KEY POINTS:
No longer distracted by the toil of hunting for votes, Hillary Clinton is now confronting the financial hangover of her now-suspended primary campaign, with a sea of debts to pay businesses contracted by her across the country as well as recouping the money she loaned herself.
While accountants are still crunching the numbers, it is likely that the former first lady has racked up the largest presidential campaign debt in history - an estimated US$20m. Her options for erasing it appear limited and may include seeking help from her former rival, Barack Obama.
According to the non-partisan watchdog group The Centre for Responsive Politics, Mrs Clinton ended her campaign on Saturday with bills totalling US$9.5m, some owed to high-priced consultants. That is on top of the US$11.4m she loaned her campaign in March and April to keep it afloat.
Private talks are expected in New York tomorrow between some top Clinton fundraisers and Mr Obama's campaign manager David Plouffe to explore whether there is any mileage in asking supporters of the presumptive nominee to channel some dollars to Mrs Clinton to help her reduce those debts.
Mrs Clinton's financial difficulties echo those of Senator John Glenn, who ended his failed presidential bid in 1984 with a debt of nearly US$3m. He spent more than 20 years trying to pay it off before the Federal Election Commission finally gave him a reprieve.
Among those waiting for payment for services to the Clinton effort is Mark Penn, who was chief strategist until being demoted in a mid-campaign reshuffle. He is reportedly still owed US$4.8m, while another key adviser, Mandy Grunwald, hopes to be paid more than US$695,000.
Persuading Mr Obama's supporters to channel money to help her may be a tall order. Not only are they being asked to continue to fund Mr Obama's campaign until November, but the national party is looking for support as it trails the Republican Party badly in fundraising.
By suspending her campaign rather than ending it completely, Mrs Clinton is still able to look for donations through her website. And indeed, loyal backers have sent her US$1m since the polls closed in the final primary states, Montana and South Dakota, last week.
The pressure is intense because, under finance rules, she has until the party convention in August to pay back what she owes herself. Otherwise, she could recover a maximum of US$250,000.
Mrs Clinton does have US$23m raised from donors for the presidential election she will no longer contest. That money in theory could be transferred for use in a future Senate re-election campaign. But it is unclear if she could legally use any of it to pay down her primary campaign debt.
- INDEPENDENT
