Figures. Obama Campaign Spends More Than it Takes In – Borrows From Evil Bankers

Here’s a little reminder of Barack Obama’s spending record:
Trillion dollar deficits from here to eternity…

(J. Hoft Chart)

$5 trillion to national debt in a little over 3 years.
A new world record.

(Heritage)
Soon to be $6 trillion.

So is it really that surprising that the Obama Campaign overspent and is borrowing from Bank of America?
The Washington Free Beacon reported:

Obama For America took out a $15 million loan from Bank of America last month, according to the campaign’s October monthly FEC report. The loan was incurred on September 4 and is due November 14, eight days after the election. OFA received an interest rate of 2.5% plus the current Libor rate.

Warren Buffett, Obama donor and namesake of the infamous “Buffett Rule,” invested $5 billion in Bank of America last year in an effort to help the ailing financial institution. Last month, two weeks after OFA took out the loan, Bank of America announced a plan that would lay off 16,000 workers by the end of the year.

More… Via Glenn Reynolds: RNC TROUNCES DNC IN FUNDRAISING AS DEMOCRAT PARTY GOES ‘BANKRUPT:’ “Somehow, this seems an apt metaphor for the Obama era,” Stacy McCain writes.

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Jim Hoft is the founder and editor of The Gateway Pundit, one of the top conservative news outlets in America. Jim was awarded the Reed Irvine Accuracy in Media Award in 2013 and is the proud recipient of the Breitbart Award for Excellence in Online Journalism from the Americans for Prosperity Foundation in May 2016. In 2023, The Gateway Pundit received the Most Trusted Print Media Award at the American Liberty Awards.

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