Clinton Nearly $20 Million in Debt in April
May 22, 2008 by TMO
WASHINGTON (Reuters) – Hillary Clinton’s presidential bid fell deeper in debt in April despite a strong fundraising effort in her increasingly unlikely effort to defeat rival Barack Obama for the Democratic nomination, campaign finance records show.
Clinton raised $21 million from supporters but spent $28.6 million as she defeated Obama in the Pennsylvania primary, according to figures filed with the U.S. Federal Election Commission filed late on Tuesday night.
Her campaign reported debts of $19.5 million. Outside vendors, including firms associated with her top officials, were owed $9.5 million, and $10 million was owed to Clinton herself.
Clinton has since loaned the campaign an additional $1.4 million, meaning the campaign now likely owes $11 million. It had $29.7 million in the bank at the end of the month.
Obama raised $30.7 million in April, FEC filings show. He had $46.6 million in the bank at the end of the month, with debts of $2 million.
John McCain, the expected Republican nominee for the November election, raised $18.5 million and had $21.8 million in the bank at the end of the month.
McCain has consistently trailed the top Democrats in the money race, but he spent much of April raising money for the Republican National Committee, which is expected to help him substantially in the fall election.
The RNC raised $29.9 million in April and reported $40.6 million cash on hand.
By contrast, the Democratic National Committee raised only $4.6 million in April, and had $4.4 million in the bank at the end of the month.
(Reporting by Andy Sullivan)
(To read more about the U.S. political campaign, visit Reuters “Tales from the Trail: 2008″ online at http://blogs.reuters.com/trail08/)