The Politicus
columnist: jposty

Topic: Presidential Campaign 2008
Presidential Campaign’s Indebtedness: A Glimpse Into Economic Policy

---

A look into the astronomical debt mounting within the three remaining presidential campaigns, and how it provides a glimpse of their future economic policy as “Economic Adviser in Chief.”

---

by jposty
(Libertarian)
Monday, March 31, 2008

The most egregious example of this behavior was in Ohio where the campaign hired two companies for $25,000 to plan a rally for her. Now these companies are telling anyone within their tight-nit industry  and anyone else who will listen  to get paid up front.

Although, this isn't an uncommon thing for campaign's to do when they are cash strapped, it is tough to sell that you are in fact for the "little guy" when you are stiffing them on the bill. There have been several reports throughout this campaign cycle of her failing to pay her invoices such as her dealings with a New Hampshire landlord, an Iowa office cleaner and a New York caterer.

The Politico piece continued to illustrate a seemingly habitual practice of late paying or not paying phone banks, advertisers and pollsters, however, it paid little credence to solvency. The manner in which a campaign conducts itself financially is a glimmer into how the candidate and subsequent administration will conduct itself while in office.

According to FEC filings at the end of February, all three candidates running for the presidency are in debt, albeit some more than others. Clinton coming in first with a staggering $8.7 million debt, McCain placing second with $4.1 million in debt and Obama coming in last with a paltry $625,000 in debts. Obama's debt total is somewhat misleading, although he is under a million in debt, his campaign's total expenditure is overwhelming. He simply raised more than either of the two remaining candidates, and even more to the point - paid his bills.

Even the other "top tier" candidates that have since dropped out, had an astronomical debt. Edwards, Huckabee, and especially Romney were running in the red for the better part of their campaign's. All except for the good doctor: Ron Paul.

Paul who was never once in the red and since "winding down" his presidential bid still remains $5 million in black  a surplus. With the current liquidity problems of the US market, wouldn't the natural selection for "Economic Advisor in Chief" be the candidate who was able to run a fairly effective campaign within budget and still maintain a healthy surplus?

With the US debt closing in on the 10 trillion mark, and the current trade deficit the country should be more thrift worthy and focused on maintaining a sound economic policy rather than borrowing and putting off debt to a later date, something the current administration is all too familiar with.

With Dr. Paul's likliness of becoming the next president at almost nill it seems unlikely whoever the next president may be will end the practice of incurring debt. Some might say Obama would be the lesser of the three debtors, his solution to economic difficulties is simply raise taxes (ie, campaign fund-raising) rather than spending more frugally or simply lowering the budget to stay within his allotted funds.

Regardless of who becomes the next president, one thing is for certain, the FED's printing presses will see no rest in the near future.

www.thepoliticus.org

Did you like this article?
If you did, Thumb It!
11 thumbs so far

2008 jposty, all rights reserved.
Published: Monday, March 31, 2008
Last modified: Monday, March 31, 2008

The views expressed in this article are those of jposty only and do not represent the views of Nolan Chart, LLC or its affiliates. jposty is solely responsible for the contents of this article and is not an employee or otherwise affiliated with Nolan Chart, LLC in his/her role as a columnist.

Report violation by jposty of Nolan Chart LLC's terms of use policy.