Clinton finances are better for general election

By Jeff Mason

NEW YORK (Reuters) - Democratic presidential hopeful Hillary Clinton has more money at her disposal for a general election -- which she may or may not be able to use -- than for the current contests against rival Barack Obama, records show.

Obama, a senator from Illinois, and Clinton, a senator from New York, both had record fundraising totals in February. Obama raised some $55 million and Clinton $35 million.

Both have out-raised John McCain, the presumptive Republican nominee for the November election to determine who will succeed President George W. Bush in the White House.

But Clinton has significantly less money available than her Democratic rival because of higher debt and funds raised that can only be used if she becomes their party's nominee.

Clinton had some $10.9 million in cash left at the end of February compared with $31.6 million for Obama, according to an analysis by the Washington-based Campaign Finance Institute of the candidates' filings with the Federal Election Commission late this week.

Clinton had significantly higher debts -- she owed $8.7 million, not including the $5 million she herself lent to her campaign. Obama had about $625,000 in debt to be paid.

Subtracting the debt from her cash in hand leaves the former first lady with only $2.2 million for the upcoming primaries in Pennsylvania and elsewhere, which will be crucial to her candidacy as she tries to close the gap with Obama, who has accumulated more of the pledged delegates who determine the eventual Democratic nominee.

Clinton has $22 million raised that can only be used in the general election under FEC rules. Obama, who has beaten her in overall fundraising, has $7 million.

A Clinton spokesman said the campaign debt would be paid and was not a worry.

"We're going to have the resources that we need to compete and do well in Pennsylvania and the states after that," communications director Howard Wolfson told a conference call with reporters on Saturday.

"Fundraising continues to be strong."

Wolfson said the financial support that kept coming in was a sign that Democrats did not want the Clinton-Obama race to end, and the campaign pointed out that despite being outspent by Obama, Clinton won contests in Ohio and Texas this month.

McCain, whose candidacy almost imploded last year when his campaign nearly ran out of money, has run a bare-bones operation since then and is now spending much of his time trying to fill his coffers.

After spending the past week on an overseas trip to the Middle East and Europe, the Arizona senator will go on a fundraising spree through a handful of Western states starting on Monday.

(Editing by Mohammad Zargham)