Clinton Debt Larger than Reported

[powergirl]

She hasn't included her personal loan of $5 million in her report. Also, we still don't know how much she will be in the tank after the April expenditures.

"Hillary Clinton's campaign debt at the end of March was bigger than it appeared because she didn't list the $5 million she loaned herself, a campaign finance watchdog group reported this afternoon.

"Clinton, in her filing with the Federal Election Commission, reported that her campaign had $9 million in cash on hand as of March 30, and $10 million in debts.

"The Clinton campaign itemizes its debts to vendors, totaling $10.3 million by the end of last month, but since January, when Clinton infused her campaign with $5 million, the campaign hasn't been adding in that loan when reporting its overall debt to the Federal Election Commission," the Center for Responsive Politics said.

"An FEC representative tells us Clinton's debt to herself, even if she won't be paying it back, should be lumped in with the campaign's debts to others on the first page of the monthly filings, not just listed deeper within her disclosure forms -- that's how the other big self-funder in 2008, Mitt Romney, reported the $42 million he lent himself."

"Including the loan would put her debt as of March 30 at $15.3 million, the nonpartisan group said.

"Since winning the Pennsylvania primary on Tuesday, Clinton's campaign says it has raised $10 million and counting online."

http://www.boston.com/news/politics/politicalintelligence/2008/04/clinton_debt_la.html



:wtf:

[woolldog]

1. she doesn't have to pay back that loan, I believe...

[powergirl]

8. But the article states that she still has to

file the information in the FEC report. That way the FEC can make sure that she isn't getting loans from the wrong places, etc.. She probably won't pay a lot of the debts. I think it is calculated to make her campaign seem more "sound" than it is.

[PBS Poll-435]

9. It gets worse...She can write off a portion of her unpaid loan on her tax return!

:rofl:

[Bonobo]

17. She's probably paying herself interest. With donations from her supporters!

[The Doctor.]

25. The campaign is a legal entity, and therefore must repay all debts...

otherwise one could 'technically' accept loans from any source under their campaign and never be held liable.

I could be wrong, but it would be a great 'kickback' scheme if there were no such restrictions.

[SoCalDem]

2. Hillary lied on paperwork??? I am SHOCKED

Utterly SHOCKED, I tell 'ya..

[cliffordu]

20. FOCK!!!! LOL !!!!!!

:rofl:

[BeyondGeography]

3. The Clintons are poor little rich kids who should be laughed out of the room

[galaxy21]

4. I think the five million will be written off

Mitt romney 'loaned'himself like $40 million he will never see again.

[BeyondGeography]

6. Not to worry, they'll hold a gala "Ode to Boomer Entitlement" fundraiser to pay themselves back

[cliffordu]

22. Hey - I'm a boomer and I want some of that entitlement!!!!

[kenny blankenship]

5. Sittin' Pretty!

[XemaSab]

15. The person holding that cat is about to learn what PAIN is

:scared:

[UALRBSofL]

7. What this should tell you is she really isn't in the red at all

She isn't required to pay herself back $5 million dollars by the campaign and so if she doesn't, as from what I understand she can take it off of her taxes. Also, this week is a huge money raising week for her. She is most likely out of debt and has a lot of overhead money to spend in NC, IN, OR.

[Jane Austin]

10. How much of her recent money can be spent in the primary

and how much is off limits until the GE, if applicable?

[powergirl]

11. What about the money she spent in the month of April?

That is not included in the report. Nor are the debts that she incurred in April.

[merh]

14. but will she pay her debts?

she hasn't yet

[ORDem]

19. She can't "take it off her taxes", nice try.

1) You can't deduct the loan from her income (it would be a deduction from income, not taxes) unless it's a bad debt (uncollectable, and how is a loan to yourself uncollectable? Also, it would have to be less than her adjusted income anyway.

2) If she could somehow deduct it then it would be a campaign contribution from herself, far exceeding the legal limits. And political contributions are not deductible from federal income anyway.

Are all Hillary supporters so friggin' dense?

:dem:

[islandmkl]

12. them clintons just ain't good with math, is they?...

and the best of all: the $5 million 'doesn't count' against anything...

easy for a hillbot to say, it ain't their $$$....

i imagine bill and hill would just as soon have the 5 back if they aren't getting some overnights at the White House for their money...

[InAbLuEsTaTe]

13. Are you suggesting Hillary would lie?! Say it ain't so!

[guruoo]

16. so a debt to herself counts same as a debt to others, even though she dosn't

have to, ahh, repay it? OK! heheh!

[ORDem]

21. No. See my reply above. HRC supporters really, really, aren't good at math or fiscal matters. nt

[guruoo]

24. I'm going to let Hillary worry about repaying her campaign debt.

[jazzjunkysue]

18. She keeps forgetting that she can't go after McCain in the red, either.

Take her charge card away!

[PBS Poll-435]

23. It is a lie. CRP didn't do their homework on this one.

Sch C3 lists the loan. Page one summarizes the schedules.

Easy as that.

Bullspit.

[Egnever]

26. "We were lying about money,"

Wouldnt be the first time they lied about cash on hand.

http://www.swamppolitics.com/news/politics/blog/2008/02/clinton_campaign_manager_out.html


But even more problematic was the campaign's money crunch. Over the last seven years, Clinton had raised $175 million for her reelection and her presidential campaign. But Solis Doyle didn't tell Clinton that there was next to no cash on hand until after the New Hampshire primary.

"We were lying about money," a source said. "The cash on hand was nothing."

[mod mom]

27. I have QUESTIONs-Since Bill & HRC filed separate returns, can he only contribute the standard

$2,300 to her campaign? Does it change the loans to the campaign? or is there no effect at all?

[MagickMuffin]

28. Ready to DECEIVE on DAY 1

Should she get back in the WH, think of how they would balance the budget?.?.? OUCH, it won't be pretty.