Hillary’s Campaign in Trouble — Accumulated $20 Million in Debt

May 12, 2008

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Well just when you thought it couldn’t get any worse — it did. Well for Hillary Clinton and her campaign staff at least, who received the discouraging news that they are currently sitting $20 million dollars in the hole, and the bad part of this all is that Clinton is bringing in the dollars via contributions any more, or at least not close to enough to allow her to run both a competent national campaign while at the same time aleviating at least a portion of her accumulated debt.

This morning the Washington Post ran a featured article on Clinton’s financial woes, chonicling how it got this bad, and why it doesn’t look like it’s going to get better at least before it gets worse:

With her campaign falling ever deeper into debt, Sen. Hillary Rodham Clinton spent a rainy Mother’s Day seeking votes ahead of Tuesday’s primary here, turning a deaf ear to calls for her to leave a Democratic presidential contest she has little hope of winning.

Clinton aides continued to insist that she will remain in the race even while confirming that she is $20 million in debt. “The voters are going to decide this,” senior adviser Howard Wolfson said on “Fox News Sunday,” acknowledging the $20 million figure. “There is no reason for her not to continue this process.” Wolfson said he has seen “no evidence of her interest” in pursuing the second-place spot on the Democratic ticket, contrary to rumors that she is staying in the race to leverage a bid for the vice presidential nomination.

The Post continues to highlight the notion that Clinton campaign chair Terry McAuliffe, former head of the DNC, has already hinted at the idea that he will lend some of his money to keep this dieing dog of a campaign rolling:

Terry McAuliffe, the Clinton campaign chairman, told Tim Russert on “Meet the Press” that he spoke to Clinton about the possibility of contributing more money and “she said that she would be willing to do it.” However, McAuliffe insists, “We haven’t needed it.”

A McAullife loan would just add to the list of Clinton campaign officials (and ex-officials if you count Mark Penn) who have dipped into their deep pockets to fund this fledgling bid at the nomination. All this on top of Hillary’s multiple “self loans” to her campaign in chunks of $6-$7 million dollars a time. This is quite ironic when you look back and watch Hillary call Barack Obama an “elitist” doesn’t it? I mean f it weren’t for deep pockets and rich friends Clinton would of been forced out of this race months ago.