Thursday, April 16, 2009

Clinton gains in bid to clear campaign tab


U.S. Secretary of State Hillary Clinton's presidential campaign committee reports it now has enough funds to pay off her campaign debt.

The committee filed finance documents with the Federal Election Commission Wednesday, reporting a total of $2.3 million in debts at the end of March, compared with $2.6 million in the bank, CNN said.

It was not clear, however, whether the entire amount would be used to even up the campaign tab since fundraising activities were continuing.

The nation's top diplomat has been steadily chipping away at unpaid campaign bills since last June when she suspended her bid for the presidency.

The debt peaked at $25.2 million, which included $13.2 million she lent her campaign from personal funds. Since she could not repay the personal loan by the time the Democratic National Convention convened in Denver in August 2008, she had to forgive that sum, officials said.

The Clinton campaign owed $6.4 million to 16 creditors at the end of November and 5.9 million to five creditors at the end of December.

The current $2.3 million is owed to one creditor, Penn, Schoen & Berland, a political consulting and polling

firm that advised Clinton during her presidential bid. The firm's president, Mark Penn, served as Clinton's senior strategist during the campaign.

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