Clinton cuts down the size of her debt
WASHINGTON – Sen. Hillary Rodham Clinton has reduced the size of her presidential campaign debt to less than $7.5 million as of Nov. 1, according to campaign finance reports filed Thursday.
Thedocuments show Clinton raised nearly $690,000 in October, a minor sumcompared with the $218 million she amassed in her failed presidentialbid.
Of the $7.5 million owed tovendors, nearly $5.4 million was to her former adviser and pollster,Mark Penn. Clinton owed vendors a high of $12 million at the end ofJune. That was the month she abandoned her presidential campaign and ceded the Democratic nomination to now President-elect Barack Obama. >>>> more news>>>
The amount she owes Penn has been her longest outstanding debt.Shealso lent herself nearly $13.2 million. Under federal law Clinton canonly repay herself $250,000 with private donations. The report alsoshowed that she had nearly $1 million cash on hand at the end of October.
Obama is considering Clintonfor secretary of state. As a Cabinet member Clinton would facefundraising restrictions to retire her vendor debt.
A 2001 advisory opinion by the federal Office of Special Counselsaid a federal employee who still had a campaign debt would beprohibited from "personally soliciting, accepting or receivingpolitical contributions."Clinton couldname an agent from her campaign committee to continue to organize andhold fundraising events to retire the debt. Clinton would be limited toattending a fundraising event and simply stating her appreciation todonors.
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