Wednesday, February 6, 2008

Clinton is self-financing

News broke this afternoon that Hillary Clinton has loaned her campaign $5 million. In light of Barack Obama's huge January fundraising advantage ($32 million compared to about $12 million), this measure doesn't come as a shock, but still represents a serious personal investment for the Clintons. Howard Wolfson, the Clinton campaign communications director, offered this rational about the move:

Late last month Senator Clinton loaned her campaign $5 million.The loan illustrates Sen. Clinton’s commitment to this effort and to ensuring that our campaign has the resources it needs to compete and win across this nation. We have had one of our best fundraising efforts ever on the web stoday and our Super Tuesday victories will only help in bringing more support for her candidacy.

The Clintons are not like Mitt Romney -they can't afford to fund their campaign for long, and this must come as a disappointment to Sen. Clinton and her supporters as they press on through what appears to be an increasingly close contest. This all is very interesting.

2 comments:

taylor said...

In addition to her 5 million, some of her senior campaign managers have agreed to work for free in the upcoming month(s). She also gave more money bringing her total to 6.7 million, I believe was the number. This could mean trouble in her future no matter how invested in the race for president she is. It also seems that Obama now has a push from polls which found him to be more competitive against McCain. More than money, that will likely hurt her campaign.

Anastasia said...

By lending her campaign 5 million, Clinton motivated many of her supporters, which helped her to raise $7.5 million in less than a week. However, I also agree with taylor that money is not the main issue that hurts Clinton and the Democratic party. It is rather a brokered convention (a very likely possibility after the Super Tuesday). As history shows, if the nominee is going to be decided by Superdelegates, the party will be weak and not united, which is highly undesirable before the elections.