuliffe later said the Clinton campaign raised less than half that in the same period — about $13.5 million. The $5 million Clinton loaned to herself was in addition to the $13.5 million she raised.

In his statement Wednesday, Wolfson also said Clinton's Super Tuesday victories have brought in a fresh wave of campaign cash.

"We have had one of our best fundraising efforts ever on the Web today and our Super Tuesday victories will only help in bringing more support for her candidacy."

According to Clinton's latest Federal Election Commission report, had roughly $18.5 million cash on hand that could be spent during the primary season heading into January’s initial contests.

News of Clinton's loan came the same day the campaign sent out a fundraising e-mail to supporters with the goal of raising $3 million in three days.

"We had a great day yesterday," the e-mail said. "Now we must keep that momentum going. You have sustained me throughout this journey, and I am calling on you again to give our campaign the resources we need to win critical upcoming races."

UPDATE: CNN's Candy Crowley confirms some senior Clinton campaign staff members have agreed to go without pay for a month.

Related: Watch Clinton tout Tuesday's outcome

More 

– CNN's Alexander Mooney and Adam P. Levy


Filed under: Uncategorized
soundoff (79 Responses)
  1. Arnold - PA

    The Clinton machinery is a spent political force. In spite of Bill's advocacy for her wife and Hillary's clout, they see their campaign slowly dissolving before their eyes. America is tired of politics as usual – the kind of politcs that the Clintons represent. Right or not, the people are seeing Obama as a "new kind" of politician. Plain and simple Hillary represents the past. Obama is the future.

    February 7, 2008 01:48 pm at 1:48 pm |
  2. Randy G

    I have complete faith after visiting Hillary's site and donating that we'll be able to support Hillary for as long as it takes to Win the Nomination and White House. Only Hillary can do that. Why is Obama wanting to back out of pre Ohio Debate (according to the AP)? I guess now that his "Dog and Pony show is gone" He's afraid his inexperience will cause him to make too many rookie mistates. He takes a good game but doesn't say much! God Bless America!

    February 7, 2008 02:16 pm at 2:16 pm |
  3. andy

    Upper income earners support Obama, lower income earners support Clinton. It should be to no ones suprise that Obama is raising more money. Obama is the flavor of the moment for the rich folks, they really don't care about his lack of experience or knowledge of the complex issues facing the next president. Lower income people don't have the time to waste on a empty suit with fancy talk, they need help right now and they know Clinton is by far the most knowlegable and experieced candidate who will not need someone to hold her hand to make the tough decisions to move america forward

    February 7, 2008 02:53 pm at 2:53 pm |
  4. Randy

    Andy:
    Experience is not all its chalked up to be if you just take a look at Bush and all his cronies with '100 million' years of EXPERIENCE – they have completey distroyed this country! If only they had taken into consideration the WISDOM of Barak Obama! We would be a lot better-off today. A wise man like Obama not only knows how to seek knowledge but how to use it to the country's benefit. This is where is most qualified to be president. Not to mention his ability to unite individuals of varying mindsets around a certain cause. This is the skill that Hillary lacks and that would work to her defeat in the White House. She would be as polarizing as George Bush. Our country simply cannot afford another 4 years of deadlock. It's CRITICAL now!!

    February 7, 2008 03:39 pm at 3:39 pm |
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