Leftover campaign funds

AND CAMPAIGN DEBT

HRC left the 2008 Presidential campaign $25 million in debt.

According to the article below, vendors often swallow the loss.

(or the banks ? swallow the loss ?)

The FCC is just now getting a grip on the issue of campaign booty – how it is used in illegal ways

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https://www.tampabay.com/investigations/2018/08/20/zombie-campaigns-still-spending-as-fec-says-no-crackdown-until-2019/

https://archive.is/ujUR8

Aug 20, 2018

Zombie campaigns still spending as FEC says no crackdown until 2019

The agency had previously announced an earlier start date, but now says that was a mistake.

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https://www.tampabay.com/projects/2018/investigations/zombie-campaigns/spending-millions-after-office/

https://archive.is/Wr0uo

Jan 31, 2018

The campaign is over. The candidate might be dead. But the spending never stops.

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https://www.miamiherald.com/latest-news/article101662497.html

https://archive.is/q5dvw

October 2016

has a list at the bottom of the article of all the 2016 campaigns

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While some candidates end up with cash left over, many run into debt by the time they choose to drop out of the race.

Jeb Bush, Rand Paul, Marco Rubio and Scott Walker all racked up debt since halting their presidential bids, although all except Bush are currently holding office, which makes it easier to raise funds.

“They can try to raise contributions after they dropped out, but that’s very hard to do,” Noble said. “What a lot of them do is carry the debt, and if they decide to run for another federal office they transfer the debt.”

Clinton had nearly $25 million in debt after her failed presidential run in 2008. That sum was paid off in 2013, about 18 months before she formally declared her candidacy for 2016. Another presidential loser, Republican Newt Gingrich, will never pay $4.6 million in debt from his 2012 campaign. Gingrich will not face any civil or criminal action for stiffing businesses that provided services to his campaign like yard signs and phone-banking.

“It’s a rough situation for vendors,” Noble said. “If you have a losing campaign you may not get paid.”

None of the 2016 candidates has as much debt as Clinton or Gingrich.