Obama to Help Clinton Pay Off $10 Million Debt
By Diane Smith
16:56, June 25th 2008
28 votes
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Obama to Help Clinton Pay Off $10 Million Debt

After a very long and tough campaign to clinch the party nomination in the presidential elections, Barack Obama and Hillary Clinton seem to get along better than expected.

After Clinton and her husband, former U.S. President Bill Clinton, agreed to support Obama in the race to the White House, the Illinois Senator said he will help Hillary pay off her debt, The Associated Press reported.

On Tuesday, the only Democrat left in the race for the White House asked his finance team to help Clinton pay back about $10 million from her failed presidential campaign. Obama’s move comes just two days before Clinton and he will host their first joint rally, which was scheduled Friday in the town of Unity, New Hampshire, where both candidates received 107 votes in the primary elections.

Obama also asked his top fundraisers in a teleconference to help the New York Senator pay her debt, Obama campaign spokesman Robert Gibbs said.

The race between the two Democrats ended this month when Obama clinched the party nomination and Clinton suspended her campaign and endorsed her rival. At the end of May, Clinton reported a debt of nearly $22.5 million. More than 50% of that debt was a personal loan to her presidential campaign. The former first lady told her fundraisers last week that she would concentrate on paying off money owed to vendors, not her personal loans.

Since Obama’s victory in the primary elections, his campaign’s finance team expanded considerably and now the Illinois Senator has a broad base of potential assistance to Clinton. More than 200 fundraisers attended the campaign's national finance meeting in Chicago last week, but many more weren’t able to attend.



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