For the second straight month, Hillary Clinton's presidential campaign has found itself in the red. Here's The New York Times' Caucus blog (via Greg Sargent):
Despite a strong month of fund-raising in February in which she brought in $35 million, Senator Hillary Rodham Clinton finished the month essentially in the red, once her campaign's outstanding debts are factored in, as well as her personal loan, according to filings submitted late last night to the Federal Election Commission.After spending about $31 million in her efforts to keep up with Senator Barack Obama, Mrs. Clinton finished February with more than $33 million in cash on hand, but $21.5 million of that is earmarked exclusively for the general election, leaving her with $11.7 million for the primary.
Mrs. Clinton, however, loaned her campaign $5 million earlier this year and she listed $8.7 million in debts to various vendors, making clear why she has not yet paid herself back from her loan.
Doing the math, when you count the debts and obligations owed by Clinton (including to herself), her campaign is about $2 million in the red. Even when Clinton's peronal loan to her campaign is taken out of the mix, the campaign had just a net $3 million in the bank entering the month of March. While these numbers represent an improvement from the previous month, when the Clinton campaign was a net $3.6 million in debt, they still raise questions about the continued viability of the campaign at a time when the delegate math for Clinton is going from bad to worse.
Money isn't everything. Clearly Clinton has been able to have a decent March without replenishing her resources for the fight ahead, stopping Barack Obama from extending his overall pledged delegate lead. But just maintaining the status quo in the delegate race won't likely win the nomination for Clinton. So something is going to have to happen in the Clinton campaign if they're hoping for a different set of results going forward.
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