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Title: Clinton Loaned Her Campaign $6.4 Million, Aide Says
Source:
Bloomberg
URL Source: http://www.bloomberg.com/apps/news? ... 87&sid=aWoC.5g2Dvz8&refer=home
Published: May 7, 2008
Author: Jeff Bliss and Jonathan D. Salant
Post Date: 2008-05-07 14:05:47 by Arete
Keywords: None
Views: 96
Comments: 2
May 7 (Bloomberg) -- Hillary Clinton has loaned her Democratic presidential bid $6.4 million since April 11, bringing her personal investment in her campaign this year to $11.4 million. Clinton gave her campaign $5 million on April 11, $1 million on May 1 and $425,000 on May 5, spokesman Howard Wolfson said today. She loaned $5 million in January, and had $10.3 million in unpaid bills as of March 31. Clinton is struggling to keep up with Barack Obama's campaign spending and may face more difficulty after splitting two primary races last night. She lost the North Carolina primary by 15 percentage points and won by 2 points in Indiana. ``The race is getting to the wire and it's becoming obvious that she's not going to overtake Obama before the convention,'' said Democratic consultant Glenn Totten, who isn't aligned with a campaign. ``I don't know who continues to give her money for a cause that already seems lost.'' Most of the major donors to the campaign have given the maximum and the fundraisers have exhausted their lists of potential contributors, said former Democratic National Committee Chairman Steve Grossman, a top Clinton fundraiser. The campaign is now planning to ask small donors who stepped up their contributions after Clinton's initial loan to do so again, Grossman said. `Significant Response' ``My guess is there will be a significant response from her supporters,'' Grossman said. ``You're always concerned about having enough money to compete, but the reality is the campaign fundraising base has shifted dramatically and is much more based on Internet and small-donor fundraising.'' Clinton made a new online pitch last night for donations, telling supporters ``we can only keep winning if we're able to keep competing against an opponent who does outspend us massively.'' Visitors to her campaign Web site this morning were met with a request to donate as little as $5. Wolfson told reporters on a conference call this morning that Clinton loaned her campaign the additional funds to buy enough TV ads to compete with Obama. ``The loans are a sign of Senator Clinton's commitment to the race,'' he said. Clinton is willing to loan more money ``going forward in order to ensure that our message gets out and that voters are not making decisions based on who has more advertising.'' Continuing the Fight Clinton, vowing to continue the fight for the nomination, isn't likely to make a dent in Obama's delegate lead in the five remaining states, plus Puerto Rico, that hold contests in the next month. He has 1,815 delegates to the nominating convention and Clinton has 1,672, according to the Associated Press. A candidate needs 2,025 to win. The focus is now on the 795 superdelegates, party officials and lawmakers not bound by the results of the primaries and caucuses, who will help decide the nomination. Fewer than 300 remain uncommitted. Wolfson said Clinton plans to meet with uncommitted superdelegates in Washington this afternoon. Obama supporters, speaking on their own conference call with reporters, declined to urge Clinton to withdraw. ``It would be inappropriate and awkward and wrong for any of us to tell Senator Clinton when it is time for the race to be over,'' said Senator Claire McCaskill of Missouri. ``This is her decision and it is only her decision, and we are confident she is going to do the right thing for the Democratic nominee.'' In West Virginia Clinton is campaigning today in West Virginia, which holds its primary next week, and has a fundraising event scheduled for tonight in Washington. Tomorrow, she will return to West Virginia and hold rallies in South Dakota and Oregon, two states that also have primaries in coming weeks. The New York senator has struggled to compete financially with Illinois Senator Obama, who raised $234.8 million through March 31 and had $42.5 million to spend on the primaries. Clinton raised $175.7 million for her campaign through March, and transferred $10 million from her Senate account. She had about $8 million to spend at the beginning of April. Clinton and her husband, former President Bill Clinton, amassed a fortune of $109 million from 2000 through 2007, according to her campaign. To contact the reporters on this story: Jeff Bliss in Washington at jbliss@bloomberg.net; Jonathan D. Salant in Washington at jsalant@bloomberg.net.
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#1. To: Arete (#0)
This is a good stimulus to the economy.
Antiparty - find out why, think about 'how'
George's Bottom Line on Clinton for Veep Clinton vowed to fight on today, despite a growing chorus that says Sen. Barack Obama, D-Ill., has just about wrapped up the Democratic presidential nominaton. ABC's chief Washington correspondent George Stephanopoulos told Charles Gibson on "World News" that Clinton is staying in the race to negotiate a spot on the Democratic ticket in November.
#2. To: Arete (#0)
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