Here’s the bad news: our country is in a financial hurt box. Here’s the worse news: the people with all the financial answers are being fined almost a quarter of a million bucks in handling their own money. Are you sure you want these guys to have more of your money?
This weekend an audit by the Federal Election Commission (FEC) was released showing major financial errors and money mishandling by the 2008 Joe Biden Presidential campaign. It seems Joe and his folks were sloppy with bookkeeping and took excessive and inappropriate contributions. The money handling was so bad that the Biden campaign has been fined $219,ooo. Yes, the second most powerful man in the world, the guy who wants to handle your checkbook couldn’t manage his own.
This wasn’t just bad money handling. There were even accepted illegal contributions by the Biden campaign.
“(The audit) determined that the Biden campaign accepted an illegal corporate contribution in the form of a round-trip flight between New Hampshire and Iowa in June 2007 for three people. The Biden campaign paid GEH Air Transportation $7,911 for the first-class airfare, but regulators say the campaign should have paid the charter rate of $34,800.” – AP News
Did you catch that? It was an illegal contribution. According to the LA Times, the plane is owned by a New York hedge fund called the Clinton Group. That fund is controlled by a major Democrat donor, George E. Hall, who is being investigated by state Atty. Gen. Andrew Cuomo.
Biden also took at least$106,000 from contributors who already gave the limit of $2,300. And Biden owes the US Treasury $85,000 for state-dated checks. I wonder if the Treasury can just withhold that from the VP’s paychecks until he is all caught up.
In addition to all of that, the audit showed that Biden and his campaign failed to disclose $3.7 million in payments and $870,000 in debts. Oops. But don’t worry, I’m sure all the figures the Obama-Biden administration is using on Obamacare are more exact.
Elizabeth Alexander, a Biden spokeswoman called the near quarter of a million fine “relatively small”. I’m sure that the millions of unemployed and hurting families are happy to hear that take on hundreds of thousands of dollars. To the Obama-Biden folks, $219,000 is meaningless.
Currently Vice President Biden is spending all his time between now and November raising funds for Democrats running for office. Any potential donors might want to keep Biden’s finances in mind when considering giving to anyone he supports. And every taxpayer in America should keep this fine in mind the next time Obama-Biden ask for more of your money.