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Thursday, April 10, 2008

Attention Clinton creditors, start calling! She just got more money! (Although, it's just enough to pay Mark Penn's bill)

At the end of February, the Clinton campaign owed a wide range of creditors $8.7 million dollars (including $2.5 million to Mark Penn's firm) -- "earning the campaign a reputation as something of a deadbeat." Now, that's a lot of debt considering the campaign only had $11.4 million available to spend at the end of February. Don't forget, there's still that $5 million loan. Tonight, Jed reports (with video) that UC Davis is considering legal action to collect the debt it is owed by the Clinton campaign.

Basically, at the end of February, the Clinton campaign was in the red. We've been told that the campaign raised "about $20 million" for March (my guess is that "about" means "under") and that "almost all" is for the primary. It's not unrealistic to imagine that the Clinton campaign spent "about" $20 million in March, if not more (and that doesn't include paying off all the massive debt from February). So cash is really tight.

That's why this influx of cash from tonight's Elton John concert should be welcome news to all those small business owners being stiffed by the Clinton campaign. Get on the phone fast, though. You know the Clinton campaign is going to put that money right into t.v. ads. Also, be forewarned that Mark Penn is owed $2.5 million so all the proceeds from the concert could just end up in his pocket.

Sure, we know that the Clintons earned $109 million over the past seven years. But unless she makes another big loan to the campaign, that's not going to help all those people who are owed money by the campaign. So act fast, creditors. Get to the Clinton campaign before Mark Penn swoops in and takes the whole Elton John haul.

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