Clinton campaign debt now at $6.4 million
[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2008/POLITICS/12/21/clinton.debt/art.clintondebt.gi.jpg caption="Hillary Clinton says she hopes to have her campaign debt paid before her possible confirmation as secretary of state."]
WASHINGTON (CNN) - Secretary of State-designate Hillary Clinton had $6.4 million in presidential campaign debt at the end of November, according to a report filed Saturday with the Federal Election Commission.
The amount, though still significant, represents the lowest level of debt the New York senator's failed presidential campaign has reported this year. Clinton's campaign debt reached its peak, $12 million, at the end of June and has gradually fallen since then.
Clinton said she hopes to pay off her debt before her possible confirmation as secretary of state.
Clinton has also officially forgiven the $13.2 million she personally loaned her campaign. Under the McCain-Feingold campaign finance law, presidential candidates who loan their campaigns money from personal funds may only be paid back if they do so by the national party convention - in this case, the Democratic National Convention held last August in Denver.
Clinton began November with $985,000 in her campaign account and raised nearly $290,000 by the end of the month. Her campaign paid out $1.2 million, mainly to unpaid vendors, ending the month with $188,000 in the bank.
The $6.4 million in remaining debt is owed to a total of 16 creditors.
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Irregardless of the candidate or party; is it not crazy that people have to go millions of dollars in debt to seek the highest office in America. I don`t pretend to have the perfect solution; but everyone should have a level playing field where the candidate with the best ideas/vision would win the day. Unrealistic and utopian? Yeah, probably. But it is sad that those who lack the finances/connections are having the door slammed in their face from the beginning.
I can't wait to see Hillary in her new role, she will be great for Obama's agenda. I hope the senate confirmation don't become a battle ground for negativity because Hillary is an exciting choice for Sect of State.
I'm thankful it's her debt and not mine. Unlike many Americans, she has a job. Unlike many Americans who need protection of the court, she can be thanked for voting to strip those protections. I wish her all the best.
Haters in 1.2.3
Anyways... I hope people will now shut up and realize Hillary is not paying herself back and that she is paying back small venders and she is just doing what she is legally able to do fundraise until she is confirmed and if she is confirmed and the debt isnt paid I am sure she will be paying the small venders. She can stiff mark penn all she wants for all I care.
@Henry Miller: As someone who has worked for a PAC, a presidential campaign, and now works in the private sector but does work for campaigns, I'm relatively certain those 16 creditors are unpaid vendors as well. Vendors, be they mail houses or web developers, always get the shaft towards the end of fiscal quarters or the end of the campaign.
I hope she pays the small business vendor first. As far as owing any money to Mark Penn, she should tell him to go whistle.
I voted for Obama because I did not want A Clinton in the White House and now she is going to be SOS. So disappointed in Obama for appointing her.
Henry Miller, Cary, NC
After losing to Barack, Hillary was in debt to the tune of
about $20 Million, included in this total was millions
owing to Mark Penn, so maybe he has not been paid
in full, and a huge chunk of the current $6.4 million may
still be due to Penn?
Hillary would have won the nomination if the Democrats would have allowed Michigan and Florida to vote in a regular way. It still gets me every day how the Democrats just cut off those two states. Hmm, interesting that those two states favored Hillary in big numbers...
I was a financial contributor to Hillary's campaign even though the only phone calls I got were from Obama's campaign. However, I voted for Obama in the general election. Hillary should remain as senator and then see if Barack Obama will still help her to get out of debt.
The Obama government the best government money can buy, or pay off, or pay to play. Or what ever it is today.
The US citizens need to put a cap on how much a presidential candidate can raise. Look at how much money the Democrats threw out there to get their candidates into office and how much of that money came from special interest groups with their own private agendas.
irritated in FL,
Them words sound like republican talk to me. I doubt you were ever a Hillary supporter, or a democrat for that matter. You are nothing more than a republican still trying to follow the lead of idiots like Rush trying to stir trouble. If you want to be irritated at something, be irritated at the fact that it was republican public officials in Florida that gave us the mightmare called W. Bush to begin with.
Hiliary will be good as Sec. of State . . . she will NOT have to BALANCE ANY BUDGETS!
The Clintons could come up with 6.4 million by checking under the seats of their car. Or have Bill give a speech on the success of NAFTA
She will not be hurting. Remember, she loaned her campaign money. She never intended donating a cent to her campaign. She is greedy. Bill is making plenty of money by selling out to the Arabs so she will be owing them favors.
Hillary-no reason to pay those fools that cost you the election--especially Penn who was critical in helping you to lose the 20 point lead you had over Obama-
But Hillary, please do not run the State Dept. like you ran your campaign–we can't afford it-
For those of you who aren't informed enough to understand, she CAN'T just pay that debt off from her personal wealth. Neither can Bill. It's against campaign finance law. So at least on this account you lose your opportunity to slam the Clintons. I'm sure you'll find another reason, though. Obsession is forever, I hear. *rolling my eyes*
Republicans are such idiots, you LOST now get over it.
All you dumb bunnies out there who think the other campaigns ended with a positive cash flow need to do a little research. Obama is probably the only candidate who ended the campaign with a big surplus. A few others might have ended close to the break-even point. Many others are still paying off debts just like Clinton.
irritated in Fl - grow up. Quit being a whiner. You sound like the proverbial "If I can't be the captain, then I'm going to take my ball and go home" whiner. Politics is a tough, expensive, bruising arena– sometimes your guy wins & sometimes he doesn't.
Henry in NC– have you bought any TV times lately or paid for TV ads to be created?? Have you chartered any big planes lately to criss cross the country? None of it is cheap. Quit trying to look for some non-existent boogey man. Those numbers sound pretty much along the norm for national campaign creditors.
A lot of posters on these blogs need to spend a little time reading & doing some research before engaging mouths.
Barack has been selfish. He should have paid this debt from his own campaign money. Besides, Barack wants to have a bi ceremony for his inauguration. If he wants to be accountable then he should not have such celebration, our nation is in economic difficulties so he should cancel such celebration. I do not believe that his crowd of advisors will not give him common sense because everybody wants to make money at tax-payers expense.
I almost starting crying when I read this story. How come Obama didn't pay off her debt? Wasn't that the deal for her supporting him, or just another broken promise from the Obamasiah? Why doesn't Hillary just ask Billy to pay it off for her, I hear he has $400-500 miilion from his shake down of foreign countries and pardon beneiciaries. Maybe the Saudi Royal family could give her the money directly to pay it off without going through Bill before she's confirmed as SOS?