Democratic Donations Keep Pouring In, but for Clinton, There’s a Catch

[DeepModem Mom]

NYT: Democratic Donations Keep Pouring In, but for Clinton, There’s a Catch
By LESLIE WAYNE
Published: March 22, 2008

....Of all the candidates, Democratic or Republican, Mr. Obama, of Illinois, is in the strongest financial shape. Of the $38.8 million in cash on hand, a total of $31.5 million is earmarked for the primary race, with only $7.3 million set aside for the general campaign. This primary war chest is more than Mrs. Clinton’s and Mr. McCain’s combined. On top of that, Mr. Obama’s campaign is almost debt-free. He ended the month owing only $625,059. Over all, Mr. Obama has raised $190 million since he began his campaign, and spent $158 million — the most of any candidate.

Mrs. Clinton, of New York, spent less in February — $31.8 million, or $1 million a day — in the weeks leading up to her March 4 victories in Texas and Ohio, than Mr. Obama — who spent $43 million, or nearly $1.5 million a day.

Still, at the end of February, Mrs. Clinton owed $8.7 million to campaign vendors. The month earlier, she had lent her campaign $5 million. While she has $33.2 million in cash on hand, only $11.7 million can be used for her primary effort, with the rest set aside, by federal regulations, for the general election.

Once the outstanding campaign debt of $8.7 million is factored in, Mrs. Clinton has only $3 million in free cash for the battles ahead — one-tenth of the $31 million the Obama campaign has in primary cash. This debt puts additional pressure on Mrs. Clinton: If she wins her party’s nomination, this $8.7 million can be paid off with money raised for her general campaign. If not, she will either have to raise more money to pay off the bills for her primary effort or pay for it out of her own pocket....

http://www.nytimes.com/2008/03/22/us/politics/22funds.html

[TwilightGardener]

1. The SD's should see that Obama is far more viable, financially.

[leftofcool]

2. Yea, that really worked for Romney

[TwilightGardener]

4. Was Romney also the frontrunner?

[ingac70]

11. Romney was self financed and never the front runner. n/t

[cyberpj]

3. I get it - that it's necessary in our current system. But I mourn what could be done with that $$$$

It's actually embarrassing that people get and spend that kind of money to pitch themselves to Americans. I know that's what it takes --- but I can't stop wishing it was different. And that we could be doing something better for the world with that kind of money.

[Misanthrope2]

6. And we will never be free of corporate fascism without

public financing of all elections. Much cheaper in the long run, too.

[cyberpj]

14. I know Biden was for that. Edwards? But I think it has about the same chance as term limits. None.

[40ozDonkey]

9. Think of it this way - $190+ mil now to stop $12+ bil a month. n/t

[cyberpj]

13. Ok. That does help a little. But then I'd have to believe they aren't going to steal it anyway. And

I don't.

[Misanthrope2]

5. Thank you for the article.

The other article by someone here just whacked away at Clinton's debt but did not give any specifics about Obama's admittedly stronger position. Thanks for an article comparing apples to apples.

[PATRICK]

7. Not all her big donors

will be backing her if she loses out of love and loyalty. The clout has passed and moved elsewhere. That also bodes ill for the Senate seat campaign where she will be target number one for the desperate GOP.
And if the party should go very very slow in promising to repay her debts incurred while dragging down the party and straining relationships and favors called in?

I hope, sincerely hope, that either as reality or as an excuse the party will make noise about soldiering on but pull back the fangs and funds and begin shifting things back to the party's benefit. Don't expect a sudden concession.

[juajen]

8. I believe a lot of this money is coming from republican coffers.

We need to think about the astronomical amount being raised by Obama in realistic terms. I know what Obama supporters will say, I just don't believe it. I read an article posted here that talked about his money and where it came from. Maybe somebody could reference it for me. I haven't donated, so don't have the means to look this up. I thought I had bookmarked it, but haven't found it yet.

[40ozDonkey]

10. Republicans giving $ to Obama?

OK, good. Let's spend their money to get back the power to undo their ills. Sounds great.

(proof?)

[BigDogDistrict44]

12. Not for my campaign :(

The Democrats in my neck of the woods show no support. Try winning a $150.000 campaign all out of pocket. Everyone wants to complain but no one stands with you when you do stand up!