Obama's war chest spells trouble for Clinton
Agence France-Presse
First Posted 07:18:00 04/23/2008
Filed Under: US elections, Politics
WASHINGTON – If money is key to winning in politics, the war chest Barack Obama has amassed could help him prevail once and for all in his hard-fought battle for the Democratic nomination over Hillary Clinton.
The Illinois senator has raised $234.8 million since launching his campaign, and as of April 1 had about $43 million available to fund his primary battles, according to the Federal Electoral Commission (FEC).
In late March, Team Obama had debts of about $660,000.
In contrast, Clinton -- who has raised $175.7 million since kicking off her campaign -- is in the red. She has some $10.3 million in debts, and as of April 1 she had about $9.5 million to cover expenses.
Clinton's $175.7 million does not include $10 million which she transferred from her Senate campaign account to her presidential campaign account, and a personal loan of $5 million she gave to her own campaign.
According to The New York Times, Obama spends $0.75 out of every dollar raised, and Clinton spends $1.10 for every dollar raised.
The data released Tuesday does not take into account the campaign in Pennsylvania, where voting was under way Tuesday.
"We are very proud of the non-traditional approach we have taken to fundraising," Obama told a press conference in Pittsburgh.
"When you have a million and 300,000 donors or a million and a half donors who have been giving $25 a month or $50 a month, they are in the position to sustain a campaign a lot longer than a smaller group of donors.
"And I think that bodes well for our ability to compete in November."
According to the specialist website CMAG, Obama's camp spent $11 million just on television ads in Pennsylvania from March 18 to April 16, while Clinton spent $4.5 million during the same period.
Clinton aide Howard Wolfson said in a teleconference: "This campaign has resources" and pledged "we will be honoring our debts in the coming months."
The two candidates were Tuesday awaiting the outcome of the Pennsylvania primaries, with Clinton tipped for victory although many observers believe it will take a double-digit triumph to stave off more calls for her to quit the Democratic nomination race.
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