April 21st, 2008
01:21 PM ET
7 years ago

Clinton's primary campaign begins April in debt

Hillary Clinton began the month with $10 million in debt.
Hillary Clinton began the month with $10 million in debt.

(CNN) – Hillary Clinton began one of the most crucial stretches of her presidential campaign in debt, newly disclosed financial reports show.

According to campaign reports filed with the Federal Election Commission over the weekend, the New York senator began the month of April with close to $32 million cash-on hand. But only $9 million of that total are funds that are able to be spent in the primary races. The report also showed Clinton owes more than $10 million, meaning the Democratic presidential candidate was in the red even before she heavily stepped up television advertising in Pennsylvania.

"The numbers are what they are," Clinton adviser Howard Wolfson said on a conference call with reporters. "The money continues to come in strongly. We had a very good month last month of fundraising…we are continuing to have a good month this month."

We will of course be honoring the debt in the coming weeks and months," he also said.

The newly released reports offer the clearest picture to date of just how much of an advantage Barack Obama holds over Clinton heading into the final stretch of the prolonged Democratic race for the White House.

According to the reports, he began the month with over $42 million to spend during the presidential primaries and only carried around $650,000 in debt. Obama has $52 million cash on hand overall.

As has already been disclosed by both campaigns, Obama more than doubled what Clinton raised in the month of March: $41 million to her $20 million. The Illinois senator's stunning haul brings his presidential fundraising total to date to $235 million - $60 million more than what Clinton has raised in the same time period.

John McCain lagged both Democrats in March fundraising - pulling in $15 million in that time period. He began the month with $11.6 million cash-on-hand and, a debt of just over $700,000. He's raised a total of about $75 million.

The report also shows he gave back nearly $3 million from donors for his general election campaign. This move could indicate he is setting the stage to receive public financing for his campaign - an option that will infuse the Arizona senator with $84 million.

(12:45 p.m.: Updates with Wolfson comments)

soundoff (773 Responses)
  1. Emily

    Oh oh, here come the torrent of Hillary supporters! I wonder how they will attempt tell us that Obama is going down now? Burn baby, burn!

    Barack the vote!

    April 21, 2008 11:08 am at 11:08 am |
  2. ENN

    Why does CNN put Hillary "Rove" Clinton on the Larry King Show night before the Penn primary?

    April 21, 2008 11:08 am at 11:08 am |
  3. Mack

    I thought Hillary was financially responsible, so if she is in
    debt now what will the country look like when she is president.
    Think about it!!

    April 21, 2008 11:09 am at 11:09 am |
  4. Hillarious!

    This is starting to feel like a left out scene in the Wizard of Oz. We all see you behind the big green curtain. Pay your employees and get out.

    Go Barack! YOU rock!

    April 21, 2008 11:09 am at 11:09 am |
  5. Carol Owen

    Let me get this straight...HRC wants our votes so she can improve the economy, install universal health care, etc., etc., etc., Good grief. Her campaign is more than $10 million in the hole. This is the woman who wants to run our country????

    April 21, 2008 11:09 am at 11:09 am |
  6. Stephen

    If anything Clinton's campaign is better orgainized than Obamas. She has spent so much less than him, yet she is very close to be tied with Obama. That is getting value for money.

    Obama's campaign is being irresponsible with the money they are spending. 9 million in tv ads? Of course Hillary has to increase spending to stay competitive.

    Just think about how quick Obama will be willing to spend your tax dollars as president, the change that people can expect is more pork-barrell projects.

    April 21, 2008 11:09 am at 11:09 am |
  7. Liz

    An indication of the kind of president she would make? I hope she drops out soon so that the real candidates can get on with it.

    April 21, 2008 11:09 am at 11:09 am |
  8. TJS

    So. I just hope all supporting Obama are prepared to keep dishing out the money to pay for all he is supporting. Of course WE all will have to because our taxes will be through the roof. I think all of us here in PA are getting used to running our homes on small budgets, getting by and not operating in the black most of the time. So we can relate. No, not a Hillary supporter or Obama. I don't want or need all the new taxes that will come with their programs. I think it shows Obama likes to spend money that is given to him and that is how he will be spending our tax money also, and it will continue to raise our taxes.

    April 21, 2008 11:09 am at 11:09 am |
  9. JACK

    WE ARE GOING TO THE BITTER END OF THIS RACE–LIKE IT OR NOT. YOU ALL CAN BRAG ALL YOU WANT ABOUT HIS MONEY. HE'S STILL COMES OUT A LOOSER.

    April 21, 2008 11:09 am at 11:09 am |
  10. Kathleen

    No surprise, considering that she is morally bankrupt. This is a good indicator of how she would run the country. Obama in '08! Yes, WE can!

    April 21, 2008 11:09 am at 11:09 am |
  11. Tampa Voter

    "Men lie… Women lie….Numbers Don’t"

    LOL – Whoever said that took the words right out of my mouth. All of this math = Desperation period

    April 21, 2008 11:09 am at 11:09 am |
  12. David, Silver Spring, MD

    Think of donations like tax revenue. You get in a certain amount and you spend a certain amount. Hillary, like GW Bush before her, is spending far more than is coming in.

    Obama, like Bill Clinton before him, is able to spend less than he's taking in.

    The Obama campaign suggests an Obama presidency would help pull the country out of debt. HRC would drive us deeper into debt.

    April 21, 2008 11:10 am at 11:10 am |
  13. Peter R

    She is running her campaign in the red..... Imagine how she will run our country??????

    Wake up and end this joke!

    April 21, 2008 11:10 am at 11:10 am |
  14. Mo S

    You can't manage a campaign budget so no way you will be able to fix the economy. It's obvouis!

    Go Obama!!!!

    April 21, 2008 11:10 am at 11:10 am |
  15. Alexandra

    And you want to trust her with running a country?
    She will increase the US debt if she gets into the whitehouse.
    Think people!
    Obama or McCain 2008

    April 21, 2008 11:11 am at 11:11 am |
  16. natalie

    Clinton is a joke! She is a sore loser ............Go Barack!

    April 21, 2008 11:11 am at 11:11 am |
  17. Emeka

    I think this piece of news would spur HRC's supporters to donate more to her campaign. But i wonder what kind of supporters these are, considering her support base is among older voters (baby boomers with huge savings and investments)? NC and Indiana should take note, if PA cant bail us all out of this primary contest.

    April 21, 2008 11:11 am at 11:11 am |
  18. Peter R

    Sell some Wamart stock Hill!

    April 21, 2008 11:11 am at 11:11 am |
  19. Lydia

    Is she going to loan her campaign another $5 million and collect the interest on that too?

    April 21, 2008 11:11 am at 11:11 am |
  20. Yankee Dog

    If she can't handle the finances of her campaing, how can we expect her to handle the economic issues that face the country? Time for her and Bill to either loan her failed campaign attempt more of their new found wealth, or for her to get out of the race!

    April 21, 2008 11:11 am at 11:11 am |
  21. Shrimp Barnicles

    AVOID THE FOLLOWING STOCKS:

    [1] Bear sterns>> mortgage crisis

    [2] UPS>> high gas prices

    [3] Hillary Clinton's campaign>> no strategy, ethical issues, debt.

    April 21, 2008 11:12 am at 11:12 am |
  22. Emeka

    I think this piece of news would spur HRC's supporters to donate more to her campaign. But i wonder what kind of supporters these are, considering her support base is among older voters (baby boomers with huge savings and investments)? NC and Indiana should take note, if PA cant bail us all out of this primary contest.

    Emeka, South Florida

    April 21, 2008 11:12 am at 11:12 am |
  23. mike

    Gee – most people slow down on spending when money is tight. Clinton speeds it up. What arrogance.

    April 21, 2008 11:12 am at 11:12 am |
  24. Nora

    Hmmm, if she can't manage her campaign debt, what make the American people think that she can handle the economy of the USA. Oh, I guess Bill will be the expert on this area for her. And to think that the media is reporting that older voters may old the key to a possible win for HRC. Welll young people better come out in droves before their parents have us screwed in another 8-16 years. So the saying that older is wiser, is not always the case. Older could mean higher case of dementia.

    April 21, 2008 11:12 am at 11:12 am |
  25. Dan (TX)

    Surprise, surprise! Wow, Hillary you are an expert in economics! Your fiscal leadership is amazing. In debt – again. This speaks volumes for you to be "ready on day 1" to figure out a way to repay your campaign debts.

    Perhaps Billy will "loan" you some of his millions made from foreign interests?

    You have every right to stay in the primary process – as long as your campaign pays it's bills. Not doing so is FRAUD! Cough up the dough or go home!

    April 21, 2008 11:12 am at 11:12 am |
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