The Money Pit, and more
Hillary Clinton…reports $22.5 million on hand (minus debt) that she can spend during the primary, while he has $19 million. But $10 million of Clinton’s total comes from funds transferred to her presidential campaign from her Senate campaign committee (i.e., funds raised last year). So when it comes to net primary cash-on-hand raised this quarter, Obama has a substantial edge – $19 million vs. $12.5 million. Hillary padded her fund-raising total with almost $7 million that she can only spend in the general election. This might as well be Confederate currency…the rout gets even more substantial as you probe the fine print.
* Hillary raised extensive contributions, certainly more than $1 million, from special-interest political-action committees (PACs) and lobbyists. Obama refused to tap this source of funding and even returned $50,000 he’d received from lobbyists.
* An estimated three-quarters of Clinton’s donors have maxed out, (that is, given the legal maximum of $2,300 a person for during the primary), vs. with fewer than half of Obama’s contributors, according to news reports. Most of his donors can keep giving; most of hers can’t.
* Obama out-raised Clinton on the Web by 3:2. Internet money is especially valuable because it can be tapped repeatedly and quickly, as Howard Dean showed in ’04.
* Hillary didn’t list any expenditures for candidate travel, charter flights, makeup or hair. She may have rolled over this spending so as not to have to deplete her cash-on-hand showing.
Stretching her payables? Not fitting behavior for the woman who has been given an 80% chance of winning the presidency.