Romney Campaign Borrowed $20 Million in August, Has $11 Million Debt

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Just borrow from your parents.

Pro-Romney super-PACs may be flush with cash, but a disclosure by a senior Romney aide reveals that in August, the campaign itself actually had to take out a $20 million loan against the general election contributions it couldn’t yet access in order to increase its cash flow.

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We realized that we could collateralize this debt with $20 million of general-election funds that were already sitting in our bank account,” a senior Romney aide told National Review Online. “This is permitted by Federal Election Commission rules. In the past, the FEC has specifically contemplated candidates putting up their public financing payments as collateral.”