Finance Reports Show Clinton's $20M Debt

Obama, McCain Have Millions In Hand Following Strong Fundraising Month While Clinton Finds Herself In The Red

(CBS/AP)  The money tells the tale. Democrat Barack Obama entered May sitting comfortably atop more than $37 million in the bank. Republican John McCain had nearly $22 million in hand. Hillary Rodham Clinton, once the Democrats' presidential front-runner, was in the red.

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The Money Race
Check out April tallies for Obama, McCain and Clinton - including how much they've raised and spent since the campaign began.

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“With just two weeks and three contests remaining in the Democratic race, money concerns alone aren’t likely to drive Clinton out of the race,” said CBSNews.com senior political editor Vaughn Ververs. “But it’s one more reminder - along with the delegate count - of Clinton’s near-extinct hopes of winning the nomination.”

Obama, moving closer to his party's nomination, let his fundraising slow only slightly last month and collected $31 million. Clinton raised more than $21 million, but was saddled with debts. And McCain, in his best monthly performance yet, hauled in $18 million.

Financially, the month tracked the three candidates' political fortunes. Clinton beat Obama in Pennsylvania on April 22 and saw a $10 million surge in donations in a 24-hour period. But money and the delegates needed for the nomination still flowed primarily to Obama.

McCain, lacking rivals and assured the GOP nomination, spent little and worked on consolidating his fundraising base.

The three candidates filed their financial reports Tuesday with the Federal Election Commission.

Together, the reports reinforce what is increasingly evident in the campaign: Obama and McCain are equipping themselves to confront each other, while Clinton, risking a personal financial hit, is quixotically hanging on to the end.

In a continued expansion of Obama's fundraising network, his campaign reported nearly 1.5 million donors since he started raising money for his presidential race. With such extraordinary numbers behind him, Obama appears to have access to a continuing flow of money, though his April total was his smallest haul this year. Overall, he has raised close to $265 million in his White House bid.

Obama spent $36 million in April, half of it on advertising. For the first time, his spending exceeded his monthly fundraising. Clinton, too, spent more than she raised. Both vigorously competed in Pennsylvania and he also spent heavily during April in Indiana and North Carolina, which held their primaries on May 6. Obama lost Indiana narrowly and won in North Carolina.

But Clinton reported only about $8 million cash on hand for the primary. (She has $22 million set aside for the general election that she can't use.) She also reported $19.5 million in debts, including $10 million she has lent her campaign. Even without the loan, Clinton was in negative cash position. The loan amount also did not include an extra $1.4 million she put into her campaign in May.

Clinton did not add to her debt to vendors, who include such campaign consultants as Mark Penn and Mandy Grunwald. But she had to ramp up her spending, with a majority of it devoted to traveling and getting her message to voters. She spent more than $9 million on ads alone.

Still that paled in comparison to Obama. He spent more than $20 million on ads, including nearly $2 million on advertising on the Internet.

Clinton campaign chairman Terry McCauliffe said donors continued to contribute though the Internet and that she had fundraisers planned this week.

"We have the money to play in all the remaining states," he said. He said Clinton offered to put in more of her own money but "we have not had to use it."

McCain's finances are an important marker as he moves into direct competition with Obama, who has shown himself to be a fundraiser without equal. McCain has been taking advantage of his status as the all-but-nominated Republican candidate, embracing the big donors from his former GOP rivals and putting allies in charge of raising money at the Republican National Committee.

The RNC, which is the party's main political arm, had nearly 10 times more cash on hand than its Democratic counterpart at the end of April, a notable GOP advantage in what has otherwise been Democratic fundraising dominance this election.

The committee on Tuesday reported having $40.1 million in the bank. The Democratic National Committee had $4.4 million.

The RNC raised $15.7 million in April compared to $4.7 million by the DNC.

Significantly, the financial disparity comes in a presidential election year when the candidates rely on the parties to mobilize voters and promote their message. Overall this year, the RNC has raised more than $52 million, the DNC has raised more than $22 million.

McCain has put his own team at the RNC to operate a Victory Fund Committee that is corralling top Republican donors. Earlier this month, McCain and the party raised $7 million at a fundraiser hosted by New York Jets owner Woody Johnson. The proceeds of that event were not included in the RNC's latest report.

Obama has taken his own quiet steps to take over the DNC and assemble a multistate team for the general election, several Democratic officials said Tuesday. With such a team in place, the DNC would be able to tap into Obama's prodigious fundraising.

The DNC has lagged in fundraising for some time, a condition made all the more difficult by the Democrats' protracted presidential primary. Last week, the DNC announced agreements with Obama and Clinton to begin raising money together.

In their Senate and congressional accounts, Democrats were faring much better. The Democratic Senatorial Campaign committee reported $37.6 million in the bank to the National Republican Senatorial Committee's $19.4 million. The GOP's Senate campaign arm, however, slightly edged the Democrats in fundraising for the first time this election cycle.

Similarly, the National Republican Congressional Committee outraised the Democrats' House campaign committee. But the Democratic Congressional Campaign Committee reported more than $45 million in the bank to the GOP committee's nearly $7 million.

[dchu76]

The more she uses the debt to attack Obama, i hope Obama doesnt pay off her loan. A campgain should not be allowed to go into debt. Spend what you have raised.

[gopsoccermom]

Typical liberal woman. Gets so wrapped up in being vindictive that even in the face of defeat she will spend every cent she can lay her hands on to attack her enemy instead of being mature and accepting the loss and being a good sport about it. She is exhibiting all the bad stereotypical traits of the modern liberal woman.

[allamr18]

31 million dollars? geez. so basically shes paying for things on credit now. i hope she gets this in control because its only 3 more states left and if she doesnt get it paid of she loses the money she loaned herself

[zorar-2009]

a vote for Obama is a vote for McCain

[primilioneah]

She is not as stupid as you might think she is, the money she is spending is not hers. Even the loan she took is going to be paid off by YOU believe one way or another believe it or not so she is having the best of everything.

Alternatively she could be thinking about running as an Independent, just a thought.

[jack3213]

Clinton see''s no reason to step down, why is that? Of course she ignores the math, and yet, she is in debt, syas she uses her own money and still plugs away. What kind of person will continue to support her with no chance at all? One only see''s ''woman'' has her main support. These same woman will vote for McCain if she loses. Wow, what loyalty! Clinton either has something up her sleeve or will lie further to engage more superdelegates. This is not any differant than Bush''s tactics. Obama still remains unqualified and that won''t change. McCain 2008.

[lochlan-2009]

The presidential race is now a billion $$$ industry. With the trillions of dollars Bush cost this country for war profiteers, bankers and big oil, it''s clear to see why. Pennies for tax dollars.

[sjc_1]

She has that much on hand for the general election. If she gets the nomination, money will pour in and if not she uses that to pay the debt. Businesses routinely go 30,60,90 days on their invoices. The fact that Obama has raised so much ought to make you wonder. He raised $160,000 from a nuclear industry group. If you are not for more nuclear plants, you should take a look at that.

[dchu76]

LATimes is reporting 31 million debt.

If a fading male candiate were $20 million in debt, you''d be saying that he was being irresponsible and delusional and self-serving and... wait, that argument won''t work.

It''s sexist because...well, because Hillary''s a woman and you can''t make critical observations of a woman without being sexist.

[jack3213]

WHY IN THE WORLD WOULD YOU CONTRIBUTE TO A LOST CAUSE UNLESS YOU WERE BEING SCAMMED?

[sistatee-2009]

Can''t she loan herself another 20 million? She''s good for it, right?

[billster68]

Hillary''s finances are reprehensible. $20 million in debt!! So just who does she owe all that money to? Hundreds of small businesses owned by the "little people" - - good Americans scrambling to stay afloat in these uncertain times. All of them unwittingly provided goods and services for her campaign to function - - and all of them expected prompt payment. Now these creditors are just little squeeky wheels - -too small to cause any real problems - - too small for the media to pay any heed - - and yet this deadbeat campaign rolls on. I''m sorry Hillary - - but if your people order more late night Pizza - - or need your offices cleaned - - or want some printing done - - it''s cash - - up front.

[vet_sk]

And Hillary is asking people to continue to donate to her - the people who can least afford it. This is very, very sad.
She talks about the gas tax holiday which would save people a total of $18 dollars and then asks them to donate$20, $50, or $100 dollars a month. How can she sleep at night.

[vet_sk]

Debt is not all debt to her. As it has been pointed out, there are all sorts of small businesses that are not being paid. There was even a report she was not paying her health insureance premiums to her staff.

[credibility2]

So what if she''s in "debt". Let''s post the numbers of other candidates who had "debt". Why isn''t the story on Obama spending egregious amounts to go after his girl opponent? What''s he afraid of anyway? If he''s that self-assured on his position, then he wouldn''t be out-spending Clinton. Sounds to me like Obama is wasting and throwing away all of the money his myopic supporters continue sending him. And just because she''s in "debt" is no reason why she should acquiesce and place herself in a subservient role to her opponent and leave the race. Of course, many prefer that she do this to live up to the stereotypical profile of a girl: loser, second best, not as good or as worthy as a "man", etc.

[dchu76]

So what if she''''s in "debt". Let''''s post the numbers of other candidates who had "debt". Why isn''''t the story on Obama spending egregious amounts to go after his girl opponent? What''''s he afraid of anyway? If he''''s that self-assured on his position, then he wouldn''''t be out-spending Clinton. Sounds to me like Obama is wasting and throwing away all of the money his myopic supporters continue sending him. And just because she''''s in "debt" is no reason why she should acquiesce and place herself in a subservient role to her opponent and leave the race. Of course, many prefer that she do this to live up to the stereotypical profile of a girl: loser, second best, not as good or as worthy as a "man", etc.
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Posted by Credibility2 at 11:13 AM : May 21, 2008


But the way her campaign has been run, is a precursor of her management style. That is a issue that should be discussed.

[hungry1968]

I like how they say "Hillary Rodham Clinton, once the Democrats'' presidential front-runner, was in the red."


She was the democrats front runner - until they held the caucuses and primaries!!

[shawnp1968]

Hillary is like that annoying gnat at a picnic. You know... the one that keeps buzzing around your eyes and ears, but you just can''t kill it!!

Hillary........... You are done!!! The fork is in. the lights are out. The fat lady sang last month. You are broke... and you''ve tried to change the rules so many times to benefit your bid, and you are still getting your pant suit knocked off!!!

GO AWAY!!!

[dchu76]

keep in mind, just because Hillary can''''t manage money doesn''''t make Obama the right choice.
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Posted by jamesm12341 at 11:20 AM : May 21, 2008

But its another big negative for Clinton. She put people she knew in positions instead of most qualified. Isnt that what bush has been doing for the last 7 years? Running a debt campaign, have you looked at the deficit lately?

[obamaslady]

Seems to me McSameBush has to rely on his LOBBYISTS to bank-roll his campaign by doing fundraisers with Bush! I love seeing them constantly "together like 2 peas in a pod" and love knowing they KNOW their chances are NIL going into the GE! Since McBushSame''s base is not really crazy about him, that makes finding financing that much more difficult!

At least Obama has what''s known as TRUE PUBLIC FUNDS available to him since ''his supporters'' are financing his campaign - individuals from the public spector giving to him. And because we give in small increments, we can keep giving for a long, long time!

So what has happened to the clintons? Where are their supporters and why aren''t they contributing more? The clintons have already used up all the BIG DONERS - they are tapped out from further donations - so where are their "supporters'' money"? The clintons are going to need as much money as they can wrangle from their supporters to hopefully pay off that $25M debt. The businesses [who did not ask for upfront payment] dealing with the clintons campaign would definitely like to be PAID (and I''m not just talking about DOUGH BOY PENN)!

[shawnp1968]

Barack needs to put his foot down right now and make it very clear that he is not going to help to bail her out of her financial crisis if she is going to continue to rack up the bill!!!

Geeeeez....... now I understand the whole Bill and Monica thing!!! Anything to get away from that woman!!!

[perceptions5]

Obama is trying to buy the election.

He outspent Hillary 5 to 1 in Kentucky and lost by 35%.

NO TO A JIMMY CARTER SECOND TERM

[shawnp1968]

Obama is trying to buy the election.

He outspent Hillary 5 to 1 in Kentucky and lost by 35%.

NO TO A JIMMY CARTER SECOND TERM



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Posted by perceptions5

The difference is........ he''s got the money to spend!!! He is in the black!!! He has money because his supporters support him completely!! (including financially) Unlike Hillary supporters who only support her in online chat rooms and trailer parks in Kentucky and West Virginia.

[hawksprings]

I wonder how many "little people" Hillary still owes money to? How many small vendors and small business people can''t feed their children because Hillary won''t dip into her millions and pay them?

[arlt1627]

These same woman will vote for McCain if she loses. Wow, what loyalty! Clinton either has something up her sleeve or will lie further to engage more superdelegates. This is not any differant than Bush''''s tactics. Obama still remains unqualified and that won''''t change. McCain 2008.

Posted by jack3213 at 09:54 AM : May 21, 2008

This just begs me to ask.....if Obama is "unqualified" what were George Bush''s qualifications??? Especially those in FOREIGN POLICY!!! Ouch.

[shawnp1968]

I wonder how many "little people" Hillary still owes money to? How many small vendors and small business people can''''t feed their children because Hillary won''''t dip into her millions and pay them?




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Posted by HawkSprings


The "little people" only matter to her when the cameras are rolling!!!
I wish I could be the collections agent to make THAT phone call!!! LOL

[vet_sk]

Obama unqualified? Was Lincoln also unqualified. You have to remember Lincoln followed the worst president in US history who had almost 20 years in the House, 20 years in the Senate and had been an ambassador to both Russia and France and here comes Lincoln with one term (2-year) stint in the House and he ended up being the most effective president in history.

[dchu76]

Obama has the qualifications and judgement to be Commander in Chief. If experience is the only qualification why dont we just have the oldest senator be the President.

[hawksprings]

You all realize and understand that with the 3 presidential choices this year, it''s really 3 of the same.

McCain
McObama
McHillary

We''re going to get a liberal for President and we''re going back to the days of Jimmy Carter Malaise.
Those of you who weren''t sentient during the ''70''s: Prepared to be depressed the next 4+ years.

[vet_sk]

Hillary is really stealing from the people who can least afford to feed he crews pay the crew that take the stands up and down...and then the 10,000''s of those who can least afford to pay into her campaign. What is she thinking? Does she care?
Her''s a woman that talks about health care but waited to try to start working on it (even since 1992 that is) until her run for President - thinking this would be her thing. Then here comes Obama knowing that you have to make some concessions on domentic policy initiatives this big to get them through.

[vmcneal2]

Obama is trying to buy the election.

He outspent Hillary 5 to 1 in Kentucky and lost by 35%.

NO TO A JIMMY CARTER SECOND TERM



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Posted by perceptions

Obama raised more money than Hillary and managed his money better than Hillary. I gave $100.00 to the Obama campaign. How much did you give Hillary?

[dchu76]

We''''re going to get a liberal for President and we''''re going back to the days of Jimmy Carter Malaise.
Those of you who weren''''t sentient during the ''''70''''s: Prepared to be depressed the next 4+ years.
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Posted by HawkSprings at 11:45 AM : May 21, 2008

Are you talking about the oil crisis? In hindsight if Carters energy policies were instated back them, america would have been oil import free in the mid 90''s. Also the issues during the carter admin (inflation/oil/economy) are already being felt under Bush.

[gopsoccermom]

Gee when are those liberal women going to donate some money to Hillary? I think they are looking for some sugardaddy to cough up the cash.

[edward1975-2009]

None of these candidates invoke a sense of leadership.It is sad to see how bad American politics have become. We scrape the bottom of the barrel every 4/8 years for our leader. Our two party system is failing us. We should strive to revert to the system that we were intended to be governed under a Republic. We need as a nation to turn this spiral downward around.

[jack3213]

Posted by dchu76 at 11:44 AM -"Obama has the qualifications and judgement to be Commander in Chief. If experience is the only qualification why dont we just have the oldest senator be the President."

YOU ARE SO DELUSIONAL IT IS JUST SO FUNNY. EXPERINACE AND QUALITY GO HAND IN HAND-MCCAIN HAS IT IN THE BAG

[incog-nito]

Statement from Senator Clinton: "I will keep on fighting for the American people, or until my campaign debt is paid off. After all that''s MY money I want back. Please donate generously. God bless."

[taddles-2009]

"Those of you who weren''''t sentient during the ''''70''''s: Prepared to be depressed the next 4+ years.

Posted by HawkSprings at 11:45 AM : May 21, 2008"


I was there then and I''m looking forward to the next 4 years without the rampant corruption of the Bush administration. I''m looking forward to traveling abroad and not having to tell foreigners I''m Canadian so they don''t spit on me. I''m looking forward to a Government that spends more time trying to tell me why we have to do the necessary things we have to then it does trying to cover up the illegal things it has done behind my back. I''m looking forward to a President and cabinet that I believe what they say, not expect them to lie about everything all the time like it was some kind of twisted mantra. I''m looking forward to a President with integrity and intelligence and compassion and honesty, all qualities that have been demonstrably absent for 8 years.

[starleo146]

W
e''''re going to get a liberal for President and we''''re going back to the days of Jimmy Carter Malaise.
Those of you who weren''''t sentient during the ''''70''''s: Prepared to be depressed the next 4+ years.

Posted by HawkSprings at 11:45 AM : May 21, 2008

What kind of state do you think we are in now after 71/2 yrs of total abuse, and indiscretions, bad decisions, golly I will take depression. I can handle it this administration taught me how

[taddles-2009]

"EXPERINACE AND QUALITY GO HAND IN HAND-MCCAIN HAS IT IN THE BAG

Posted by JACK3213 at 11:56 AM : May 21, 2008"


LOL, yes quality goes with experience, like the experience of Cheney, Rumsfeld and Wolfowitz...couldn''t ask for more experience there, most experienced cabinet of any President ever...also the most corrupt pack of thieves in US history.

[lfitts1]

YOU ARE SO DELUSIONAL IT IS JUST SO FUNNY. EXPERINACE AND QUALITY GO HAND IN HAND-MCCAIN HAS IT IN THE BAG

Posted by JACK3213

Interestingly, it has been shown that it is character, not experience--please see the term of Harry Truman and Abraham Lincoln--both with little experience, but endowed with common sense. Therefore out with McSame and in with some one other than the prepublicans who have subverted the constitution and destroyed the economy and everything else they have touched !!!

[starleo146]

Tell me if you agree or not, when a president becomes just that they have a cabinet to nominate and this cabinet will advise him or her. Advice and consent it seems to me his or her cabinet will be the most important to a president as to how he or she makes decisions so there judgment to that advice is what is important to me so everyone please look at this and tell me if I am wrong. Who will they pick to advise this next president

[shawnp1968]

We''''''''re going to get a liberal for President and we''''''''re going back to the days of Jimmy Carter Malaise.
Those of you who weren''''''''t sentient during the ''''''''70''''''''s: Prepared to be depressed the next 4+ years.
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Posted by HawkSprings at 11:45 AM : May 21, 2008

What do you call the last 8 years??? Bush has crippled this country for the last 8 years... and you are obvioulsy so brainwashed that you still think that he is the next coming of Christ. Just remember... 5 years ago... Mission Accomplished!!! LOL Hell... that was just the beginning of his desire to show the world how incompetent he truly is!!!

[incog-nito]

starleo1467: You are partly right. The president''s picks for cabinet is important as he receives advice from them. But it''s also the president''s judgment that is important in picking the right people for his cabinet.

[starleo146]

Look how we got in this mess Rumsfeld, Chertoff, Darth Vader Cheney all these advised the president lest we not forget Condi good God no wonder we are in a mess I hope the next president picks a cabinet worth listening to and FBI and CIA director that knows what the heck they are doing and maybe we can get back to normal Mc Bush will be just more tap dancers and goodness know what I hope to goodness they go to the pentagon and clean it out fire the atty general and just clean house

[shawnp1968]

Bush will easily go down n history as the worst President we have EVER had. He has done absolutely NOTHING positive in the 8 years that he has been in office, and he has no legacy to leave behind. Every decision that he has made has been the wrong decision!!! He is a bumbling idiot who deserves to live in a FEMA trailer for the next 4 years... just to get a feel for it!!!

[starleo146]

Advice and consent it seems to me his or her cabinet will be the most important to a president as to how he or she makes decisions so there judgment to that advice is what is important to me so everyone please look at this and tell me if I am wrong. Who will they pick to advise this next president

Posted by starleo14672 at 12:06 PM : May 21, 2008

starleo1467: You are partly right. The president''''s picks for cabinet is important as he receives advice from them. But it''''s also the president''''s judgment that is important in picking the right people for his cabinet.

Posted by incog-nito at 12:11 PM : May 21, 2

I put a sentence in my post that stipulated judgment and you are absolutely correct he or her have to make the judgement, but the people you pick have to be smart enough to advise him to so the judgment can be made do you agree

[jack3213]

For a bunch of liberal minded phoneys it is ironic that you all think about change but have no clue what that means. Comparing Presidents from decades ago to now is like saying every war is exactly the same. You are hypocritical and steriotypical and more narrow minded than ever imagined! Green you say? Do you drive an SUV?? Probably.

[blondchic]

Hey CBS, Hillary WON too! This is such BU LL SH IT!!! CBS refuses to give any positive coverage to Hillary. The media is picking our next President. It''s a ******* n Obamanation!!

[dchu76]

Tell me if you agree or not, when a president becomes just that they have a cabinet to nominate and this cabinet will advise him or her. Advice and consent it seems to me his or her cabinet will be the most important to a president as to how he or she makes decisions so there judgment to that advice is what is important to me so everyone please look at this and tell me if I am wrong. Who will they pick to advise this next president
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Posted by starleo14672 at 12:06 PM : May 21, 2008

Bush, put his friends in positions of power.
McCain, likely will put friends and lobbyist will have a say.
Clinton, will put friends in positions of power, doesnt matter if they qualify, look at her campaign staff.
Obama, seems to like qualified people, doesnt necessarly matter that he agrees with them. (a pro obama bias), but his campaign staff shows that.

[jsmithcsa]

Shocking how the democrats are always on about women''s rights, but now that they have an opportunity they aren''t supporting one for President. HILLARY IN 08!