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MoneyTrail
McCain Raises $27M in July
By Dave - Politics DailyFrom NRO's The Corner: Campaign manager Rick Davis just told reporters that McCain raised $27 million in July and had $21.4 million in cash on hand at the end of the month. MORE: Davis says the RNC raised $26 million in July and has $75 million in cash on hand. STILL MORE: As far as the campaign's money is concerned, Davis stresses that since McCain is accepting federal funds, he will have to spend all his primary-season money by the time he gets the money next month. "We are definitely on a decline curve where we will be spending more than we are raising now," Davis said. So that's $21 ...
McCain In the Money Too
By Dave - Politics DailyAccording to the Politico, it looks like McCain cannot thank Hillary enough for her help in leveling the playing field on the money front. For the first time in the campaign, Republican John McCain in May raised about the same amount of money, $22 million, as Democrat Barack Obama. McCain also closed the gap in the amount of cash in the bank the two parties' presumptive presidential nominees have at their respective disposals as they enter the first phase of the general election. McCain reported having about $32 million in cash for primary related expenses at the end of May. Obama reported ...
Dems to Sue (Again) Over McCain Finances
By Liza Porteus Viana - Politics DailyAhh, America, the land of the litigious.The Democratic National Committee is once again trying to sue to force the FEC to investigate whether John McCain violated fundraising regulations after he borrowed $4 million last year and promised to repay the bank by seeking public matching funds if he needed them. He was approved to receive $5.8 million in public money, but turned it down after his New Hampshire and consecutive primary wins. Dems say the funds were used as collateral for the bank loan. "He used the matching funds to get the money when he needed it,'' said DNC General Counsel Joseph ...
Rudy Will Stump for Cash
By Christopher Weber - Politics DailyWas there really a time when Rudy Giuliani was the GOP front runner? Surely that occurred in some alternate reality, right? These days Rudy is unemployed, aimless and deep in debt. To help get rid of some of that red ink, not to mention get back in the public eye, he has come up with an unorthodox idea. Rudy's offering to appear at fund raisers for Republican candidates... as long as some of the cash drummed up ends up in his coffers. That's right, he wants a percentage of the money he helps raise. The unusual request underscores the financial predicament Mr. Giuliani finds himself in, after ...
Contextualizing Clinton Campaign Cost
By Jay Allbritton - Politics DailyThe Daily News has a rundown of some of the things the $212 million Hillary Clinton spent on her presidential bid could have bought instead. According to Celeste Katz, the Clinton campaign could have paid for the following: sending more than 76,000 New York families to Disneyland, 9,838 Toyota Priuses, 70.7 million energy-efficient light bulbs, and several other amusing and ironic purchases. The $11 million Clinton gave her campaign could buy everyone in New York City a lottery ticket. The total campaign cost could have bought everyone in the city a movie ticket. Well, that last one says more ...
Hillary Has Bills
By Dave - Politics DailyAnd I'm sure she could use help from Obama to pay down some serious campaign debt: 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 ...
Hillary in Talks for Bailout by Barack
By Tommy Christopher - Politics DailyThe UK Telegraph reports that Hillary Clinton's campaign is in talks with the well-funded Obama camp to try to recoup some of Clinton's massive campaign debt. In a conference call with major donors this afternoon, contributors were told by Harold Ickes, a senior Clinton adviser, that she was unlikely to pull out of the race until the issue of her massive debts was resolved. The New York senator has lent her own campaign at least $11.5 million. One source close to a major donor said: "It's not about the vice-presidency or any other position she might get. It's about the money – in ...
McCain Taps High-Roller Donors
By Liza Porteus Viana - Politics DailyAs Barack Obama and Hillary Clinton continue their battle for the Democratic nomination, John McCain has been raking in campaign contributions. He's still not raising anywhere near the amount of money as the two Democratic contenders, but he has the advantage of having the Republican National Committee machine behind him. The Los Angeles Times reports that the Arizona senator has been headlining of high-dollar GOP fundraisers from the San Joaquin Valley in California to Wall Street. As a reward for raising $250,000, former Univison Chairman A. Jerrold Perenchio, MGM Chairman Harry Sloan and ...
A Question on Clinton's Debt: Please Help!
By David Knowles - Politics DailyOne of our devoted readers, Mr. Sandy Clark, sent me a very good question this morning:When Hillary does end her candidacy, does she get back the $22 million she has set aside for the General Election to offset her debt?Clinton's campaign is now an estimated $20 million dollars in the hole. Some commentators speculated that she might be staying in the race so that she could raise money to help re-pay it. Given that she has not managed to bring her debt down following Indiana and North Carolina, it seems fair to say that this theory has been something of a stretch. So, back to Mr. Clark's ...
$31 Million in Debt
By Dave - Politics DailyThat's the Clinton campaign blowing out earlier estimates of $20 million, according to papers released in the wake of her Kentucky victory, presumably hoping the news would be lost in the uproar. Nope. My eagle eyes saw it this morning. I thought David Knowles would already have had a story filed, and that he did, but that was two weeks and $11 million dollars ago. From the LA Times: She added another $9.5 million in unpaid bills to vendors this past month alone, pushing her total debt to vendors and herself to the new astronomical figure, about a 50% debt increase in one month. According ...
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