Barack Obama has $51M in the bank, John McCain $11M. Hillary Clinton?
by ragekage, Mon Apr 21, 2008 at 07:11:56 AM EDT
... Let's just say she's gonna have to send the kids to live with her sister up in Buffalo for awhile.
On the eve of the Pennsylvania Presidential Primary, we found out that it has become even more important for Senator Clinton to perform over Senator Obama, if she wants to stay in the race for the nomination through June 3rd.
Barack Obama began the month of April with a 5-1 cash advantage over Senator Clinton. Financial reports filed Sunday by the Democratic presidential candidates with the Federal Election Commission show Clinton had $10.3 million in debts at the start of the month and only about $9 million cash on hand for the primaries. Obama reported having $42 million for the primary.
Earlier in the month, Clinton's campaign had stated they'd raised approximately $20 million dollars to Obama's $40 million. Obama's numbers ended up being somewhat greater; $51 million, still short of his $55 million in February.
Nearly half of Clinton's debt is money owed to, you guessed it- Mark Penn. The report shows that the campaign owes $4.6 million to Penn, Schoen & Berland Associates. The campaign has already paid the firm $14 million, including $3 million in March for polling and direct mail.
In some much-needed good news, Clinton spokesman Jay Carson said Clinton's online fundraising is on the rise and noted that the March figures do not include the $2.5 million she raised last week at an Elton John concert in New York. Carson said the event's total sum included money from 6,000 new donors.
The question is, will Clinton be able to continue to run her campaign in the face of this news? Obviously, Pennsylvania is a moot point- we're here, now, it's not like she's going to give up her guns and go home because her campaign's running in the red. But will she be able to competitively compete in Indiana and North Carolina? If Obama soundly wins those two states, will she be able to stay in the race?
We see more math is against Senator Clinton than just the delegate math. She has to overcome this debt before she can ever move forward into a general election; and if she loses or concedes the nomination, she has to overcome this debt before she could start raising money again for a possible run in 2012, or even to retain her Senatorial seat in New York.
However, if there was ever a candidate to overcome this, it's Senator Clinton. Her unique advantage in name recognition, and ability to play the press to her own advantage, means she's down, but not out.