June 25, 2008

• Pay Off...Hillary?

  I am perplexed about something.  While I completely understand (and agree) that the debts incurred during the primary presidential campaign of Hillary Clinton need to be addressed and reduced with the help of the Democratic National Committee and democratic supporters everywhere, I suddenly stop short when it comes to the money Hillary "lent" her own campaign.

  If I was a Hillary supporter (which I would have been, had she won the nomination) and had contributed money like I have to the Obama campaign, I would want to know why I can't have my own money back as well, if Hillary is entitled to a refund of hers.

  Campaign finance is a tricky thing, for sure.  Candidates ask for non-refundable contributions to their campaigns from the American citizens they promise to represent, protect and lead.... but are allowed to "loan" themselves as much money as they think they need, with a good chance that money will be returned to them.  Anyone see a double standard here?  I am investing my own hard earned money in a candidate, and they classify it as a contribution, an investment I basically lose when my candidate is not elected.  But when a candidate invests their own money - not as a contribution, but a LOAN, and fails to clinch the nomination - they get their money back?  It doesn't seem very fair that we the people have only the option to invest in the equity of the candidate, while the candidate him/herself gets a payable recorded in their name.....and not to open a can of worms, but I just wonder what kind of interest rate Hillary charged on her "loan"......

  Basically, this formula assumes that loans to campaigns are legal, assuming the loans are repaid by contribution dollars.  So any candidate can go out, secure a billion dollars in loans for their campaigns, and if they lose, they have to suck their party dry for reimbursement?  How is this sensible?  And no wonder our country is financially in the toilet - maybe someone needs to start electing CPA's to congress, because clearly, our government has no clue about debits and credits....

  Why do I not have the "loan" option?  Just curious here.  I'm not saying the democratic party shouldn't rally together, financially help out the former Clinton campaign, and join hands to get their nominee elected, but come on - it's just another example where politicians are able to protect their own - and the American People end up paying for it.  Literally.

  

   

  ***edit***...this just in, which actually has me applauding Clinton...although it still doesn't excuse the system...

  In a fundraising appeal this morning, Hillary C linton explicitly stated that she is not looking for donations to cover the $12.5 million she loaned her own campaign.
  
  "As you know, I had to loan money to my campaign at critical moments, C linton writes. I'm not asking for anyone's help to pay that back. That was my investment and my commitment because I believe so deeply in our cause.  But I do need your help paying the debts we accrued to others over the course of this campaign, she continues. "

   

   

  • 1:17 pm
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