Hillary Clinton is in financial trouble. According to the Los Angeles Times, her campaign was late in filing financial reports because they didn’t want her dire cash situation to overshadow her strong win in Kentucky. But it turns out she may be in up to $31 million worth of debt.* From the LAT Website:
According to a campaign release put out Tuesday evening as election returns revealed her big win in Kentucky and loss in Oregon, Clinton raised “approximately $22 million” from other people in April. The release also touted that $10 million had poured in within 48 hours of another lopsided Clinton victory over Obama, that one in Pennsylvania, and said it was the second best fundraising month of her entire campaign. But the number collected is actually closer to $21 million and the release also neglected to mention that she spent $28.9 million, nearly $8 million more than she took in. She used personal loans to make up part of the difference. She also delayed payments to consultants. Including the $9.5 million in unpaid bills from April, she owes consultants and other vendors $19.5 million.
That doesn’t even mention the $11.4 million she has loaned the campaign herself. And the lady plans to stay in the race until mid-June? Who knew saving face was so expensive? Some people have argued that Clinton hopes for Obama to help pay her campaign debts when she drops out, but with huge numbers like this, that could really put a dent in his ability to financially compete with McCain in the short term, who has access to the Republican National Committee’s loaded coffers. Suddenly the Democrats’ financial position doesn’t seem so bullish.
*Right, so journalists can’t do math, and the LAT is now saying that she’s only $20 million in debt after all. Whoops.