George Stephanopoulos identified the two biggest impediments that the Clinton campaign currently faces in their increasingly improbable hunt for the Democratic nomination. The first, a fundamental disagreement with the DNC over the Michigan and Florida delegations. The second? Mounting debt. News of Clinton eking out an Indiana win got somewhat swamped under on Wednesday with the disclosure that she had loaned herself an additional $6.425 million dollars to keep her campaign aloft. But on Good Morning America, Stephanopoulos suggested that Clinton's debt load might be much higher than has been reported.
STEPHANOPOULOS: Two points on Howard's interview. Number one, on Michigan and Florida the problem for the Clinton campaign is that the Democratic National Committee right now simply does not agree with the Clinton position. There's going to be a meeting on May 31st of the Rules and Bylaws Committee. The members of that have signaled pretty clearly that they are not going to simply allow the Michigan and Florida delegations to be seated in full force the way Senator Clinton wants them seated. That makes the path even more difficult than the numbers Chris laid out there. Without Florida and Michigan, there's no path to the nomination. The second big problem for the Clinton campaign right now is money. We know that Senator Clinton loaned herself a little more than $11 million. Going into April, the campaign finance reports show the campaign was carrying a debt of $10 million to $15 million. My sources are noW telling that that number is far higher. The campaign debt is far higher than ten million dollars. It could be double that, maybe even more. And the lack of money and load of that debt could be driving the decisions inside the Clinton camp in coming days.
For those who are fascinated with the vagaries of campaign finance and accounting, Jacob Leibenluft offers an Explainer on the topic of campaign debt over at Slate.