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February 7, 2008
Is Hillary out of money
Having raised close to $120 million dollars this year on her presidential run, questions are being raised about just how much money Hillary Clinton has left?
Hillary Rodham Clinton personally lent her cash-strapped campaign $5 million late last month, and some top staffers are now going without pay, officials acknowledged yesterday. Meanwhile, Obama is drowning in cash. After raising $32 million in January, the Illinois senator is on track to raise another $30 million this month -ungodly sums of money that the Republicans have so far proven unable to come close to matching.
The moves were revealed as Clinton and Barack Obama hun kered down for a war of attrition for the Democratic nomination after Super Tuesday failed to crown a winner. And a series of contests in the coming weeks seem likely to favor the Illinois senator.
"My opponent was able to raise more money, and we intended to be competitive and we were. I think the results last night proved the wisdom of my investment," Clinton told re porters yesterday, after spokesman Howard Wolfson confirmed the loan.
No doubt this loan to her campaign is a bridge loan until she can refill her coffers. She has stepped up her online fundraising efforts and has raised $3 million in 24 hours. But the temporary gap in fundraising couldn't have come at a worse time. Crucial primaries in Virginia, Maryland, and Washington, D.C. are coming up and the Baltimore-Washington media market is not cheap to advertise in.
She will need every penny to compete with the suddenly deep pockets of Obama.