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. lugina

    TEDDDDD-KERRY..OPRAH...LOL

    GO HILLARY 08

    February 7, 2008 11:59 am at 11:59 am |
  2. Inquiring Mind

    Maybe Mrs. Hillary should barrow some money from Obama ! haha
    "Yes We Can"

    February 7, 2008 11:59 am at 11:59 am |
  3. Jatts4Clinton

    Not a big deal for Mrs. Clinton. She performs way better on debates than Oba-Ma. McCain will have a very tough time is she is the candidate, while he can take Oba-Ma pretty easily. Wonder why Oba-Ma camp is not accepting the debates challenge from Clintons camp, are they worried that he might not perform well!

    Obama better suited for 2016. I would prefer the next eight years with the Clintons.

    February 7, 2008 12:00 pm at 12:00 pm |
  4. AboutToCryAgain?

    Why is she whining? I don't see Romney whining, and he's financed his campaign himself. Too bad Hillarys' supporters are poor, uneduated and senile and can't help her out.

    February 7, 2008 12:01 pm at 12:01 pm |
  5. S Williams

    Mabuhay America says "Isn't Britney Spears a phenomenon."

    Well so is Martin Luther King, so is Ghandi, so is Nelson Mandela.
    See my point, it makes no sense to compare Obama to King, Ghandi or Mandela. Just as it makes no sense to compare him to Britney Spears.

    Your point was irrelevant – it made no sense at all.

    February 7, 2008 12:01 pm at 12:01 pm |
  6. Sherri

    AJ is right . Look no further than Exelon to see that since 2006 Exelon has contributed over $700,000 to Obama's warchest. This Obama is not what he seems. Do some research people. How can anyone support a candidate that so little is known about? He is deceptive.

    February 7, 2008 12:02 pm at 12:02 pm |
  7. David, Gilbert

    I wonder what interest rate Ms. Clinton is charging herself on her loan. Could it be that Hillary ends up making a profit on loaning her campaign money while her staff goes unpaid?

    February 7, 2008 12:02 pm at 12:02 pm |
  8. denise

    So much for Obama's accusations of Hillary taking donations from lobbyists and big corporations..Looks as though it is Obama who is not only being supported by the $150,000 and up income but it looks as though he is getting some pretty huge chunks from corporations .. Just goes to show you that it is poor people that trust in Hillary.

    February 7, 2008 12:04 pm at 12:04 pm |
  9. Mark Austin TX

    I forget who said it, but I think the best description of the differences between Obama and Clinton is that "Clinton is running as the anti-Bush; Obama as the un-Bush".

    Clinton's politics may be the opposite of Bush, but her APPROACH to politics is the same hard-headed my-way-or-the-highway partisan and divisive approach that we have seen during 8 years of Bush. Obama's approach is fundamentally different, more inclusive and much, much less divisive.

    After 4 years of Mrs. Clinton in the white house, all of Washington will despise working with her, and secret back-office deals would dominate our politics.

    After 4 years of Obama, there would be LESS animosity in Washington, not more. And the public would know MORE about how their government really worked, not less.

    Wake up America!

    February 7, 2008 12:04 pm at 12:04 pm |
  10. Ann

    Hillary'08!

    February 7, 2008 12:05 pm at 12:05 pm |
  11. joli

    wow way to unite dems sounds like a united party… beating each other up when the other is down on cash… lol… btw both Hillary and Obama have big Companies behind them…whether you want to call it Pak money or not…lol

    Im am a Ron Paul supporter…we invented the money bomb… The $$$ never really got us that far. Im proud to say I never once laughed at Ron's rival Reps who had cash struggles… ie Huckabee and McCain. Sad to see you guys go all Lord of the Flies on each other… guess the Dems are not as united as I thought. Their support of one candidate is based on their "hatred" of the other…

    seriously Ive tried posting this 3 times... to no avail...what the f is up w/ you people...

    February 7, 2008 12:05 pm at 12:05 pm |
  12. Charlotte

    .
    I hope all Hillary supporters will donate to her campaign. I have, and will again. I have never donated to a campaign before and I'm 63 yrs old. I support Hillary because she can look you in the eye when she speaks to you. She has town hall meetings where people can ask her questions. She is not a pulpit politician. She is strong and can take the heat that is yet to come. The issues are very similiar, the only real difference is substance. I don't see any in Obama. He needs someone constantly at his elbow to guide him. Oprah to excite the crowd, for his pulpit speeches. Take away the hype and there is no substance, he is not JFK.

    February 7, 2008 12:06 pm at 12:06 pm |
  13. Mike

    I can't say it's money well spend.. Question: How many more millions of her $$$ does she still have or willing to part with?? If she doesn't get the results she want, is she going to CRY about it???

    February 7, 2008 12:06 pm at 12:06 pm |
  14. Andrew Goff

    I love and support Barack Obama and detest the way politics have been.

    Therefore...

    If Hilary wins the nomination I will vote for McCain.

    Also...

    Why was Bill Clinton in Kazakhstan?

    Hmm...

    February 7, 2008 12:08 pm at 12:08 pm |
  15. denise

    I would like to see a statement as to who gave so generously to Obama.....His big long accusing finger pointing at Hillary about lobbyists and large corporations will probably get broken.

    February 7, 2008 12:08 pm at 12:08 pm |
  16. JAMES DUCKWORTH

    THE ONLY CHANGE POSSIBLE IS WHEN WE SET TERM LIMITS TO THE SENATE AND CONGRESS
    OR WE WILL GO ON FOREVER WITH THE SAME OLD $ HIT
    IF THEY ARE AN INCUMBENT VOTE THEM OUT

    February 7, 2008 12:08 pm at 12:08 pm |
  17. Midge from Ohio

    So what? It's her money and she can do what she wants with it.....

    February 7, 2008 12:08 pm at 12:08 pm |
  18. Kevin

    Wouldn't this money be better spent on the needy of America?

    February 7, 2008 12:09 pm at 12:09 pm |
  19. Mabuhay America

    I am an asian with a WOMAN president. I firmly believe that having a woman

    president will unite ALL diversities in this country. as a mother loved her

    children is a way WOMAN PRESIDENT would fight for her countrymen. I have

    nothing against any candidate but I find it very disturbing that race and

    gender issue are brought up during this very important point of your lives.

    race and gender does not make any sense at all. it is on your candidate who

    will STAND on the REAL ISSUES that are needed to be resolved. God Bless

    America...

    February 7, 2008 12:10 pm at 12:10 pm |
  20. Mike

    If America votes for Hillary, could we possibly see Laura Bush take a run for the Whitehouse? If Hillary why not Laura? Let's keep the dynasty going, shall we?

    February 7, 2008 12:12 pm at 12:12 pm |
  21. AC

    Listen closely to Clinton and Obama sound bites:

    Obama uses "We", Clinton, "I".
    Enough said.

    February 7, 2008 12:13 pm at 12:13 pm |
  22. therealist

    All that money the Saudi's have been giving Bill, no doubt. And who here still believes the Clinton's are above the special interest groups??

    February 7, 2008 12:13 pm at 12:13 pm |
  23. Mark Cross Junction VA

    Lend yourself the money? Hmmmm She must not be confident in herself that she will win or she would just give herself the millions. But I guess the idiot will be supported by idiots that will keep giving her money.

    February 7, 2008 12:15 pm at 12:15 pm |
  24. TrueIndependent

    IHow can she manage our national budget if she can't manager her own campaign budget? She has again demonstrated poor judgment and decision making. Bad Return on Investment.

    February 7, 2008 12:17 pm at 12:17 pm |
  25. AC

    Pam uses an appropriate metaphor, "wagon".
    It would have not rolled at all if she had not hitched on a guy she knew was going places.

    February 7, 2008 12:17 pm at 12:17 pm |
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