Obama Campaign Raising Money for Hillary Clinton

by InvestorPlace Staff | April 27, 2012 5:48 pm

investorpoliticsletters2 Obama Campaign Raising Money for Hillary Clinton[1]Four years after President Barack Obama’s campaign defeated Hillary Clinton, it is now extending her an olive branch. The campaign is asking donors and fundraisers to give money to Clinton’s old presidential campaign committee to help her retire $245,00 in debt from 2008.[2]

The efforts came about as a result of promised efforts by former president Bill Clinton to raise money on behalf of Obama and Obama’s Super PAC. In exchange, it appears that the Obama apparatus will assist Hillary Clinton in clearing her debt. As Secretary of State, Hillary Clinton cannot engage in political activity or fund-raise on her own behalf.

This sort of tit-for-tat deal isn’t uncommon between candidates that win nomination and those that are defeated. Mitt Romney, for instance, paid off the debts of Tim Pawlenty’s campaign after Pawlenty left the nomination race and endorsed Romney. For Hillary Clinton and Obama, though, it is a bit more unusual. Clinton left the 2008 campaign with nearly $20 million in debt and loans, and not all of Obama’s supporters at the time heeded his call to help defray her expenses, citing the fractious primary fight as their reason for not helping.

It would appear that time — and the looming threat of the general election — may heal all wounds, and Clinton’s wallet, to boot.

– Benjamin Nanamaker, InvestorPlace Money & Politics Editor

The opinions contained in this column are solely those of the writer.

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Endnotes:
  1. [Image]: mailto:letters@investorplace.com
  2. retire $245,00 in debt from 2008.: http://thecaucus.blogs.nytimes.com/2012/04/27/obama-campaign-raises-money-for-hillary-clinton/

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