Hillary Clinton Writes Off $13.2 Million Campaign Debt

Hillary Clinton Writes Off $13.2 Million Campaign Debt: "Hillary Clinton Writes Off $13.2 Million Campaign Debt" By Jonas Oliver Article Date: 12/22/2008 4:46 PM According to published reports Sen. Hillary Clinton has formally written off the $13.2 million she lent her 2008 presidential campaign. The move now paves the way for Clinton’s Senate confirmations as U.S. Secretary of State in the Obama administration. At key points in her campaign to win the Democratic presidential nomination, Clinton made loans to her campaign in order to stay competitive with Barack Obama who began to pull ahead of her in terms of fundraising midway through the primary season. Since losing the nomination in a tight battle that nearly went to the convention floor, Clinton has been engaged in efforts to raise funds to cover the debt. Numerous solicitations have gone out to Clinton supporters over recent months from Hillary Clinton herself as well as from former president Bill Clinton, Chelsea Clinton and even Hillary’s mom Dorothy Rodham who offered an autographed copy of a book about Clinton for a $250 contribution. President-elect Obama and Vice-president election Joe Biden have also sent out fundraising appeals on Clinton's behalf. Clinton, 61, had earlier said she didn’t expect to be repaid for the money she donated to her campaign. The money will now be considered a campaign contribution, which isn’t tax-deductible, FEC spokesman Bob Biersack said. Still Clinton’s sizeable donation may have been well worth the impact it will have on the way that history will look back on her campaign. “It allowed her to stay alive in those final months when she really found her voice with the American public,” said Julian Zelizer, a professor of history and public affairs at Princeton University in New Jersey, according to Bloomberg. “That, combined with future accomplishments at state, could be pivotal in the long run to how the public and historians talk about her role in contemporary politics.”