Wednesday, June 04, 2008

Lotta Cash

I'd forgotten about this. Clinton is in debt, and she has a lot of cash. She just can't use the cash to pay the debt because it's general election money.

Clinton's latest report to the Federal Election Commission showed an April 30 cash balance of nearly $29.7 million, but that was deceiving. FEC spokesman George Smaragdis said the figure included $6 million in primary-season cash and $23.7 million in donations designated for the fall general election campaign. None of the general election donations can be used to retire debts accrued during the primary season.

Clinton's biggest problem, of course, is the $21 million in IOUs, which include $11,425,000 she is known to have lent her campaign through the first week of May and possibly millions of dollars more in yet-to-be-disclosed loans during her last-ditch primary campaign efforts.


As for Clinton's $23.7 million general election treasure chest, that money amounts to a political opportunity fund.

If Obama helps her, she could reciprocate by asking those donors to re-designate their checks to his campaign.

She also could ask the donors to authorize her to put their money into a new committee — perhaps one that would finance a 2012 presidential run or another bid for Senate.

She can't, as was possible for political candidates through the mid-1990s, just keep the cash.

Ah, the good old days. There's also been a lot of talk about Obama giving her campaign money, but he can't give more than $2000. He can do fundraisers for her and encourage donors to give and whatnot, but he can't just siphon his campaign cash into her account.