Obama borrowing money for campaign
By laglen
@laglen (19759)
United States
October 20, 2012 10:06am CST
OMG I am not even sure how to phrase this. But holy crap. Obama's campaign borrowed $15 MILLION from Bank of America for the final two months of his campaign. This leads me to so many questions.
how can a man that can not spend with in his means for his campaign, spend with in his means for the country? He gets so much free press coverage as it is. He is an incumbent president. If he is so great for the country why would he need to borrow money to campaign?
I guess this explains our growing deficit.
What do you think of Obama borrowing from a bank that he helped with his bail outs, that is funded by Warren Buffet ($5 Billion), the bank that contributed $20 million to the DNC this year and that has recently announced the lay off of 16,000 people.
http://freebeacon.com/obama-campaign-borrows-15m-from-bank-of-america/
Holy crap - yep, we are doing so much better! 
7 responses
@stary1 (6612)
• United States
20 Oct 12
laglen
Wow this is the fist time I heard Obama has to borrow money...good point of
spending within his means'...
Bit won't the Democratic party have to repay the funds borrowed..or maybe it will come from a few of his very wealthy backers..like Soros...
2 people like this
@bestboy19 (5478)
• United States
21 Oct 12
I would think it would have been obvious even before the campaign that Obama can't handle money.
2 people like this
@flowerchilde (12529)
• United States
22 Oct 12
Wow! That whole thing is crazy! I think you summed it up very well! Holy Crap is right!! I don't expect our esteemed (liberal) news outlets to be reporting on it however!
@burrito88 (2774)
• United States
21 Oct 12
Romney borrowed 20 million for his campaign. I guess that proves he's a good money nmanager.
1 person likes this
@Rollo1 (16679)
• Boston, Massachusetts
21 Oct 12
He borrowed it from the Bank of Georgetown. The campaign borrowed the money ahead of the Convention because, due to Romney not yet being the official nominee, there were funds his campaign could not touch at that time. If you remember, there was a lot of news about what a campaign war chest he would have ONCE he became the nominee. This was simply to handle cash flow problems until the nomination was official. The campaign had plenty of money in reserve but could not use it.
Obama borrowing such a large amount with just a couple of weeks to go smacks of desperation and disappointing donations. However, he must have some assurance that this loan will be covered if donations don't catch up. I mean, he could be out of a job in a couple of weeks. I wouldn't borrow $15m unless I knew who was going to pay it back. Which makes me wonder - who's promised to pay it back?
2 people like this
@debrakcarey (19887)
• United States
20 Oct 12
Sure hope he can pay it back, that amount of money could cause another bank failure if he defaults. 
2 people like this
@subhojit10 (7375)
• India
20 Oct 12
Thanks a ton for posting this discussion. Well it was indeed shocking to hear that Obama used so much of funds that too from bank of America just to strengthen his campaign this time. i think he is doing the biggest mistake by misusing the funds that might have been used for the development of the country. No doubt money is involved in campaigning but there is no point in borrowing it from a nationalized bank.
What say?
1 person likes this
@iVitaliGM (41)
• Lithuania
22 Oct 12
Hey... it's my own interpretation of Romneyamnesia!
Some days ago I have been surfing the Net and found quite interesting article on the Web concerning the Campaign of Romney.. i have been reading the whole night... it was super)
That's why I have written insomnia)
Take it easy, guys!
