Bachmann Reports Campaign Debt Of About $90K
MINNEAPOLIS (AP) — The campaign of former presidential candidate Michele Bachmann said Tuesday it had about $90,000 in debt at the end of 2011 in the final days before Iowa's precinct caucuses.
The Minnesota Republican had $358,725 in cash on hand as of Dec. 31, but outstanding obligations of $447,040, her campaign said in a statement. Bachmann raised $1.7 million in the fourth quarter of 2011.
The figures don't reflect any late spending and donations after Dec. 31 through Iowa's caucuses on Jan. 3. Bachmann had counted on a strong showing in Iowa's leadoff caucuses but dropped out of the race the day after she finished last out of six candidates.
"The campaign is in the process of quickly retiring outstanding obligations in short order," campaign manager Keith Nahigian said in the statement.
Bachmann's campaign also said it took in 34,872 contributions from 24,825 donors during the quarter for an average contribution of $49.22.
If Bachmann ultimately has money left from her presidential campaign, she could transfer it to her congressional re-election campaign. She announced last Wednesday she'll seek a fourth term representing Minnesota's 6th District. She had no trouble raising money for her earlier campaigns.
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