Hillary Clinton struggles with over 20 million dollars debt

June 20th, 2008 - 4:35 pm ICT by ANI  

Washington, June 20 (ANI): New York Senator Hillary Clinton will have to bear the entire 11 million dollars loan she gave her campaign because the fund-raising has dried up.

Hillarys push to retire her debt — more than 20 million dollars including her loan — is going so poorly that getting help to pay it down has become a major point of negotiation with Democratic presidential candidate Barack Obama, who wants Hillary to help smooth things with angry Clinton die-hards, sources have said.

I have raised nothing since the campaign ended, The Daily News quoted a Hillary fundraiser, as saying.

Sources said the fact that they have all but written off their own loan suggests they’re favouring the local caterers and printers they used for campaign events.

Even the Clintons wouldnt pay themselves back before they pay the little guy in Iowa, a Clinton fund-raiser said. After she quit, the money dried up, the source said.

Another source said that Clintons campaign failed to understand modern fund-raising, in spite of raising a stunning 220 million dollars.

It was a pre-Internet strategy, said a top Democratic official. You go to your big donors and get them to max out. Now it’s almost impossible to get money because it’s over. Why would somebody want to give to retire a debt for somebody who lost?

Clintons best shot at retiring her debt now lies with Obama, who has built the best political cash machine ever seen. Sources said she wants Obama to tap his full grass roots ATM, but negotiations were going on. (ANI)

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