"One way or the other we are determined to deny Iraq the capacity to develop weapons of mass destruction and the missiles to deliver them. That is our bottom line." --President Bill Clinton, Feb. 4, 1998
Posted: Fri Jun 06, 2008 3:00 am Post subject: Hill's bills coming due
Hill's bills coming due
By: Geoff EarleNY Post - Hillary Rodham Clinton has less than three months to organize a furious fund-raising drive to retire a personal campaign loan that has swelled to more than $11 million - and a total campaign debt that could be three times that amount. Clinton's mountain of debt has emerged as a major consideration now that Barack Obama has locked up the nomination.
Category: Spotlight
By: Geoff EarleNY Post - Hillary Rodham Clinton has less than three months to organize a furious fund-raising drive to retire a personal campaign loan that has swelled to more than $11 million - and a total campaign debt that could be three times that amount. Clinton's mountain of debt has emerged as a major consideration now that Barack Obama has locked up the nomination. Even while she angles for a spot on the ticket and pet policy proposals, Clinton's own bank account is on the line. The clock is ticking fast on her personal loan, made to her campaign after Super Tuesday, due to federal laws meant to keep politicians from lining their own pockets with contributions from contributors. The last day Clinton can solicit contributions to repay the personal debt is Aug. 28 - the day Obama is set to be nominated at the Democratic convention. After that, Clinton can't be reimbursed by more than $250,000 - a tiny fraction of her outstanding loan. Some reports have speculated that the personal loan may be much higher than the $11 million reported. The other issue is Clinton's overall campaign debt, which has swelled to as high as $30 million, according to some reports. "Debt retirement is one of the hardest tasks in American politics," said former Federal Election Commission Chairman Michael Toner. Federal laws don't let Obama simply pay off Clinton's debt.
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